Crypto Prime Broker Falconx recently saw the departure of several senior executives, according to three people knowing the issue.
Among those who resigned, there was Tommy Doyle, the European chief of Falconx, according to the sources.
The World Director of Compliance, the Advocate General and the Credit Head in Falconx also resigned, said the sources, who spoke under the guise of anonymity, because the question is private. Two traders also left the business, added people.
Two of the people said the total number of departures was a combination of resignations and layoffs, and had between 10 and 15 people.
“Our workforce has approximately doubled last year and we continue to grow. We are not starting the personnel questions,” said a Falconx spokesperson in a comment sent by e-mail.
Doyle refused to comment.
Privileged brokers are essential to financial markets. They provide negotiation, financing and guard services to large institutions.
Before this wave of outings, Brian Strugats, responsible for trade in Falconx, had recently left the company, as Coindesk reported. He had been working for the company for over three years and was based in New York.
Falconx describes itself as the brokerage of the most important and most reliable digital assets for the main global institutions. The company employed 243 people in February 2023 according to Pitchbook data.
The Crypto company was founded in 2018 and was estimated at $ 8 billion at the time of a mid-2022 financing round.
Find out more: Binance, Falconx and the curious case of 1.35 m of missing Solana token
