--- title: "Wall Street analysts call Binance hack a buying opportunity for crypto stocks" description: "Analysts at Cantor Fitzgerald, TD Cowen and Compass Point said in Friday notes that the record Binance theft is a security failure at the exchange rather…" language: en canonical: "https://whycoinmoves.com/en/events/bitcoin-worried-about-crypto-hacks-buy-45c1441d44c10e" published: 2026-10-30T20:07:57.000Z updated: 2026-10-30T21:09:00.000Z indexable: true --- # Wall Street analysts call Binance hack a buying opportunity for crypto stocks Analysts at Cantor Fitzgerald, TD Cowen and Compass Point said in Friday notes that the record Binance theft is a security failure at the exchange rather… Attributed sources: [Decrypt]() ## Key facts Analysts at Cantor Fitzgerald, TD Cowen and Compass Point said in Friday notes that the record Binance theft is a security failure at the exchange rather than a crypto-wide threat, Decrypt reported. Cantor's Ramsey El-Assal said stablecoin issuers and others froze roughly $3 billion of the stolen funds, including more than $1.5 billion by Tether. Evidence strength: Single source, 1 publisher group(s) (Decrypt). After site detection, observed returns were 5 minutes: +0.06% (Oct 30, 2026, 20:07 → Oct 30, 2026, 20:12, UTC; Gate · USDT); 1 hour: -0.35% (Oct 30, 2026, 20:07 → Oct 30, 2026, 21:07, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.23% (OKX · USDT; cutoff Oct 30, 2026, 20:07, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | +0.06% | +0.06% | 0.00 pp | Oct 30, 2026, 20:07 → Oct 30, 2026, 20:12 | Gate · USDT | | 1 hour | -0.35% | -0.35% | 0.00 pp | Oct 30, 2026, 20:07 → Oct 30, 2026, 21:07 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.14% | | 99th percentile of absolute hourly returns | 1.23% | | BTC beta | 1.00 | | Source / cutoff (UTC) | OKX · USDT / Oct 30, 2026, 20:07 | ## Claims and open questions - Decrypt reported that Cantor Fitzgerald, TD Cowen and Compass Point analysts said the theft, which they put at roughly $6.3 billion, is unlikely to derail the broader market's recovery, with Cantor's Ramsey El-Assal writing 'we would be buyers on weakness.' - Cantor's Ramsey El-Assal noted that stablecoin issuers and others froze roughly $3 billion of the stolen funds, with Tether freezing more than $1.5 billion, Circle about $800 million and Ripple around $200 million, according to Decrypt. - Decrypt reported that Binance has set aside $6.34 billion to cover losses and told users their assets are safe, while Compass Point's Ed Engel and Michael Donovan said Binance has 'more than enough liquidity to cover the hole' and flagged the $75,000 to $77,000 Bitcoin range as a key level. - Whether Binance has published a formal statement on the $6.34 billion set-aside and how the funds will be distributed to affected users. - What the Secret Service and FBI probe has established about the TraderTraitor group's role, beyond the attribution firms TRM and Chainalysis have reported. ## Source evidence - [Worried About Crypto Hacks? Buy Bitcoin Proxies in Stock Market Instead, Say Wall Street Firms]() — Decrypt; published Oct 30, 2026, 20:06; received Oct 30, 2026, 20:07 (UTC). ## Recent BTC events and market reactions - [Binance confirms record $6.4 billion hack as Bitcoin holds steadier than in 2018]() — Published Oct 30, 2026, 18:45 (UTC) · Single source (1 publisher) · Security · 5m -0.13% / 1h +0.13% - [SEC charges two companies over $130 million crypto investment scheme]() — Published Oct 30, 2026, 14:38 (UTC) · Single source (1 publisher) · Regulation · 5m +0.00% / 1h +0.78% - [Analysts keep buy ratings on Strategy after preferred-stock changes]() — Published Oct 30, 2026, 14:30 (UTC) · Single source (1 publisher) · General news · 5m +0.21% / 1h +0.79% - [Chainalysis and TRM Labs link $6.3 billion Binance hack to North Korea's TraderTraitor]() — Published Oct 30, 2026, 14:13 (UTC) · Single source (1 publisher) · Security · 5m +0.23% / 1h +1.42% - [Doomberg calls US Treasury pressure on central banks wildly bullish for Bitcoin]() — Published Oct 30, 2026, 13:26 (UTC) · Single source (1 publisher) · Regulation · 5m -0.22% / 1h -0.58% - [Full coin archive]() ## Research for this archive - [Crypto hacks and price impact: Bybit and Cetus case studies]() - [Why is crypto moving? How to check the evidence behind a price explanation]() - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished. [Methods and limitations]()