In this episode of the Coin Street headlines, we dive into the latest headlines shaking up the crypto world. We take a look at the largest supply chain attack in history, where hackers compromised popular JavaScript software libraries to steal crypto. The SEC’s consideration of new generic listing standards for crypto and commodity-based ETFs, potentially streamlining the approval process. Ex-Celsius CEO Alex Machinsky begins a 12-year prison sentence after pleading guilty to felony charges related to false statements about the company’s Earn program. OpenSea’s announcement of an NFT reserve, featuring CryptoPunk as the first buy, amidst a shifting landscape in the NFT sector. Jane King with the latest from the NYSE.
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Here's a look at your Coin Street headlines.
Hackers have compromised widely used JavaScript software libraries in what's being called the largest supply chain attack in history.
The injected malware is reportedly designed to steal crypto by swapping wallet addresses and intercepting transactions.
According to several reports, hackers broke into the node package manager account of a well-known developer and secretly added malware to popular JavaScript libraries used by.
Millions of apps.
Well, the SEC is considering a set of proposals from NASDAQ, NIE, AA, and the CBOE to adopt generic listing standards for crypto and commodity-based ETFs.
These rules would allow qualifying funds to list without requiring bespoke SEC approval.
The current approval process for crypto ETFs is cumbersome.
Each new filing can take 240 days or longer, involving rounds of public comment, staff review, and often prolonged.
Uncertainty.
Generic listing standards would cut the timeline to 60 to 75 days, making bringing new products to market far easier.
ExcelCS CEO is set to start a 12-year prison sentence this week.
Alex Moshinsky pleaded guilty to two felony counts in December, admitting in court to making false statements about the platform's URN program.
The company filed for bankruptcy in the US in July 2022, followed by Moshinsky's resignation.
CEO a few months later, and OpenCa announced an NFT reserve with Crypto Punk as the first buy.
The NFT sector is yet to recapture the enthusiasm of 2021-2022, forcing many NFT centric companies like Open Sea to pivot to more in-demand crypto use cases.
CMO Adam Hollander said buying decisions will be guided by a cross-functional team of employees and external advisors from the digital art world, and that's the latest Coin Street headlines.