[FalconX Lays Off 10% to Address Crypto Market Slump, Withdraws Singapore License Application] According to Bloomberg, digital asset brokerage FalconX has laid off 10% of its workforce to cope with the prolonged downturn in the crypto market. Sources familiar with the matter revealed that about half of the employees in the Singapore office, including senior management, sales, and accounting staff, were let go. The company is adjusting its strategy to focus on unlicensed crypto derivatives trading and plans to withdraw its license application submitted to the Monetary Authority of Singapore. The company stated that it is concentrating resources on priority areas while maintaining its Asia-Pacific operations and expanding its regulated business in Europe.