FALCONX CUTS 10% STAFF AMID IPO PLANS

INDUSTRY DESK■ 1 MIN READ

SAT, AUG 22, 2026

■ AI-SUMMARIZED FROM 2 SOURCES ▸ TIMELINE

FalconX, a digital assets brokerage, has laid off 10% of its global workforce as it prepares for a prolonged cryptocurrency market downturn. CEO Raghu Yarlagadda discussed the cuts and a potential IPO on Bloomberg Crypto.

The firm, which has facilitated approximately $2.5 trillion in trading volume, is taking defensive measures ahead of expected market challenges. The layoffs reflect broader industry trends as crypto companies adjust to volatility and tighter market conditions. Yarlagadda's appearance on Bloomberg Crypto included discussions about potential public offerings and deal-making strategies. The CEO's comments suggest FalconX is positioning itself for both near-term challenges and long-term growth. Separately, Nvidia is in early-stage talks with Korean AI chip designer Rebellions about possible collaboration. Discussions include technical partnerships, investment, or acquisition options, according to sources familiar with the matter. This move aligns with Nvidia's strategy to expand its AI chip ecosystem beyond its current offerings.

■ SOURCES

► Bloomberg Tech ► Bloomberg Tech

■ SUMMARY WRITTEN BY AI FROM THE LINKS ABOVE

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FALCONX CUTS 10% STAFF AMID IPO PLANS

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