FalconX has reportedly suffered a wave of senior staff layoffs, including its general counsel and European head

FalconX has reportedly faced a wave of high-profile layoffs, including its general counsel and head of European operations

According to two sources, between 10 and 15 people have left the company in recent times.

Will Canny | Edited by Stephen Alpher and Aoyon Ashraf 26 Mar 2025 12:01 GMT

Key points:

• At least 10 employees have recently left cryptocurrency broker FalconX, according to sources.
• The departures include the head of the European division, the head of the credit department, the company's general counsel and the chief specialist for global regulatory compliance, according to the information.

Several senior employees have recently left crypto broker FalconX, three people familiar with the matter said.

Sources say that among those leaving was Tommy Doyle, head of FalconX's European operations.

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FalconX's chief compliance officer, general counsel and head of credit have also resigned, said the people, who spoke on condition of anonymity because the matter is confidential. Two traders have also left the company, they added.

The total number of dismissals, a combination of resignations and layoffs, is between 10 and 15 people, two sources said.

“Our headcount has doubled in the last year and we continue to expand. We do not comment on personnel matters,” a FalconX spokesperson said in an email.

Doyle declined to comment.

Prime brokers play a significant role in financial markets by providing trading, financial and custody services to large institutions.

Before this wave of exits occurred, Brian Strugats, FalconX's head of trading, recently left the company, CoinDesk reported. He had been with the organization for more than three years and was based in New York.

FalconX positions itself as the largest and most trusted digital asset broker for the world's leading institutions. According to PitchBook, the company employed 243 people as of February 2023.

The cryptocurrency company was founded in 2018 and was valued at $8 billion at the time of its funding round in mid-2022.

More information: Binance, FalconX, and the mysterious case of 1.35 million missing Solana tokens

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