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'Only in Crypto': What the OKEx Mess Says About New and Old Finance

On Friday morning, as the OKEx withdrawal-freeze story twisted and turned, CoinDesk's editors had an off-the-cuff discussion about the fundamental realities and unique challenges of security for even the largest exchanges.

Na-update Set 14, 2021, 10:11 a.m. Nailathala Okt 17, 2020, 2:00 p.m. Isinalin ng AI
People inside a bank vault, Los Angeles, California, 1950s.
People inside a bank vault, Los Angeles, California, 1950s.

When will we ever learn? Not your keys? Not your coins.

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On Friday morning, as the OKEx withdrawal-freeze story twisted and turned, CoinDesk's editors had an off-the-cuff discussion about the fundamental realities and unique challenges of security for even the largest exchanges.

Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.

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Crypto custodian BitGo a potential acquisition target for Wall Street firms, analysts say

BitGo at NYSE. (X/Matt Ballensweig)

Compass Point and Canaccord call BitGo a potential acquisition target and defend the stock despite its weak debut, citing growth in institutional crypto infrastructure.

Lo que debes saber:

  • Wall Street analysts say BitGo’s expansion into full-service institutional crypto finance could drive long-term growth and make it an attractive acquisition target for traditional financial firms.
  • Analysts argue that investors are overlooking BitGo’s potential to cross-sell prime brokerage-style services, which could significantly boost revenue if it can narrow the gap with rivals like Galaxy and Coinbase.
  • Despite BitGo’s stock falling more than 40% since its January IPO, some analysts view the selloff as an overreaction and maintain buy ratings, citing the company’s solid competitive moat and strategic value to big banks entering crypto.