FalconX Lays Off 10% of Staff, Withdraws License Application in Singapore
By: rootdata|2026/08/04 00:05:00
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Digital asset brokerage FalconX has laid off 10% of its workforce in response to the prolonged downturn in the cryptocurrency market. Approximately half of the employees at its Singapore office were affected, including senior management, sales, and accounting personnel. The company is adjusting its strategy to focus on cryptocurrency derivatives trading that does not require a license and plans to withdraw its license application submitted to the Monetary Authority of Singapore. FalconX stated that it will concentrate resources on priority areas while maintaining its Asia-Pacific operations and expanding its regulated business in Europe.
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