Kraken Leaves the Japanese Market
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US crypto exchange Kraken is one of the many companies in the crypto industry that have been forced to cut their staff due to a sharp drop in revenue in 2022.
In particular, the company announced earlier this month that it intended to lay off about 30% of its employees.
Now, the trading platform has said it plans to leave the Japanese market at the end of January 2023.
According to the press release:
“The current situation in the Japanese market, as well as the weakening of the global cryptocurrency market, has led to the fact that the use of our resources to develop business in Japan will not be justified.”
Users have until January 31 to withdraw their funds from wallets or convert them into Japanese yen.
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