Today's Cryptocurrency News (December 12) | SEC approves DTCC custody of tokenized stocks; Hex Trust to issue and custody wXRP

This article summarizes cryptocurrency news as of December 12, 2025, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time cryptocurrency prices, and price forecasts. Major Web3 events today include:

1. US SEC Permits DTCC to Custody and Recognize Tokenized Stocks and Other RWA Assets

According to Bloomberg, the U.S. Securities and Exchange Commission (SEC), in the form of a no-action letter, granted permission to the Depository Trust & Clearing Corporation (DTCC) to custody and recognize tokenized stocks and other real-world assets (RWA) on the blockchain. This allows DTCC to provide three-year tokenization services on a pre-approved blockchain. SEC Commissioner Hester Peirce stated in a release: “Although the project is still in its pilot phase and subject to operational restrictions, it marks an important step towards market migration onto the chain.” Michael Winnike, head of global strategy and market solutions for DTCC’s clearing and securities services division, said in an interview that after obtaining the license, DTCC will expand its record-keeping work to include blockchain.

As a core clearing and settlement hub in the U.S. financial system, DTCC plays a significant role in equities and fixed income products. Many liquid assets in the U.S. market are held in DTCC’s custody division—Depository Trust Co. The company plans to launch new tokenization services in the second half of next year.

2. U.S. Financial Stability Oversight Council (FSOC) No Longer Considers Digital Assets a Potential Risk

According to CoinDesk, the cryptocurrency sector no longer needs to be mentioned in the annual list of risks to the U.S. financial system compiled by FSOC, though this is not an isolated case, as the report has largely shifted away from emphasizing the “fragility” of the financial system. The 2025 FSOC report’s table of contents completely omits the frequently appearing term “vulnerability,” and Treasury Secretary Scott Bessent acknowledged in the introductory letter that previous analyses focused on identifying dangers that could disrupt the financial system.

The 2025 report does not include “recommendations” regarding digital assets nor explicitly express concern over the industry. Instead, its section on digital assets details how U.S. financial regulators with crypto oversight have shifted their policy stances. The report mostly praises the advantages of digital assets but notes in the “Illegal Finance” subsection that stablecoins could “be abused to facilitate illegal financial transactions.” However, it also states, “Over the next decade, the continued use of dollar-denominated stablecoins is expected to further solidify the dollar’s position in the international financial system.”

3. Hex Trust to Issue and Custody wXRP to Expand DeFi Applications Across Multiple Blockchains

Hex Trust plans to issue and custody wXRP, a token anchored 1:1 to XRP, to expand its application scope within decentralized finance (DeFi) and cross-chain scenarios.

As a regulated custodian, the company states that this move will break the restriction that XRP can only circulate on the XRP Ledger; on public chains like Ethereum, which already hosts Ripple’s stablecoin RLUSD, wXRP will be paired with RLUSD to provide market liquidity.

In a statement released to blockchain media outlet The Block, Hex Trust noted that authorized merchants can mint and redeem wXRP in a secure, automated, and fully compliant environment. The company emphasizes that wXRP is fully pegged to its native XRP held under its compliant custody, supporting full redemption; users can also earn yields through partnered DeFi platforms.

The total value locked (TVL) at launch of wXRP will exceed $100 million. Hex Trust states this scale will provide a solid initial liquidity foundation for the token, ensuring trading smoothness and price stability.

4. Swift Collaborates with Ant International and HSBC to Complete Cross-Border Tokenized Deposit Payment Test

Ant International, HSBC, and Swift successfully tested cross-border transfers using tokenized deposits — the first case of cross-border tokenized deposit payments utilizing the Swift network and ISO 20022 messaging standards. During the test, Ant International and HSBC in Singapore connected Ant’s blockchain infrastructure to the Swift network, enabling real-time cross-border fund management between Singapore and Hong Kong via HSBC’s tokenized deposit service. Swift and HSBC introduced a universal protocol, allowing Ant International to avoid establishing separate bilateral arrangements with each bank. The three companies stated that the solution achieved interoperability on the Swift network through ISO 20022 standards, combining Ant’s technology with HSBC’s tokenized deposit services.

5. Bitwise Supports Strategy: MSCl Rule Changes Deprive Investors of Digital Asset Investment Opportunities

Digital asset management firm Bitwise issued a statement on X supporting Strategy, expressing disappointment over MSCl’s proposal to remove Strategy from its global investable market index. The index aims to accurately reflect the market rather than assess specific business models, and should remain neutral. Bitwise believes that exchange-traded products cannot replicate Strategy’s operations, and that Strategy has created value for shareholders. The rule changes proposed by MSCl deprive investors of opportunities to invest in digital assets and industry leaders, putting them at a disadvantage.

6. Meshflow Acquisition Completes $345 Million Private Placement, Plans Mergers in Web3 Sector

NASDAQ-listed special purpose acquisition company Meshflow Acquisition announced the completion of its initial public offering, issuing 34.5 million units at $10 each, raising a total of $345 million. The company will seek mergers, acquisitions, stock swaps, asset purchases, stock buybacks, reorganizations, or similar business combinations in areas including crypto infrastructure, decentralized coordination tools, Web3 middleware, asset tokenization, and decentralized finance protocols.

7. Stream Finance Founder Sues Business Partner, Accuses Them of Embezzling $93 Million to Cover Personal Losses

According to DL News, in early November, Ethereum-based yield protocol Stream Finance claimed that an “external fund manager” lost $93 million in cryptocurrency, accounting for about 17% of entrusted assets. On Monday, co-founder of Stream filed a lawsuit under the name Stream Trading Corp., accusing Georgia resident Ryan DeMattia of misappropriating funds after defaulting on a personal loan, to cover his personal losses; also accusing Florida resident Caleb McMeans of failing to fulfill the agreement made when taking over the protocol and brand in January this year. The court action seeks enforcement. The lawsuit details the brief and tumultuous history of the Stream protocol, which operated for only nine months before shutting down in November 2024 due to slowing growth and “operational challenges.” After acquiring the protocol, McMeans took full control as per the agreement; Stream was a service provider, and McMeans was responsible for fees, risks, and transparency of funds. However, after multiple off-chain agreements, it became increasingly difficult to monitor Stream’s trading strategies in real-time. In September, the co-founders demanded greater transparency, but McMeans delayed. He later admitted that he had allowed “employees” including DeMattia to invest over $90 million off-chain and helped DeMattia evade inquiries from the co-founders. McMeans ultimately relented, denying any formal relationship with DeMattia, and agreed to withdraw the cryptocurrencies entrusted to that “employee.”

8. Sei Clarifies Cooperation Details with Xiaomi Phones, Future Launch of App-Exclusive Features

In response to the earlier “Xiaomi pre-installed Sei app” matter, Sei officials issued a statement on X explaining: “Brief clarification regarding Xiaomi phone news: The focus of this cooperation is to pre-install Sei-based mobile financial applications and enable Web3 access for mobile users. Currently, Xiaomi will not directly support or operate any digital currency payment functions or stablecoins. Exclusive features based on the Sei app will continue to be released, please stay tuned.”

9. Solana Ecosystem’s MEV-Based Liquidity Staking Reward Protocol Toby to Launch Token

The Solana ecosystem’s MEV-based liquidity staking reward protocol Toby announced at the Breakpoint conference that it will launch the TOBY token, aiming to bring baseline revenue to Solana through OpenMEV. OpenMEV plans to serve the ecosystem’s real yield demand of $10 billion and will integrate with major protocols such as Jupiter, Sanctum, Kamino, and Drift.

10. Yili Hua: Bullish Ethereum Driven by Reinforced Wall Street Consensus and Three Key Factors

Yili Hua, founder of Liquid Capital (formerly LD Capital), posted on social media expressing a continued bullish outlook on Ethereum. The reasons are: First, reinforced Wall Street consensus: SEC Chair’s latest statement that “financial migration to on-chain,” with U.S. political and economic elites jointly promoting the tokenization of U.S. debt, with Ethereum as the core carrier. Second, Fusaka upgrade reshaping value: Blob fees surged, burning over 1500 ETH daily, accounting for 98%. The thriving L2 ecosystem is strongly rewarding the mainnet, with deflation imminent. Third, technical cleansing: speculative leverage dropped to a historic low of 4%, with only 10% held on centralized exchanges. ETH/BTC is range-bound and resistant to drops, with shorts exhausted and a short squeeze imminent. In the easing rate cycle, capital is rotating from BTC into practically valuable ETH.

11. Construction Bank Responds to Dogecoin Lock Due to Transfer Memo: High Risk Detected, Account Set to “No Receive No Pay” Status

Recently, Ms. Yu and her husband transferred 250 yuan as pocket money via China Construction Bank, with the remark “This week Dogecoin,” and their accounts were frozen after bank investigation. They received calls from CCB staff verifying their relationship and the transfer remark, which triggered “virtual currency regulation,” leading to accounts being set to “No Receive No Pay.” The account opening staff told Ms. Yu that to unfreeze the account, she needed to submit her husband’s bank statements from the past few months and sign a letter of commitment stating that there had been no virtual currency transactions before and no participation in such activities in the future. Her husband strongly opposed the account restrictions and is negotiating with the bank staff. China News Weekly contacted CCB’s customer service, which stated they have not received any information related to virtual currency regulation and suggested consulting the local branch. The weekly also contacted the branch in Tianjin where Ms. Yu’s account is held; staff there said they were unaware of the situation. The staff at the Dalian branch where her husband’s account is held said that if the account involves virtual currency transactions, the bank would restrict it with a “No Receive No Pay” control, and if the transfer memo states “Dogecoin,” proof must be provided that the remark is unrelated to virtual currency. But how to prove it is unclear—if only bank statements are provided, they cannot serve as valid proof, so such accounts cannot be unfrozen and can only be closed. The specific rules are not clearly disclosed. Currently, Ms. Yu has submitted her husband’s bank statements and a handwritten letter of commitment, applying for account restriction removal; her husband’s bank staff replied that submitting their marriage certificate would suffice for lifting restrictions. The Xinhua News Agency and seven associations including the China Internet Finance Association jointly issued a risk alert, urging members not to participate in virtual currency issuance and trading activities within China and reminding the public to recognize risks and stay away from illegal activities.

12. World App Announces Major Upgrade: Adds Encrypted Chat, Virtual Accounts, and Payments Supporting Over 100 Crypto Assets

World announced a major upgrade to its app, introducing encrypted chat, virtual accounts, and support for payment in over 100 cryptocurrencies, moving toward a “super app” integrating identity verification and global payments. Led by Sam Altman, the project aims to provide reliable human identity verification tools amid rapid AI development.

According to the official release, this upgrade allows users to send, deposit, and withdraw cryptocurrencies within the World wallet and virtual accounts, offering a convenient payment experience similar to Venmo. The new version supports USDC, EURC, wrapped Bitcoin, Ethereum, and over 100 other tokens, covering a broader crypto ecosystem.

The upgrade launch event was held at World’s headquarters in San Francisco, where Sam Altman and co-founder and CEO Alex Blania introduced the enhanced features. The team emphasized that the new app integrates identity verification, financial operations, and core communication, creating the first crypto identity-driven mobile payment tool.

The new encrypted chat feature supports end-to-end encryption, with verified users distinguished by blue and gray bubbles, ensuring secure and private communication. User profile photos are matched with data stored on the device for further identity verification.

Besides chat, the new app includes a virtual account system, allowing users to receive salaries, deposit funds from banks, and convert them into cryptocurrencies directly within the app. The platform also enables exchanges and trading of the World Chain native tokens and tokenized real-world assets like gold, offering users more asset options.

Since its launch in 2023, World has continuously enhanced its identity verification capabilities. The iris scan project launched in May can capture facial and iris data in 30 seconds to generate a unique IrisCode for on-chain identity recognition. With this upgrade, World further improves its ecosystem and promotes the adoption of cryptocurrencies in everyday scenarios.

13. Jump Crypto’s Solana Validator Client Firedancer Officially Launches Mainnet

According to official sources, Jump Crypto’s independent Solana validator client Firedancer announced that after three years of development, it has officially launched on the Solana mainnet, running stably on a few validator nodes for 100 days and successfully producing 50,000 blocks.