Kraken Shuts Down Offices In Abu Dhabi

After securing a license to operate in the Abu Dhabi region less than a year ago, Kraken decided to shut down its offices. According to one spokesperson, the company has decided to focus on digital assets and proceed after due diligence, especially after the FTX bankruptcy. 

He also told that the company will reduce its workforce by 30% (1,100 employees), as the market sentiment on crypto is going downward. Previously, the company decided to shut down its operations in japan, citing the same reasons.