- FalconX has allegedly reduced its global workforce by 10% as it braces for an extended downturn in the crypto market and decreased trading activity.
- The crypto prime broker is retracting its application for a license in Singapore as it redirects its focus to crypto derivatives trading and aims to grow its footprint in Europe.
- FalconX collaborates with leading crypto companies like Coinbase, Crypto.com, Gemini, and Luno to reorganize its operations as the sector responds to declining market conditions and shifting institutional needs.
FalconX has cut its worldwide staff by 10% and will pull its application for a license in Singapore, as reported by MetaEra. The firm is shifting its focus to cryptocurrency derivatives trading in Asia while also growing in Europe.
A Bloomberg report indicates that the firm is altering its growth strategy in Asia by retracting its license application with the Monetary Authority of Singapore (MAS).
Prior to the layoffs, FalconX employed approximately 350 staff members located in the United States, the United Kingdom, Singapore, and Hong Kong. The company has not yet provided an official response regarding the reported layoffs.
FalconX Adjusts Business Strategy
The most recent reorganization is indicative of the larger difficulties that cryptocurrency companies are facing as market activity is still muted. Lower trading volumes and less retail involvement have put pressure on industry revenues, despite the fact that institutional use of digital assets is still growing.
FalconX’s announcement to refine its Singapore strategy indicates a heightened emphasis on institutional offerings, especially crypto derivatives, which remain in demand despite prevailing market challenges. The firm is anticipated to enhance its activities in Europe, where the clarity of regulations related to digital assets has progressed.
Crypto Firms Continue Cost-cutting Measures
FalconX becomes part of an increasing number of cryptocurrency firms making layoffs and modifications to operations throughout the last year. Key industry participants, such as Coinbase, Crypto.com, Gemini, and Luno, have also optimized their operations in response to evolving market conditions and altering revenue structures.
Numerous exchanges and trading platforms are progressively expanding beyond conventional spot trading. Products like crypto derivatives, tokenized physical assets, prediction markets, and institutional financial services are increasingly playing a significant role in revenue growth.
A recent CoinGecko industry report indicated that the “crypto TradFi” sector grew considerably from January 2025 to June 2026, emphasizing an increasing fascination with financial products based on blockchain that go beyond traditional cryptocurrency trading.
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