Wall Street analysts call the Binance hack selloff a buying opportunity for crypto stocks

Firms including Cantor Fitzgerald, TD Cowen and Compass Point say the approximately $6.3 billion theft is unlikely to derail the market's recovery, while Moody's flags hot-wallet risks Crypto just suffered the largest theft in its history. Wall Street’s response was to tell clients to go shopping. Analysts at Cantor Fitzgerald, TD Cowen and Compass Point are framing the recent Binance breach as a dip worth buying in crypto-linked equities rather than a signal to exit. Their argument is that the hack is unlikely to throw the broader market’s recovery off course or to threaten the solvency of the exchange itself.

Also reported by TheStreet Crypto.

Source: Crypto Briefing