The workforce reduction affects a company that previously employed 350 people across the United States, the United Kingdom, Singapore, and Hong Kong. While FalconX has not publicly specified which departments or regions bore the brunt of the cuts, the move reflects a broader industry trend of firms trimming expenses to navigate lower trading volumes and diminished revenue. Bitcoin’s decline from its October 2025 peak has forced institutional players to move away from general spot-market services toward more specialized areas like derivatives.
As part of this retrenchment, FalconX is withdrawing its license application with the Monetary Authority of Singapore. The firm intends to maintain a presence in the region while funneling resources into its European business, following its recent acquisition of 21shares. This strategic pivot mirrors recent layoffs at other crypto-native companies, including Luno and Pump.fun, as the sector grapples with the fallout of sustained market volatility.
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