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Coinbase to close majority of Japan operations following global layoffs: Report

Published 01/11/2023, 06:20 AM
Updated 01/11/2023, 09:00 AM
© Reuters

Crypto exchange Coinbase (NASDAQ:COIN) will be closing down most of its operations in Japan as part of its efforts to survive in the bear market. The move is part of the company’s restructuring plan and follows the recent announcement that it would reduce its employees 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 decided to wind down the majority of our operations in Japan, which led to eliminating most of the roles in our Japan entity,” said Murugesan.

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