Nomura temporarily reduces crypto exposure as Q3 profits drop

Nomura's CFO, Hiroyuki Moriuchi, reportedly reaffirmed the company's long-term commitment to digital assets but said it had to manage short-term risks.

Japanese banking giant Nomura will reportedly reduce its exposure to crypto, citing the current tough market climate and a dip in profits from overseas in the third quarter.

Nomura chief financial officer Hiroyuki Moriuchi said that the firm would look to reduce its risk exposure at its European digital asset subsidiary Laser Digital Holdings, after it posted losses in the quarter ending Dec. 31, Bloomberg Japan reported on Friday.

Moriuchi said that while its subsidiary took a hit amid the crypto market turbulence, the firm will manage its stability through stringent position management over the next few months. 

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