Cryptocurrency exchange Coinbase Global Inc said Wednesday that it is ceasing operations in Japan due to unstable market conditions.

All Coinbase customers in Japan will have until Feb. 16 to withdraw their fiat and cryptocurrency assets, the company said in a blog post.

Coinbase’s decision to pull out comes just weeks after rival exchange Kraken said it too would cease operations in Japan this month.

Several companies have suffered from declining investor appetite for cryptocurrencies since the major FTX exchange imploded in September. Higher interest rates and fears of an economic downturn have also put pressure on the crypto industry as investors flee risky assets.

The failures of the cryptocurrency sector have continued this year, with falling deposits, layoffs and numerous legal hurdles.

Coinbase, Crypto.com and Huobi have announced plans to lay off about 20% of their employees, and a source reported earlier this month that Genesis has also cut 30% of its staff.