BizwavemediaPersonal Finance and Crypto Updates

Nomura Holdings, Japan’s largest investment bank and brokerage firm, has stepped up risk management in its crypto business following losses in Europe linked in part to digital asset market setbacks.

CFO Hiroyuki Moriuchi made the comments during a Friday conference call, noting the measures are intended to limit short-term swings in earnings. Despite reducing exposure to digital assets, the company stays committed to crypto over the long term.

Nomura saw quarterly profit decline after losses in its European business and exceptional costs linked to the acquisition of Macquarie Group weighed on results, offsetting gains in trading and wealth management.

Nomura closed a $1.8 billion acquisition of Macquarie Group’s US and European public asset management business, expanding its global asset management footprint.

The firm is the parent of Laser Digital, its digital asset arm, which is seeking approval to operate as a federally chartered bank in the US.

Tether, the world’s largest stablecoin issuer, reported more than $10 billion in net profit for 2025 as USDT circulation climbed above $186 billion by year’s end, according to its Q4 2025 attestation report.

Total reserves rose to nearly $193 billion, continuing to exceed liabilities, with excess reserves reaching $6.3 billion.

Nearly $50 billion in new USDT was issued during 2025, with roughly $30 billion minted in the second half alone as demand surged across payments, trading, and emerging markets.

Tether’s exposure to US Treasuries reached fresh records, with direct holdings exceeding $122 billion and total Treasury exposure topping $141 billion. The figures place the company among the world’s largest holders of US government debt.

The company’s gold division has also expanded rapidly as bullion prices reached all-time highs. Tether Gold (XAUT) surpassed $2 billion in market capitalization, accounting for more than half of all gold-backed tokens in circulation.

CEO Paolo Ardoino said USDT’s growth reflects rising global demand for dollars outside traditional banking systems, adding that USD₮, with its network effect and parabolic growth, has become the most widely adopted monetary social network in history.

Silver plunged more than 35% on Friday to around $74, marking its largest intraday decline ever recorded, before rebounding to roughly $82 at press time. Gold fell more than 12% to near $4,700 after touching record highs above $5,500 earlier in the week.

The selloff followed a historic rally that saw silver surge past $120 and gold climb to unprecedented levels, driven by inflation hedging, dollar weakness, and speculative momentum. Friday’s sharp reversal reflected a sudden shift in sentiment as traders moved to lock in profits amid rising macro uncertainty.

Volatility in metals coincided with a broader risk-off move after President Donald Trump named Kevin Warsh as his pick to lead the Federal Reserve. Warsh is widely viewed as more hawkish, easing investor concerns about central bank independence and signaling a less accommodative path for interest rates.

Bond markets reflected that repricing, with the 10-year Treasury yield climbing to around 4.25%. The US dollar index, which had touched a four-year low earlier in the week, rose about 0.7% as rate expectations firmed.

Silver’s collapse erased more than $1.8 trillion in market capitalization as prices fell from near $110 to the mid-$70s. Even after the rebound, silver’s market value stands near $4.2 trillion.

The drop allowed NVIDIA to overtake silver, becoming the world’s second-largest asset by market capitalization at roughly $4.6 trillion, according to Companies by Market Cap data.

Bitcoin has fallen out of the top 10 global assets by market capitalization, dropping to 11th place amid a major downturn in digital asset markets.

The leading crypto asset’s market cap has declined to approximately $1.67 trillion, placing it behind Meta Platforms at $1.86 trillion, TSMC at $1.76 trillion, and Saudi Aramco at $1.66 trillion, according to CompaniesMarketCap.

Bitcoin was trading at around $87,500 at press time, following a broad risk-off move that hit global markets on Thursday, CoinGecko data shows.

The total crypto market capitalization has fallen to approximately $2.9 trillion, reflecting a 5% loss over 24 hours.

Despite the ranking decline, a recent survey indicates institutional investors view Bitcoin as undervalued at current levels.

El Salvador’s Central Reserve Bank (BCR) said Thursday it bought 9,298 troy ounces of gold worth $50 million, its second gold purchase since 1990 and the first this year.

El Banco Central de Reserva realizó una nueva adquisición de 9,298 onzas troy de oro en los mercados internacionales, equivalentes a US$50 millones, como parte de su estrategia de incremento en las tenencias de este metal. pic.twitter.com/1GD7H4Bd0X

— Banco Central de Reserva (@bcr_sv) January 29, 2026

The acquisition follows El Salvador’s purchase of $50 million worth of gold in September 2025, bringing the national gold stash to 67,403 troy ounces valued at approximately $360 million.

The BCR stated the acquisition “consolidates the country’s long-term patrimony” and maintains “a prudent balance in the composition of the assets that make up the International Reserves.”

Gold has staged a powerful price surge in the past year. Since last September, the precious metal has jumped nearly 50%, per TradingView. The bank said its September purchase generated around $13 million in profits.

Alongside gold, El Salvador continues its daily Bitcoin accumulation. According to data from the National Bitcoin Office, the country has grown its holdings to 7,546 BTC, worth about $618 million.

El Salvador’s acquisitions come as central banks around the world are rapidly stockpiling and repatriating gold amid rising geopolitical tensions and dollar jitters, pushing gold prices to record highs.

According to data from the World Gold Council, central banks added a net 863 tonnes of gold in 2025, with purchases strengthening in Q4 as prices hit record highs.

Poland was the largest buyer for a second straight year, followed by Kazakhstan, Brazil, Turkey, and China, while selling activity remained limited.

Gold and Bitcoin both came under heavy selling pressure on the day, with gold retreating from above $5,500 to $5,100 and Bitcoin falling from $88,000 to about $82,000.

The Trump administration is set to nominate Kevin Warsh, a former Federal Reserve governor, as the next Fed chair, Bloomberg reported Thursday, citing people familiar with the situation.

Warsh, 55, visited the White House on Thursday. His selection aligns with President Donald Trump’s push for lower interest rates ahead of current chair Jerome Powell’s term ending in May.

The nomination faces potential obstacles. Senator Thom Tillis has vowed to block any Fed nominee until a Justice Department probe into the central bank’s headquarters renovation is resolved.

Warsh served as Fed governor from 2006 to 2011, becoming the youngest appointee at age 35. During the 2008 financial crisis, he acted as the Fed’s liaison to Wall Street and represented the US at the G20.

Before joining the Fed, Warsh worked as a Morgan Stanley vice president from 1995 to 2002, then served as an economic policy aide in the Bush White House.

In April 2025, Warsh addressed the Group of Thirty and the IMF on “Central Banking at a Crossroads,” advocating for transparency reforms at the Fed.

Treasury Secretary Scott Bessent listed Warsh among candidates to succeed Powell in October 2025. His hawkish stance on monetary policy could create tension with Trump’s preference for lower interest rates.

A trader known as “ETHMegaBear” has earned roughly $84 million in total unrealized profits by shorting Ethereum on Hyperliquid, a decentralized perpetual futures exchange, according to data tracked by Lookonchain.

The #ETHMegaBear(0x20c2) has racked up over $80.9M in profits by shorting $ETH — absolutely insane!

This trader has been shorting $ETH on #Hyperliquid since 2024, consistently using max leverage (previously 50x, now 25x).

He currently holds a 30,582 $ETH($88.9M) short.… pic.twitter.com/wgL2Ba6bHO

— Lookonchain (@lookonchain) January 29, 2026

ETHMegaBear has been shorting ETH on Hyperliquid since 2024, consistently using maximum leverage. The trader currently holds a short position of 30,582 ETH valued at approximately $86 million.

ETHMegaBear’s unrealized profits on his Ethereum short grew today as ETH sold off during a broader market downturn. The second-largest crypto asset fell from above $2,900 to around $2,800, while Bitcoin dropped below $85,000 for the first time since last December, per CoinGecko.

The rapid downturn wiped out approximately $360 million in leveraged positions in just one hour. Traditional markets were also hit, with equities, tech stocks, and gold all experiencing turbulence.