Kraken, one of the world’s leading cryptocurrency exchanges, has decided not to operate in Japan.
Every day, a problem is witnessed in the crypto money markets, which are having a hard time. While giant cryptocurrency exchanges are sinking, some are downsizing their fields of activity.
Although analysts did not accept it for the last 1 year, those who invested in cryptocurrencies, which could not get out of the bear market, headed for a big loss. While their money melted in the face of inflation, cryptocurrencies did not make a premium.
The US crypto exchange Kraken has also taken new action. Kraken will end its operations in Japan as of January 31, 2023, and will be deregistered from the Japan Financial Services Agency (JFSA).
Investors who turned to crypto money with the guidance of analysts who had no authority and knowledge in small rises began to withdraw their money when they were constantly losing.
While Bitcoin could not even come close to its historical peak for over a year, the declines continued.
Bitcoin has been on a stable course at $ 16500 for a while. Ethereum is also finding buyers at $ 1200 levels. In the face of global inflation, those who invested in crypto money suffered great losses.
FTX, the third largest cryptocurrency exchange in terms of trading volume, went bankrupt. The company filed for bankruptcy. The CEO of the company, Sam Bankman-Fried, resigned and left the company. He was subsequently arrested and released on bail.
Lack of liquidity brought the end of FTX. FTX, which was expected to survive with Binance’s announcement that it would buy, went into bankruptcy after Binance gave up on the purchase.
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