Crypto
Coldcard Hack Sparks Shift to Professional Custody Services
The recent Coldcard hack has sent shockwaves through the cryptocurrency community, but Wall Street analysts believe it could have an unexpected silver lining for some companies.
Cantor Fitzgerald notes that some Coldcard users may decide to switch to professional custody services, potentially leading to increased customer inflows and revenue growth at Robinhood (HOOD), Coinbase (COIN), BitGo (BTGO), Bullish (BLSH), eToro (ETOR), and Gemini (GEMI).
This development could boost demand for spot Bitcoin ETFs, as investors who are hesitant to manage private keys may see them as a more attractive alternative.