News of the largest ever crypto hack had the potential to roil markets Friday, but one analyst was surprised at how prices reacted.
“I would’ve thought that the whole crypto landscape would've been down quite a bit on this news of a major Japanese exchange getting hacked,” said Michael Graham, senior equity analyst at Canaccord Genuity. “I think that the fact that the crypto markets are sort of being resilient in the face of the potentially biggest hack on one of the crypto exchanges is pretty interesting.”
His statements come after Tokyo-based crypto exchange Coincheck confirmed it loss more than $500 million worth of NEM tokens. That could make it larger than the infamous Mt. Gox hack of 2014, which saw $340 million stolen from digital wallets. At the time, though, that accounted for a much larger portion of the crypto market.
Graham did have advice for investors worried their assets could be compromised.
“Most people recommend, if they’re owning a material amount of the crypto assets, put those in cold storage, which means just buy a wallet that you can take off the network and store in a safe place in your home. And that way it’s absolutely immune to attack.”
For full interview [click here](https://cheddar.com/videos/why-major-cryptocurrencies-are-having-a-relatively-flat-week).
A $1 billion loss from a six-week strike did not crash GM's net income last year, which instead rose 12% — and the automaker expects improvement in 2024, too.
Accrue CEO and founder Michael Hershfield explains why Americans' credit card delinquencies are on the rise, advice on what can help, and the key difference between Boomers and Gen Z when it comes to money.
Senior Economist at Morning Consult Kayla Bruun shares thoughts on what to expect from the Fed's January meeting and where monetary policy is headed, as well as how consumers are faring.
Former Medtronic CEO and author of 'True North' Bill George explains the steps Boeing leadership must take to regain client and consumer trust after 737 Max 9 production was stopped.
Amazon blamed "regulatory hurdles" for calling off its proposed acquisition of robot vacuum maker iRobot. Not even a Roomba could clean up the deal's antitrust scrutiny.
To celebrate Flutter Entertainment's debut on the NYSE, FanDuel CEO Amy Howe shares her thoughts on the company's plans for growth, the future of online sportsbetting, and Super Bowl Sunday.
Investopedia's Caleb Silver shares thoughts on the upcoming Fed meeting, why individual investors are still slightly skeptical, and what he's looking for from mega cap tech earnings.
Season's greetings! Tax season, that is. January 29 is the first day you can file your tax return. We walk you through each step — plus a checklist you can download.
The Q-Collar helps protect athletes from impact-related concussions. Now, the U.S. Army is evaluating if the device could help reduce traumatic brain injury cased by blast weapons.
