FalconX cuts 10% of global staff

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Digital assets brokerage FalconX has cut about 10% of its global workforce as it braces for a prolonged downturn in cryptocurrency markets, according to people familiar with the matter. The reduction reportedly includes roughly half of staff in its Singapore office, affecting senior managers and employees in sales and accounting, indicating targeted reductions in key operational roles. The move aims to adjust the firm's cost base for extended market weakness and may influence clients and counterparties' expectations about service capacity and sector stability during the unfolding crypto downturn.

FalconX cut 10% of its global workforce