Vice President of International and Business Development Nana Murugesan said that the firm decided to “wind down” the majority of its operations in Japan.
Crypto exchange Coinbase will be closing down the majority of its operations in Japan as part of its efforts to endure in the bearish market. The relocation is part of the company’s restructuring strategy and follows the current layoff statement that it was reducing its staff members by 20%.
In an interview with BNN Bloomberg, Coinbase executive Nana Murugesan said that most of the operations in Japan will be closed. “We’ve chosen to unwind the majority of our operations in Japan, which led to removing most of the functions in our Japan entity,” said Murugesan.
While the executive did not dive into specifics, he kept in mind that a little number of employees in the Japanese branch will stay to ensure that customer possessions are safe.
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