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).
President Donald Trump pulled a rabbit out of his trade war hat this week, announcing a trade deal with Japan putting 15% tariffs on most Japanese imports.
Nextdoor CEO Nirav Tolia shares how the neighborhood app's redesign aims to inform, connect, and protect communities with smarter features and local insight.
Tim Bohen dives into the 'Trump Trade,' renewed tariffs, waning uncertainty, corporate guidance, and what the Fed’s next move means for traders and markets.
Wall Street icon Peter Tuchman dives into Apex Trader Funding’s partnership with Wall Street Global Trading Academy and what it means for the next-gen trader.
Matthew Frankel, contributing analyst at The Motley Fool, discusses the recent SPAC resurgence, investor interest, and what the data says about their future.
Axios’ Neil Irwin unpacks the political clash as the White House explores legal pathways to dismiss Fed Chair Powell, threatening central bank independence.
Shark attack survivor Paul de Gelder joins us to talk Navy diving, bull sharks, and his wild return in Air Jaws and more during Discovery’s Shark Week!
