FalconX Slashes Staff by 10%, Revamps Singapore Strategy Amid Crypto Bear Market

FalconX has laid off around 10% of its global employees as it restructures operations amid a prolonged crypto bear market.

The company, which has expanded through acquisitions over the past 18 months, is reallocating resources toward strategic priorities while continuing to invest in its regulated European operations and maintaining its Asia-Pacific presence.

About half of FalconX's Singapore workforce was affected by the layoffs, with the firm also planning to withdraw its license application from the Monetary Authority of Singapore and instead focus on crypto derivatives trading.