PANews reported on April 22 that, according to CoinDesk, Jefferies analyst Andrew Moss warned that a security breach in Kelp DAO worth approximately $293 million could prompt major Wall Street banks to reassess the pace of their blockchain and tokenization projects. The vulnerability exposed critical infrastructure risks in cross-chain bridges and single validator configurations.

Moss stated that while tokenization initiatives by traditional financial institutions are accelerating, such security incidents could temporarily slow adoption within traditional finance due to risk reassessment. He warned that without secure cross-chain bridges, markets could become fragmented, limiting the utility of tokenized assets. He anticipates the incident will not spread to traditional financial markets, but the loss of trust could hinder adoption in the short term. Companies may pause or slow deployments, review vulnerabilities, and rethink system design. However, Moss believes the long-term prospects for stablecoins in areas such as cross-border payments and payroll remain intact. The report notes that the digital asset industry still needs time to mature and requires more robust systems to securely scale tokenization.