FalconX has reportedly reduced its global workforce by about 10% as the digital asset prime broker prepares for what it sees as a longer crypto market downturn. The move, first reported by Bloomberg, reflects continued pressure on crypto firms to control spending after a weak period for trading activity and broader market sentiment.
According to the report, the company is also changing course in Singapore. FalconX is said to be refocusing its strategy there and withdrawing its local license application, a sign that expansion plans are being reassessed as firms become more selective about where they invest resources.
The reported job cuts add FalconX to a broader list of crypto companies that have trimmed staff during the market slump. Even established digital asset businesses have been forced to balance growth ambitions with lower volumes, tighter funding conditions and regulatory complexity in key markets.
For FalconX, the layoffs and Singapore pullback suggest a shift toward conserving capital and prioritizing core operations. As the crypto sector continues to adapt to a prolonged slowdown, companies are increasingly making defensive changes to protect their business through uncertain market conditions.
