FalconX lays off 10% of staff and withdraws Singapore licence

Crypto brokerage FalconX is cutting around 10% of its staff worldwide and, at the same time, withdrawing its licence application with the Singaporean regulator. The company is thereby anticipating a prolonged downturn in the crypto markets, reports Bloomberg.

In short:

• FalconX is laying off 10% of its employees worldwide, including about half of its Singapore office.
• The company is withdrawing its licence application with the Monetary Authority of Singapore and will focus on crypto derivatives trading from now on.
• FalconX wants to further expand its European operations while maintaining its presence in Asia-Pacific.

Singapore layoffs hit senior managers

According to insiders who wish to remain anonymous, FalconX’s Singapore office is losing about half of its employees. Among those laid off are senior managers and people who worked in sales and accounting. This amounts to a disproportionately large share of the local headcount compared with the overall global reduction of 10%.

FalconX says it is concentrating its resources on priority areas. The reorganisation fits into a broader strategy to make the company leaner as the crypto sector faces persistent headwinds. A similar development can be seen at more companies in the sector: for example, American Bitcoin suffered a loss of $572 million in the second quarter of 2026.

Licence application in Singapore withdrawn

FalconX is adjusting its strategy in Singapore by focusing exclusively on crypto derivatives trading. That type of activity does not require a licence from the Monetary Authority of Singapore, which makes the pending application with the regulator redundant. The company has therefore decided to withdraw the application.

Despite the cutbacks, FalconX wants to maintain its presence in the Asia-Pacific region. At the same time, the company is focusing on growth of its regulated activities in Europe. The focus is thus shifting from a broadly licensed model in Singapore to a leaner setup in which only the most essential licences are retained.