Reducing crypto-related risks
The major Japanese financial conglomerate Nomura reported a temporary reduction of its cryptocurrency investments amid a drop in profits in the third quarter of 2022. Nomura's Chief Financial Officer Hiroyuki Moriuchi stated that the company needs to manage short-term risks, but remains committed to digital assets in the long run.
Analysts link Nomura's profit decline to the overall market volatility caused by rising interest rates and geopolitical instability. In these conditions, the company decided to play it safe and temporarily reduce its crypto exposure to avoid additional losses. Nevertheless, Nomura confirmed that it will continue to invest in digital assets in the long term.
This cautious position of a major financial player reflects a general trend in the industry - many organizations are trying to reduce risks amid market uncertainty. At the same time, they do not abandon cryptocurrencies completely, viewing them as a promising direction for future development.