Share this article
First Mover Americas: Sunset for Kraken in Japan
The latest price moves in crypto markets in context for Dec. 28, 2022.
Updated Mar 3, 2023, 5:29 p.m. Published Dec 28, 2022, 1:05 p.m.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Latest Prices
CoinDesk Market Index (CMI) 785 −14.4 ▼ 1.8% Bitcoin $16,661 −167.5 ▼ 1.0% Ethereum $1,194 −24.3 ▼ 2.0% S&P 500 futures 3,864.50 +9.5 ▲ 0.2% FTSE 100 7,545.88 +72.9 ▲ 1.0% Treasury Yield 10 Years 3.86% ▲ 0.1 BTC/ETH prices per CoinDesk Indices, as of 7 a.m. ET (11 a.m. UTC)
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Top Stories
Cryptocurrency exchange Kraken said it will exit Japan and deregister from the Financial Services Agency as of Jan. 31. The decision was prompted by "current market conditions in Japan in combination with a weak crypto market globally," the company said in a blog post. Kraken users in the country have until the end of next month to withdraw their fiat and crypto holdings, with the option of transferring crypto to another wallet or wiring Japanese yen to a local bank.
Bitcoin miner Argo Blockchain will avoid filing for bankruptcy protection after it agreed to sell its Helios mining facility in Dickens Country, Texas, to Galaxy Digital for $65 million. The miner will also get a new $35 million loan from financier Mike Novogratz’s crypto-focused financial-services firm, which will be secured by Argo's mining equipment. The transaction will help Argo bolster its balance sheet and avoid bankruptcy after it found itself in a precarious situation when a deal for $27 million in funding fell through in October.
Former FTX CEO Sam Bankman-Fried borrowed hundreds of millions of dollars from Alameda Research, the trading firm he owned, to purchase his stake in trading app Robinhood Markets. In an affidavit provided to a Caribbean court before his arrest, Bankman-Fried said he and FTX co-founder Gary Wang together borrowed over $546 million from Alameda via promissory notes in April and May. They used that money to capitalize Emergent Fidelity Technologies Ltd., the shell corporation that in May bought a 7.6% stake of Robinhood.
Trending Posts
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Bitcoin pushes above $90,000 as traders eye change in pattern
Particularly hard-hit in 2025's final sessions, crypto-related stocks are bouncing in this year's first trading day.
What to know:
- Bitcoin rose above $90,000 during U.S. trading hours on Friday.
- It's a notable change in trend, as crypto prices late in 2025 were typically on the defensive while American stocks traded.
- Strategy, Coinbase, Hut 8 and Galaxy Digital were among the crypto-related stocks seeing strong gains.
Top Stories
