{"id":546946,"date":"2023-02-02T20:30:00","date_gmt":"2023-02-02T17:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/kraken-shuts-down-abu-dhabi-office-report\/"},"modified":"2023-02-02T20:30:00","modified_gmt":"2023-02-02T17:30:00","slug":"kraken-shuts-down-abu-dhabi-office-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/kraken-shuts-down-abu-dhabi-office-report\/","title":{"rendered":"# Kraken shuts down Abu Dhabi office: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2578400ba8d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2578400ba8d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/kraken-shuts-down-abu-dhabi-office-report\/#%E2%80%9D_Kraken_shuts_down_Abu_Dhabi_office_Report_%E2%80%9C\" >&#8221; Kraken shuts down Abu Dhabi office: Report &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Kraken_shuts_down_Abu_Dhabi_office_Report_%E2%80%9C\"><\/span>&#8221; Kraken shuts down Abu Dhabi office: Report &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvYTVmMTFmODAtMjFkNi00NWJlLWE4NjItOGQ0NmQ0NGRjNjQwLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-5a4050f8>Cryptocurrency exchange Kraken has reportedly closed its office in Abu Dhabi less than 12 months after receiving regulatory <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roval to operate in the region.<\/p>\n<p>According to a Feb. 2 report from Bloomberg, Kraken <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-02-02\/crypto-exchange-kraken-shuts-abu-dhabi-office-cuts-jobs\">shut<\/a> down its Abu Dhabi office, laying off roughly eight people on the team focused on the Middle East and North Africa, or MENA. The exchange had been licensed to offer services in the Abu Dhabi international financial center and Abu Dhabi Global Market since April 2022 \u2014 prior to the market downturn affecting many crypto firms.<\/p>\n<p>As part of the shutdown, Kraken reportedly suspended support for transactions in the local dirham currency. However, existing users in the region will still have access to the platform using other fiat currencies. Several employees will also reportedly remain in the area, with Kraken MENA managing director Benjamin Ampen likely to leave following the transition.<\/p>\n<p>The reported move in the Middle East followed Kraken announcing in November it planned to cut its workforce by 30% \u2014 more than 1,000 people \u2014 in an effort to survive the crypto winter. Kraken co-founder Jesse Powell described the layoffs as taking the exchange back to its size in 2021, when it rapidly expanded. Powell announced in September that he planned to step down as CEO but stay on as board chair.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Kraken crypto exchange is next to close doors to Russian users<\/em><\/strong><\/p>\n<p>Kraken also pulled out of Japan as of Jan. 31, marking the second time the exchange withdrew from the major Asian economy since April 2018. The firm said in December that the move was part of resource allocation, citing \u201ccurrent market conditions in Japan\u201d and a \u201cweak crypto market globally.\u201d<\/p>\n<p><em>Cointelegraph reached out to Kraken, but did not receive a response at the time of publication.<\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/kraken-shuts-down-abu-dhabi-office-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Kraken shuts down Abu Dhabi office: Report &#8220; Cryptocurrency exchange Kraken has reportedly closed its office in Abu Dhabi less than 12 months after receiving regulatory approval to operate in the region. According to a Feb. 2 report from Bloomberg, Kraken shut down its Abu Dhabi office, laying off roughly eight people on the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":546947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/a5f11f80-21d6-45be-a862-8d46d44dc640.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74860,75540,117,25460],"class_list":["post-546946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrency-exchange","tag-kraken","tag-business","tag-middle-east"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/546946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=546946"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/546946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/546947"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=546946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=546946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=546946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}