Nomura tightens risk controls at Laser Digital after crypto losses hit profits
Nomura is tightening risk controls at its crypto unit, Laser Digital, following crypto-related losses that impacted third-quarter profits.Summary
Nomura Holdings announced it will implement stricter risk controls at its crypto subsidiary, Laser Digital, after losses in that business contributed to a 9.7% drop in the company's fiscal third-quarter profit. CEO Hiroyuki Moriuchi stated that the company introduced stricter position management to reduce risk exposure and limit earnings volatility caused by crypto market swings. This action follows a significant crypto market downturn in October, where Bitcoin dropped substantially from its peak, leading to massive liquidations. Despite scaling back crypto risk, Laser Digital recently applied to the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank for digital asset management services.
(Source：CoinDesk)