Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
AI summary
Wall Street analysts at Cantor Fitzgerald, TD Cowen and Compass Point are framing the record $6.4 billion theft as a Binance-specific security failure rather than a crypto-wide threat. They are steering clients toward equity proxies such as Coinbase, Robinhood and Strategy instead of direct crypto exposure. The read matters for traders weighing whether the hack damages broad crypto confidence or stays contained to one exchange and its token.
