Cryptocurrency exchange Coinbase Global Inc on Wednesday said it will halt operations in Japan due to volatile market conditions.
All Coinbase Japan customers will have until Feb. 16 to withdraw their fiat and crypto holdings, the company said in a blog post.Coinbase’s decision to exit comes only a few weeks after rival exchange Kraken said it, too, would cease its operations in Japan this month. Several firms have suffered from waning investor appetite for crypto after major exchange FTX blew up in September. Higher interest rates and worries of an economic downturn have also piled pressure on the crypto industry, as investors flee risky assets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: