Wall Street gains direct oversight of Web3 security as S&P Global buys OpenZeppelin

S&P Global has agreed to acquire smart contract security company OpenZeppelin in a transaction that would put the crypto company inside the group that includes S&P Global Ratings.The transaction remains subject to closing conditions, S&P Global's announcement said. Financial terms were not disclosed, and S&P said it does not expect the deal to materially affect its financial results.Future Contracts versions will also stay open source, and OpenZeppelin extended that commitment to its other open-source applications and tools.OpenZeppelin says more than $37 trillion in value has been transferred through its Contracts software since 2015.The current OpenZeppelin Contracts repository uses the MIT License, which grants broad rights to use, copy, modify, and distribute the software. Separately, OpenZeppelin said released versions will remain open source permanently and cannot be withdrawn.S&P says OpenZeppelin would keep its name and operate as its own business unit after closing. Demian Brener would continue leading the company and report to Yann Le Pallec, president of S&P Global Ratings.OpenZeppelin also said its security audits, engineering work and ecosystem ...