[Bitpush Daily News Selection] JPMorgan issues Galaxy short-term bonds on the Solana network; New York court sentences Terraform Labs founder Do Kwon to 15 years in prison; US Financial Stability Oversight Council (FSOC) annual report removes digital asset risk warning; OpenAI launches a more advanced model, GPT-5.2, to compete with Google

Bitpush editors’ daily selection of Web3 news:

[JPMorgan Issues Galaxy Short-Term Bonds on the Solana Network]

According to Bitpush and Bloomberg, JPMorgan arranged, created, distributed, and settled a short-term bond for Galaxy Digital Holdings LP on the Solana blockchain, as part of efforts to leverage cryptocurrency underlying technology to enhance financial market efficiency.

This $50 million U.S. commercial paper was purchased by Coinbase and asset management firm Franklin Templeton, with payment made in USDC stablecoin issued by Circle Internet Group Inc., according to a statement from the involved companies on Thursday. Redemption at maturity will also be paid in USDC.

[New York Court Sentences Terraform Labs Founder Do Kwon to 15 Years in Prison]

Bitpush reports, citing Inner City Press, that the U.S. District Court for the Southern District of New York delivered a verdict on December 11 in the fraud case against Terraform Labs founder Do Kwon, sentencing him to 15 years in prison. This sentence exceeds the 12-year term previously recommended by prosecutors.

According to court reports, presiding Judge Paul Engelmayer stated in court that Kwon “chose to lie” and “made the wrong choices.” In March 2023, Do Kwon was charged by U.S. prosecutors with conspiracy to commit fraud, commodities fraud, wire fraud, securities fraud, market manipulation, and conspiracy to launder money. In August 2024, he pleaded guilty to wire fraud and conspiracy to commit fraud.

This case stems from the 2022 collapse of the algorithmic stablecoin Terra USD and its associated governance token Luna, which wiped out approximately $40 billion in market value and triggered a series of cascading crises among crypto institutions. Prosecutors accused Kwon of making false statements to investors regarding the risks and stability of the tokens. In March 2024, Do Kwon was arrested in Montenegro for using forged travel documents and, after extradition disputes, was handed over to the U.S. in December of the same year. He may subsequently face lawsuits in other jurisdictions, including South Korea.

[U.S. Financial Stability Oversight Council “FSOC” Removes Digital Asset Risk Warning from Annual Report]

Bitpush reports that the U.S. Financial Stability Oversight Council (FSOC) has completely removed content listing digital assets as a “vulnerability” to the financial system in its latest annual report.

Treasury Secretary Scott Bessent stated that the new committee no longer focuses primarily on “identifying financial system risks,” but instead emphasizes the role of long-term economic growth in supporting financial stability.

FSOC was established after the 2008 subprime crisis to serve as an early warning system for potential future risks. Unlike the Biden administration, which emphasized stablecoin regulation and crypto risks, the Trump administration’s 2025 FSOC report is significantly shorter and no longer makes any regulatory recommendations regarding crypto assets.

The report notes that regulators have withdrawn previous broad warnings to regulated financial institutions about participating in the crypto sector and highlights the positive development of the digital asset industry. It also mentions that risks of misuse of U.S. dollar stablecoins still require attention. The report further points out that the continued growth of dollar-denominated stablecoins is expected to strengthen the dollar’s position in the global financial system over the next decade.

[OpenAI Launches More Advanced Model GPT-5.2 to Compete with Google]

Bitpush reports that OpenAI announced on Thursday the launch of its GPT-5.2 artificial intelligence model, claiming improvements in general intelligence, coding, and long-context understanding. Just weeks ago, Google (GOOG.O) released the widely popular Gemini 3, putting the startup on the defensive.

OpenAI stated that the new model is expected to deliver greater economic value to users, as it performs better in creating spreadsheets, building presentations, and handling complex multi-step projects. Reportedly, GPT-5.2’s Instant, Thought, and Professional versions will be rolled out in ChatGPT starting Thursday, with paid plan users getting early access. GPT-5.2 is priced at $1.75 per million input tokens and $14 per million output tokens, with a 90% discount for cached inputs. OpenAI also said there are currently no plans to deprecate GPT-5.1, GPT-5, or GPT-4.1 in the API.

[Disney to Make $1 Billion Equity Investment in OpenAI]

Bitpush reports that The Walt Disney Company has reached a milestone agreement with OpenAI, under which Disney will make a $1 billion equity investment in OpenAI.

[U.S. SEC Allows DTCC to Custody and Recognize Tokenized Stocks and Other RWA Assets on Blockchain]

Bitpush reports, citing Bloomberg, that the U.S. Securities and Exchange Commission (SEC) has granted permission to the Depository Trust & Clearing Corporation (DTCC) via a no-action letter, allowing the company to custody and recognize tokenized stocks and other real-world assets (RWA) on the blockchain. This move enables DTCC to provide tokenization services on pre-approved blockchains for a period of three years.

SEC Commissioner Hester Peirce stated in a release: “Although the project is still in the pilot phase and subject to various operational restrictions, it marks an important step for the market toward on-chain migration.” Michael Winnike, DTCC’s Global Head of Strategy and Market Solutions for Clearing and Securities Services, said in an interview that after obtaining the license, DTCC will also expand its record-keeping work to the blockchain.

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