.krakenfx is scaling down its operations in the MENA region
Now, the company can no longer be seen in the registry of the Abu Dhabi Global Market . The ADGM, which was established back in 2013, functions as an international financial center.
In December, Kraken also announced its decision to close Japan operations, citing unfavorable market conditions. The exchange left the market back in 2018, but it then returned years later, after obtaining a license from the local regulator. Kraken expanded into Japan back in 2014.After riding the bull market wave in 2021, major exchanges were forced to announce severe layoffs in 2022. In early December, Kraken fired 30% of its workforce.
Despite the fact that Bitcoin had a very strong start to the new year, major cryptocurrency companies continue to struggle after the industry endured a series of confidence-shattering crises last year.
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