PANews August 4 news, according to Bloomberg, digital asset brokerage FalconX has laid off 10% of its staff in response to the prolonged downturn in the crypto market. People familiar with the matter said that about half of the employees in the Singapore office (including senior management, sales and accounting personnel) were cut. The company is adjusting its strategy to focus on crypto derivatives trading that does not require a license, and plans to withdraw its license application submitted to the Monetary Authority of Singapore. The company said it is concentrating resources on priority areas, while maintaining its Asia-Pacific operations and expanding regulated business in Europe.
