Kraken Shuts Abu Dhabi Office as Crypto Exchanges Shrink
- Firm is winding down local currency support, laying off staff
- Kraken’s MENA boss Benjamin Ampen will stay with company
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Crypto exchange Kraken has shut its Abu Dhabi office less than a year after winning a local license, part of a retrenchment that involves cutting almost a third of its global workforce.
Kraken laid off the majority of its team focused on the Middle East and North Africa, affecting about eight roles, a spokesperson said. A registry for Abu Dhabi Global Market, where Kraken received a crypto license last April, no longer shows an active entity in the company’s name.