S&P Global is acquiring OpenZeppelin to expand its risk assessment into tokenized finance, while Grayscale is executing a three-for-one split for its Zcash ETF following heavy inflows. Coinbase is seeking CFTC approval for single-stock perpetual futures, even as regulators work on new leveraged trading oversight. Meanwhile, security breaches continue to impact the sector, with Cardano developer IOG suffering a YouTube account hack.
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S&P Global Acquires OpenZeppelin to Expand Tokenized Finance Risk Capabilities
Integrating smart-contract code auditing into traditional ratings frameworks establishes software security as a baseline prerequisite for institutional underwriting of tokenized financial assets.
Global agreed to acquire smart contract security firm OpenZeppelin to expand its digital risk assessment capabilities into infrastructure. OpenZeppelin will operate as a standalone business unit under its own name, with chief executive Demian Brener remaining in charge and reporting to Yann Le Pallec, president of S&P Global Ratings. Financial terms were not disclosed, and S&P Global stated that the transaction is not expected to have a material impact on its financial results. OpenZeppelin provides open-source code libraries that have underpinned more than $37 trillion in cumulative transferred value across , tokenized funds, and protocols since its founding in 2015. The firm has completed more than 900 security engagements and identified numerous vulnerabilities prior to production. Jefferies served as financial advisor to S&P Global with Clifford Chance as legal counsel, while FT Partners advised OpenZeppelin alongside Cooley on legal matters.
Grayscale Zcash ETF Announces 3-for-1 Share Split Following Inflows
Splitting a spot privacy-coin fund's shares lowers retail access barriers, integrating Zcash into traditional brokerage accounts as demand outpaces raw token affordability.
Grayscale announced a 3-for-1 forward share split for its spot Zcash exchange-traded fund, ticker ZCSH, after a rapid surge in values and investor inflows. Shareholders of record at the market close on September 28 will receive two additional shares for every share held, with distribution scheduled after the market closes on September 29. Split-adjusted trading will begin before the market opens on September 30 on NYSE Arca. The product has absorbed more than $233 million in investor since its August 25 launch, pushing net assets to roughly $890 million. The split mirrors Grayscale's previous adjustment of its Ethereum Trust, serving to lower the per-share price and bring it within reach of smaller retail buyers as the underlying token, ZEC, trades above $1,500.
CFTC Submits Crypto Market Regulation Plan for White House Review
Establishing leverage trading guidelines via Dodd-Frank administrative rules gives unregistered crypto exchanges regulatory access, but trades legislative durability for administrative vulnerability.
The Trading Commission submitted a rulemaking plan for the market to the White House Office of Information and Regulatory Affairs on September 17, 2026. The filing follows the Senate's 49 to 50 rejection of the CLARITY Act just two days prior. Chairman Michael Selig invoked Dodd-Frank authority to bypass stalled congressional action, aiming to establish a new designated contract market category for unregistered exchanges to offer leveraged trading. JPMorgan analysts noted that regulatory rules carry less durability than legislation because future commissions or courts can overturn them. The prerule filing requires two comment periods and two OIRA reviews before a binding rule arrives in late 2027.
Coinbase Files to Launch Single-Stock Perpetual Futures in US Market
Translating crypto's native perpetual futures contract into SEC-regulated equity markets threatens to shift US retail stock speculation away from traditional options exchanges.
Cointelegraph.com reports that Coinbase has filed with the Trading Commission to list single-stock perpetual futures in the United States. The proposed would provide traders with 24/5 exposure to individual without requiring ownership of the underlying shares. Unlike traditional contracts, these perpetual futures feature no expiration date. Coinbase plans to initially offer contracts tied to roughly 50 to 60 stocks, including Apple, Microsoft, Tesla, and Nvidia. The filing builds on an earlier Form 1-N submitted to the Securities and Exchange Commission on Sept. 1 to register Coinbase Derivatives as a national securities exchange. The contracts remain pending regulatory approval.
Structuring daily leverage around a corporate Bitcoin treasury concentrates market volatility into equity derivatives without requiring direct spot crypto custody.
cointelegraph.com reports that REX Shares and Tuttle Management launched a leveraged exchange-traded fund designed to deliver twice the daily performance of Strive. The T-REX 2X Long ASST Daily Target began trading Friday on Cboe under the ticker ASSX. The fund resets its daily and holds no directly, instead providing leveraged exposure to Strive shares. Strive currently holds 25,000 Bitcoin, ranking as the fifth-largest publicly traded corporate holder. Strive shares rose 6.4% on Friday to close at $30.09.
Cardano Developer IOG Warns Users After YouTube Channel Hijack
Social media hijackings leveraging fake giveaways expose how open-governance ecosystems like Cardano rely on centralized web2 distribution channels, creating brand-level single points of failure without compromising core protocol security.
Input Output Global warned users to avoid its official YouTube channel after an apparent account takeover began broadcasting a fraudulent livestream. Cardano founder Charles Hoskinson posted the warning on X on September 18, urging the community not to click links or trust videos on the platform. The compromised channel hosted a stream featuring a suspected -manipulated video of Hoskinson using Project Catalyst branding to promote a giveaway. The broadcast promised viewers that they could double their wealth by following instructions tied to a QR code. IOG stated that the team was working directly with YouTube to remove the unauthorized content and reset account credentials. Security warnings emphasized that the core Cardano network remained uncompromised, as the threat was strictly confined to the platform's social media presence. No official wallet addresses or verified loss totals were published in connection with the incident.
VanEck Criticizes Metaplanet Over Executive Dilution
Bitcoin treasury strategies rely on per-share digital asset accrual, which dilutive officer equity pools directly cannibalize even when share issuance is tied to reserve accumulation.
Cointelegraph.com reports that manager VanEck has criticized Metaplanet over its executive compensation structure. In a Friday report examining the 10 largest digital asset companies, VanEck labeled Metaplanet's compensation structure as "Bad," making it the sole firm in the lowest tier. VanEck cited an plan equal to 14.7% of fully diluted shares and officer exposure of 8.2%. The firm noted that Metaplanet's officer exposure is roughly 10 times the 0.8% average of its peers, while its overall equity plan is nearly four times the peer average. By comparison, Strategy maintains an equity plan equal to 2% of fully diluted shares and officer exposure of 0.5%. Metaplanet operates as a Japanese treasury company and currently holds 43,000 BTC. The disparity stems partly from a former compensation structure that allowed the pool to expand automatically during Bitcoin purchases, growing the pool from 46 million shares to 319.5 million shares. Metaplanet ended the automatic adjustment mechanism in August and cut the pool by 41% in September to 188.2 million shares. VanEck argued that these changes still fall short and recommended reversing the roughly 273 million-share expansion created by the prior clause.
Expanding institutional infrastructure and novel leveraged products face ongoing security flaws and fresh regulatory uncertainty from the CFTC. Whether new derivative offerings can gain approval under shifting oversight rules is unresolved.
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