FalconX cut about 10% of its workforce on Monday, roughly 35 people out of 350 total staff. The prime broker that serves institutional crypto traders made the move as volumes dried up across the market.
The firm operated across four major hubs, U.S., UK, Singapore and Hong Kong. Lower trading activity directly hits prime brokers. Spreads compress, financing demand evaporates, and institutional clients need less hand-holding.
Bloomberg reported that FalconX is also rethinking Singapore. The company planned to shift focus toward crypto derivatives in Asia rather than push for full regulatory licensing from the Monetary Authority of Singapore. It's keeping Asian operations but wants to expand Europe instead.
This restructuring comes after FalconX spent most of 2025 buying up assets. In November the company closed its acquisition of 21shares, the ETP provider. That deal was supposed to diversify the business into trading, asset management and market infrastructure. But the crypto downturn flipped the calculus fast.
The layoffs signal FalconX is tightening belts as the market weakens. The company hasn't officially confirmed the cuts yet, though its job postings are still live across multiple cities.
This article is informational and not investment advice. Market conditions and company decisions change rapidly in crypto.
