Wu Blockchain (@WuBlockchain): FalconX Cuts 10% of Global Workforce and Plans to Withdraw Singapore License Application
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FalconX Cuts 10% of Global Workforce and Plans to Withdraw Singapore License Application Bloomberg reported that digital asset brokerage FalconX has cut about 10% of its global workforce, including roughly half of its Singapore staff, with senior managers and employees in sales and accounting among those affected. The company plans to refocus its Singapore operations on crypto derivatives trading, which does not require a license, and withdraw its application with the Monetary Authority of Singapore. FalconX said it will concentrate resources on priority areas while maintaining its Asia-Pacific presence and expanding its regulated European business.