Coinbase Will Halt Its Operations In Japan

After Kraken, Coinbase Global Inc. is stopping its operations in Japan stating the reason being volatile market conditions and decreased demand for digital assets in the nation. 

Coinbase got the license just a year and a half ago from the Japanese regulators. This seems on par with the current market situation, with FTX’s downfall and more. Last year, the value of their shares decreased by 86%. 

Coinbase, Huobi, and Crypto.com laid 20% of the workforce, and Genesis, 30% of their staff due to poor market conditions. 

Japanese customers can withdraw their holdings until 16th February.