Follow UsWorried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
Bullish-8.39%
30 Oct, 20:06
Source: Decrypt
AI Summary
Wall Street analysts recommend investing in US-listed crypto proxies like Coinbase, Robinhood, and MicroStrategy following a $6.4 billion security breach at Binance, viewing it as an isolated incident rather than a systemic crypto threat.
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say the record $6.4 billion theft is a Binance security failure, not a crypto-wide threat, pointing clients toward proxies like Coinbase, Robinhood, and Strategy.