Japanese banking giant Nomura plans to reduce its exposure to crypto due to tough market conditions and losses in Q3. Despite this, Nomura remains committed to crypto and aims to expand its Switzerland-based subsidiary in the future. In Q3, Nomura posted a $68.47 million loss from its European ventures but still saw a profit from overseas ventures. The company’s shares dropped by 6.8% on the Tokyo Stock Exchange following the Q3 results. Analysts attribute the drop to market unease and surprise over the crypto losses.

Read more at Cointelegraph: Nomura Q3 Profit Drop Prompts Crypto Exposure Reduction