Kraken is goingleaveJapan A month after laying off 30% of its staff, the crypto exchange will cease operations in the country on Jan. 31.
“With the current market conditions in Japan coupled with the weak crypto markets around the world. It means that the resources needed to expand our business in Japan are not reasonable at this time,” the company said in a blog post. “This decision is part of Kraken’s efforts to prioritize resources and investments in those areas that align with our strategy, and will put Kraken in the best position for long-term success. ”
Kraken says users can either withdraw their crypto to an external wallet or sell it for fiat and transfer it to a local bank account.
“Money currently staked with Kraken can be withdrawn and transferred or converted as needed,” the company said. “Kraken will release more information on the ETH withdrawal process soon.”
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