Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms
Summary
Wall Street analysts argue that recent multi-billion dollar crypto thefts stem from specific exchange vulnerabilities rather than an industry-wide security crisis. To minimize these risks, financial firms suggest clients invest in publicly traded equity proxies linked to the digital asset sector instead of holding tokens directly.
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.
Source: Read the full story at Decrypt
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