FalconX, a digital-asset brokerage and prime broker, cuts about 10% of its global workforce as it prepares for what company insiders describe as a prolonged downturn in cryptocurrency markets, according to people familiar with the matter. The cuts are part of broader cost-reduction efforts as crypto firms continue to scale back spending. Bloomberg reports the staff reductions occur across the company globally. Cointelegraph adds that FalconX is also refocusing its strategy in Singapore, including withdrawing a local license application, and adjusting its approach there as demand and investment in the sector remain weak. Both reports link the restructuring to ongoing pressure in crypto markets, where activity and funding have declined. The outlets do not provide further details on the number of roles eliminated by location, the timeline for the layoffs, or whether the company will add new hires later. FalconX’s actions reflect a wider pattern of staffing reductions and regulatory-or-strategy changes among crypto-related firms during the market slump.