FalconX is about 10 per cent downsized and will withdraw the Singapore licence application

On August 4, the digital asset broker, FalconX, had cut about 10 per cent of the global workforce. Before the layoffs, FalconX had about 350 employees in the United States, the United Kingdom, Singapore and Hong Kong. FalconX is adjusting Singapore ' s strategy to focus on encrypted derivatives and is planning to withdraw its application for local licence plates to the Singapore Financial Authority. The company plans to maintain the Asian business layout while expanding its European operations。