Daily Crypto Briefing – December 12, 2025

The crypto markets showed mixed signals today as regulatory developments dominated headlines while Bitcoin struggled to maintain momentum above $92,000 following the Fed's latest rate cut.

Top Stories

SEC Greenlight for Tokenized Securities The Depository Trust & Clearing Corporation (DTCC) received SEC approval to offer tokenized real-world assets through a subsidiary, marking a significant step toward bringing traditional securities on-chain. The no-action letter signals growing regulatory acceptance of blockchain-based financial infrastructure.

YouTube Adopts Stablecoin Payments YouTube now allows U.S. content creators to receive payouts in PayPal's PYUSD stablecoin, representing one of the most high-profile mainstream adoptions of stablecoin payments to date. The integration could accelerate crypto adoption among content creators.

Do Kwon Sentenced to 15 Years Terraform Labs co-founder Do Kwon received a 15-year prison sentence for his role in the $40 billion Terra ecosystem collapse. The sentence exceeded prosecutors' 12-year recommendation, sending a strong message about accountability in crypto fraud cases.

Phantom Integrates Prediction Markets Solana wallet Phantom partnered with Kalshi to bring prediction markets directly into its interface, adding real-time odds and community features alongside existing trading tools.

Regulation

SEC & CFTC Developments

• DTCC tokenization approval: SEC grants subsidiary permission to tokenize U.S. securities starting 2026
• CFTC guidance withdrawal: Agency rolls back 2020 crypto delivery rules as part of broader reform efforts
• XRP ETF launch: 21Shares XRP ETF goes live after SEC declares S-1 effective
• Prediction market relief: CFTC grants no-action letters to Polymarket, Gemini, PredictIt, and LedgerX

Legislative Progress

• Senate crypto bill: Lawmakers report "real progress" on comprehensive crypto legislation after bank CEO meetings

Markets

Bitcoin & Major Assets

• Bitcoin whale activity: Large holders sold $3.37B in December, signaling potential distribution phase
• Post-Fed performance: BTC remains range-bound near $92K despite rate cut optimism
• Options expiry: $4.3B in BTC and ETH options expire today amid sideways price action

Altcoin Movements

• Memecoin weakness: PENGU crashes 10% as broader memecoin market struggles
• HBAR decline: Hedera falls below $0.13 amid crypto market volatility
• XRP pressure: Token drops below $2 as traders watch $1.90 support level

Technology & Infrastructure

DeFi Developments

• Jupiter stablecoin: JupUSD launch planned for next week on Solana ecosystem
• dYdX expansion: Platform launches Solana spot trading with zero fees for U.S. users
• Coinbase-Chainlink partnership: CCIP selected as exclusive bridge partner for wrapped assets

Enterprise Adoption

• JPMorgan tokenization: Bank facilitates Galaxy's $50M debt offering using Solana-based USCP tokens
• Standard Chartered-Coinbase: Partnership expands institutional crypto services including custody and staking

Quick Hits

• Binance compliance: Exchange partially froze Upbit hack funds following South Korean police request
• Save the Children: Charity launches Bitcoin fund for emergency aid payments
• Michael Saylor: Teases potential bank meeting regarding Bitcoin adoption
• World Project upgrade: Sam Altman's iris-scanning app adds encrypted chat with crypto payments
• HIVE listing: Bitcoin mining firm becomes first to list on Colombian exchange
• Klarna partnership: Swedish fintech teams with Privy for crypto wallet development
• Ark Invest activity: Cathie Wood's firm buys $15.4M in Robinhood shares and more Bitcoin ETF
• AI regulation: [New York mandates AI disclosure](https://decrypt.co/352132/new-york-mandates-ai-advertising-disclosures-faces-showdown-over-trump