Daily Brief: September 9, 2025

🚨 NPM Attack Puts Crypto Wallets at Risk

A major supply chain attack has compromised popular JavaScript libraries on NPM, affecting millions of crypto users. Hackers have inserted malware into libraries like chalk and strip-ansi, which are downloaded over a billion times each week. This malware swaps wallet addresses, redirecting funds to the attackers.

This attack is one of the largest in open-source history, specifically targeting crypto transactions by altering wallet addresses. Users of software wallets are most at risk, while hardware wallets provide better security. Ledger's CTO advises verifying transactions on hardware devices.

The breach affects multiple blockchains, including Ethereum and Solana, and underscores the systemic risks in software dependencies. The compromised packages have been downloaded over a billion times, highlighting the urgent need for secure transaction verification methods.

Why it matters: This attack exposes critical weaknesses in open-source software, posing financial risks to crypto users and highlighting the need for stronger security measures.

📈 Nasdaq Aims to Trade Tokenized Securities

Nasdaq is seeking SEC approval to trade tokenized securities, which are digital versions of stocks and ETFs, on its main exchange. This initiative could allow investors to trade these blockchain-based assets alongside traditional ones without changing existing trading systems. If the SEC gives the green light, Nasdaq aims to start tokenized trading by late 2026, depending on infrastructure readiness.

This proposal aligns with the SEC's interest in modernizing securities markets through blockchain technology. Nasdaq's tokenized stocks would provide the same rights as traditional shares, including voting and liquidation rights. This effort positions Nasdaq as a leader in integrating blockchain into traditional finance, following similar moves by platforms like Robinhood.

Nasdaq's filing with the SEC is part of a broader industry trend toward tokenization, with companies like Coinbase and Galaxy Digital exploring similar paths. The SEC supports this direction, viewing it as a way to transform market structures while ensuring regulatory compliance. If successful, this could greatly enhance market efficiency and accessibility.

Why it matters: Allowing tokenized securities on Nasdaq could revolutionize trading by merging traditional finance with blockchain, boosting market liquidity and accessibility.

💰 Forward Industries Secures $1.65B for Solana Treasury

Forward Industries has announced a substantial $1.65 billion investment to create the largest Solana-focused treasury. Led by Galaxy Digital, Jump Crypto, and Multicoin Capital, this initiative aims to elevate Solana's standing in the crypto world. The investment will enable Forward Industries to actively participate in decentralized finance markets, enhancing shareholder value.

This funding marks a pivotal shift for Forward Industries, originally a design firm, as it transitions into a significant player within the Solana ecosystem. Following the announcement, the company's shares surged 128% in pre-market trading. With this backing, Forward Industries plans to generate on-chain returns and compete with other Solana treasury companies like Upexi and Sharps Technology.

The involvement of key industry leaders on Forward Industries' board highlights the strategic importance of this move. The treasury will nearly triple the size of the current largest Solana treasury, reflecting strong institutional confidence in Solana's growth potential. This development underscores a broader trend of companies building large-scale crypto treasuries to generate active returns.

Why it matters: This substantial investment and backing by major crypto firms highlight increasing institutional trust in Solana’s blockchain technology and its ecosystem, potentially accelerating adoption and innovation.