A reported $6.3 billion Binance theft is unlikely to interrupt the cryptocurrency market’s recovery, analysts from Cantor Fitzgerald, TD Cowen and Compass Point said in a Friday report. Cantor Fitzgerald analyst Ramsey El-Assal said Tether had frozen more than $1.5 billion, Circle about $800 million and Ripple roughly $200 million. He said Coinbase, Robinhood and Strategy could recover after the panic subsides and that he would buy if share prices weakened, describing the episode as painful but unlike 2022. Earlier, Ballet founder Bobby Lee said stolen Bitcoin was extremely unlikely to be recovered because hackers controlled it, while trader Killa said the incident could eventually mark a market bottom similar to FTX’s collapse. Binance said a compromised employee computer was only the beginning and could not transfer funds by itself. Lee said stablecoins were the only assets realistically vulnerable to freezing, though recovery would still require lengthy cooperation with law-enforcement agencies. Killa said Binance could establish multibillion-dollar long positions, may have generated about $1 billion from liquidations, slippage and trading fees, and remained positive on crypto’s medium- and long-term outlook. Lee also said Bitcoin’s limited price decline pointed to a more mature market.