EDUSELL
Financial Market Examiner
Midas Crypto Vault
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews
No Result
View All Result
Financial Market Examiner
No Result
View All Result
Home Crypto News

Crypto Exchange, Kraken Announces Plan to Exit Japan in 2023

Admin by Admin
December 28, 2022
in Crypto News
0
Kraken announces plan to exit Japan
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter
MMC MMC

Payword Group operates Kraken’s exchange business and announced its withdrawal from Japan at the end of January 2023. The firm unveiled plans to reduce its global workforce of about 1,100, a reduction of 30%. Payword Group cited the sudden decline in virtual currency trading triggered by the bankruptcy of FTX exchange and that the contagion spread to Japan. 

Colin Wu, a Chinese journalist shared details of FTX’s contagion spreading to Japan. Wu tweeted, ”According to nikkei, Kraken announced that it will withdraw from Japan market at the end of January 2023. On December 1, Kraken announced that it would lay off 1,100 people worldwide, accounting for about 30% of its total workforce”

The US-based exchange is the latest player scaling back operations after a difficult year for cryptocurrencies. Per the announcement Kraken will cease operations in the East Asian country by deregistering from the Financial Services Agency on January 31. 

The trading platform said that customers should withdraw their fiat and crypto holdings in a timely manner.

In 2018, Kraken ceased operations in Japan and cited the rising cost of doing business. Kraken was relaunched with a Tokyo office in 2020 before leaving the Asian island nation yet again. This is coming after the recent crash of Sam Batman Fried’s FTX exchange that shook the crypto industry.

Share on TwitterTweet
Share on Pinterest Share
Share on LinkedIn Share
Share on Digg Share
Tags: FTXKraken
Institutional Trading Concept Institutional Trading Concept Institutional Trading Concept
ADVERTISEMENT
Previous Post

Fidelity Files Trademark Application For NFT Marketplace

Next Post

FTX Customers File A Class-Action Lawsuit To Get Priority Reparations

Admin

Admin

Next Post
FTX Group Interim Financial Update Contradicts Court Filing, Shows Exchange Had $1.43B In Cash

FTX Customers File A Class-Action Lawsuit To Get Priority Reparations

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

  • 99 Subscribers
  • Trending
  • Comments
  • Latest
AUD USD pair

Forex: AUD/USD Point To More Downside For The Aussie

October 20, 2022
yen and dollar

FOREX-Yen Flirts With Intervention Level As Dollar See Gains

October 11, 2022
Virtual stadium in the metaverse

Why Virtual Stadium Can Be the Next Big Thing in the Metaverse

January 26, 2023
USDD Depegs

USDD Stablecoin Depegs To $0.96, Tron (TRX) Dumped

December 12, 2022
What is Initial Coin Offering?

Initial Coin Offering (ICO)

0
What is staking?

Staking

0
What is Defi?

Defi (Decentralized Finance)

0
Differences between Axie Infinity and Decentraland

Axie Infinity and Decentraland: Features and Differences

0
TERRA LUNA CLASSIC AND USTC LINKING

Terra Proposes Recoupling LUNC and UST Months After Collapse

February 3, 2023
Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

February 3, 2023
FTX Debtors Warn Customers Of Scams Promising Return Of Assets

FTX Debtors Warn Customers Of Scams Promising Return Of Assets

February 3, 2023
Commerzbank EURUSD

Things are getting increasingly difficult for bulls – Commerzbank

February 3, 2023

Recent News

TERRA LUNA CLASSIC AND USTC LINKING

Terra Proposes Recoupling LUNC and UST Months After Collapse

February 3, 2023
Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

February 3, 2023
FTX Debtors Warn Customers Of Scams Promising Return Of Assets

FTX Debtors Warn Customers Of Scams Promising Return Of Assets

February 3, 2023
Commerzbank EURUSD

Things are getting increasingly difficult for bulls – Commerzbank

February 3, 2023
Financial Market Examiner

Get all the latest Financial Market (Crypto & Forex) news, updates and other relevant resources here.

Follow Us

Browse by Category

  • Crypto News
  • Education
  • Forex News
  • Gaming
  • Reviews
  • Stocks

Recent News

TERRA LUNA CLASSIC AND USTC LINKING

Terra Proposes Recoupling LUNC and UST Months After Collapse

February 3, 2023
Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

Binance Re-Enters South Korea Acquiring Gopax Crypto Exchange

February 3, 2023

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

No Result
View All Result
  • Home
  • Education
  • Forex News
  • Crypto News
  • Stocks
  • Reviews

© 2022 Financial Market Examiner. - Designed by Mayconcept Solutions.

?>