On December 12, Hex Trust announced it will introduce wrapped XRP (wXRP) on Solana and other networks, including Ethereum, as a fully collateralized 1:1 representation of XRP. The rollout is planned to start with more than $100 million in locked value, while XRP's price trades around $2.03 after a modest daily gain of 0.84% and a 1.26% decline over the past week.

Do Kwon received a 15-year U.S. federal sentence for deceiving investors during TerraUSD's collapse. He pleaded guilty to two counts, while prosecutors sought at least 12 years and the defense asked for no more than five. He also agreed to an $80 million SEC civil penalty and a ban on crypto-related activities.

Ripple shifted 600M XRP across multiple wallets as the 21Shares XRP ETF (TOXR) began trading on Cboe BZX. On-chain data shows seven transfers of exactly 100M XRP completed within minutes, with four sending wallets tied to Ripple and three destinations unrecognized. XRP traded near $2.03 after a 15.7% decline over the past 30 days.

Terraform Labs founder Do Kwon was sentenced to 15 years in a New York federal court on December 12, 2025. The case involves fraud linked to TerraUSD and Luna, whose 2022 collapse erased about $40 billion in market value. He pleaded guilty in August to wire fraud and conspiracy, and prosecutors sought additional financial penalties.

Solana has revealed that XRP will be available on its blockchain via a new wrapped token called wXRP, issued by Hex Trust with LayerZero handling the bridge at a 1:1 redemption rate. The launch, presented at the fifth Solana Breakpoint event, aims to plug XRP into Solana's DeFi markets as analysts note the asset is trading around a major "flip area" near critical support and resistance levels.

At Solana Breakpoint in Abu Dhabi on December 12, co-founder Raj Gokal outlined a goal for Solana to reach a 25% share of on-chain transactions over the next decade. He cited ecosystem momentum, including 1,700 "Colosseum" hackathon teams. As of December 12, 2025, SOL trades at $139.15, according to CoinMarketCap.

On 12 December 2025, Bhutan announced TER, a sovereign digital token backed by the country's gold reserves and issued through Gelephu Mindfulness City. DK Bank will safeguard the physical gold while Matrixdock builds the tokenized asset on Solana, aligning with Bhutan's broader effort to expand its blockchain ecosystem and modernize national finance.

South Korean investigators report that Binance locked just 17% of Solana-based assets stolen in the November 27 Upbit hack after receiving an urgent freeze request from the exchange and police. Authorities say the attackers laundered funds through more than a thousand wallets and multiple chains before most of the assets reached Binance service wallets, while experts in Korea are now calling for faster, coordinated global freeze mechanisms and Upbit has raised its customer cold storage ratio to 99% following the roughly 44.5 billion won theft.