Wall Street Firms Advise Buying Crypto‑Linked Stocks After Binance Hack

Cantor Fitzgerald, TD Cowen and Compass Point told clients that the $6.4 billion Binance hack— the largest in crypto history— is unlikely to derail the broader market’s recovery. They framed the sell‑off as a buying opportunity for regulated, exchange‑listed proxies such as Coinbase, Robinhood and Strategy, arguing that these stocks offer crypto exposure without the custody risk highlighted by the hack. The firms cited that roughly $3 billion of the stolen funds have been frozen by stable‑coin issuers—Tether $1.5 billion, Circle $800 million and Ripple $200 million— and that Binance has sufficient liquidity to cover the loss. Moody’s warned of heightened cyber‑security and concentration risks, noting that the ultimate impact will depend on losses, counterparties, asset recovery and potential confidence erosion. The analysts’ stance follows Bitcoin’s slide toward $77 k after the incident.