Coinbase asks Japanese customers to withdraw holdings as it halts operations

Coinbase Global Inc., the world’s second-largest cryptocurrency exchange by transaction volume, has requested customers in Japan liquidate their crypto and fiat holdings by Feb. 16, as it suspends operations in the country “to undertake a thorough evaluation” of its operations.

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Coinbase Global Inc., the world’s second-largest cryptocurrency exchange by transaction volume, has requested customers in Japan liquidate their crypto and fiat holdings by Feb. 16, as it suspends operations in the country “to undertake a thorough evaluation” of its operations.

Following the surprising collapse of FTX, the world’s second-largest crypto exchange, in November, Coinbase has joined several other crypto exchanges in slashing staff and operational costs.

Coinbase’s Nasdaq share price rose 8.32% to US$54.14 on Tuesday but fell 1.48% in pre-market trade on Wednesday.