Cryptocurrency exchange Coinbase said it is halting operations in Japan, according to reports by CoinDesk.

Customers have until Feb. 16 to make withdrawals on the exchange, the company said on Wednesday.

Many companies have had to shift their business models as they adapt to the ongoing crypto winter, which was worsened by the collapse of FTX in late 2022. Last week, Coinbase said it is cutting around 20% of its workforce as part of its restructuring plan.

Author: Katie Lin