LATEST: 🏦 Nomura has reduced its crypto exposure after its Laser Digital subsidiary posted a $68.47 million Q3 loss, though the Japanese bank says its long-term digital asset commitment remains unchanged. https://t.co/KRROxfDRh8 ...

Japan's Nomura cuts down crypto exposure following Q3 losses https://t.co/C1Ddy9L3Nw ...

According to DLNews, Nomura, Japan's largest wealth management company (with approximately JPY 153 trillion in client assets), stated that after its subsidiary Laser Digital incurred losses in the third quarter, the company reduced its crypto positions and risk exposure; its commitment to the digital asset business remains unchanged, and it plans to expand in the medium to long term. https://t.co/Cg3pvBxpiO ...

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According to DLNews, Nomura, Japan's largest wealth management company (with approximately $153 trillion in client assets), stated that after its subsidiary Laser Digital incurred losses in the third quarter, the company reduced its crypto positions and risk exposure; its commitment to the digital asset business remains unchanged, and it plans to expand in the medium to long term. https://t.co/Cg3pvBxpiO ...

Nomura shares fell after profit dropped more than analysts anticipated last quarter, due to a loss in Europe and one-time costs tied to a major acquisition https://t.co/HwkZnt3Na6 ...

Core Insights - Nomura has reduced its positions in cryptocurrencies due to unspecified losses in its crypto arm during the third quarter [1] - The firm remains committed to digital asset-related businesses and aims to expand its crypto operations in the medium to long term [2] Risk Management - Nomura, Japan's largest wealth manager with approximately $153 trillion in client assets, is tightening its management of positions and risk exposure to mitigate short-term profit volatility [3] - The company's Europe-based crypto subsidiary, Laser Digital, is specifically reducing risk following recent market fluctuations [1][3] Business Expansion - Laser Digital has applied for a national trust bank charter in the United States, which would enable it to provide a range of crypto custody and spot trading services [4] - The subsidiary was launched in Switzerland on September 21, 2022, with a focus on digital assets, including cryptocurrency trading and venture capital [4] - Nomura anticipates that Laser Digital will achieve profitability by 2024 [4] Market Context - Despite the downturn in cryptocurrency prices, Japanese firms, including Nomura, have shown a willingness to invest in Bitcoin and crypto-related businesses [2] - The current market conditions have seen Bitcoin and Ethereum prices decline by 5.3% and 9.1% respectively over the past 24 hours [7]

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Japan’s biggest brokerage Nomura announced plans to buy back shares even after profit fell in the third quarter, as it remained on course for record annual earnings https://t.co/6aX8Gkphj3 ...