Nomura Sees Broader Market Hurdles To Delay Crypto Unit's Profitability Levels
Portfolio Pulse from Khyathi Dalal
Nomura's cryptocurrency unit, Laser Digital, is expected to take longer to reach profitability due to factors such as shrinking volumes, narrowing activity, and changing regulatory needs. The crypto market's recent downturn, marked by the FTX collapse, has also impacted the unit's performance. Despite these challenges, CEO Jez Mohideen remains optimistic about the future of the crypto space, citing increased interest from large financial institutions.
September 08, 2023 | 7:02 pm
News sentiment analysis
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POSITIVE IMPACT
BlackRock's application for a Bitcoin ETF has been mentioned as a positive development for the mainstream acceptance of cryptocurrencies.
The news indirectly impacts BlackRock as it mentions the company's Bitcoin ETF application, which is seen as a positive development for the mainstream acceptance of cryptocurrencies. This could potentially boost BlackRock's reputation and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Societe Generale received France’s first crypto license in July, indicating its active involvement in the crypto space.
The news indirectly impacts Societe Generale as it mentions the company's receipt of France's first crypto license. This indicates Societe Generale's active involvement in the crypto space, which could potentially boost its reputation and stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nomura's crypto unit, Laser Digital, is likely to face delays in reaching profitability due to market and regulatory challenges.
The news directly impacts Nomura as it indicates potential delays in the profitability of its crypto unit, Laser Digital. This could negatively affect the company's financial performance and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100