GM. United States prosecutors are seeking a 12-year sentence for Terra founder Do Kwon, calling the $40 billion collapse one of crypto’s most damaging failures.

Poland breaks from the EU on MiCA, MetaMask integrates Polymarket trading, and Coinbase’s Base connects to Solana via Chainlink’s bridge.

Here are the top crypto stories from the weekend. 👇

US Prosecutors Seek 12-Year Prison Term for Do Kwon

US prosecutors have asked a New York judge to sentence Terraform Labs founder Do Kwon to 12 years in prison for orchestrating the $40 billion Terra collapse. The Department of Justice described the 2022 implosion as “colossal in scope,” saying Kwon’s deception triggered cascading failures across the crypto industry, including the downfall of FTX.

Prosecutors compared Kwon’s conduct to Sam Bankman-Fried’s, arguing that his plea deal’s 12-year ceiling was appropriate to prevent sentencing disparities. Kwon’s lawyers requested a five-year term, but the DOJ called that “implausible” given $40 billion in investor losses and his attempts to evade arrest with forged passports.

As part of his August plea, Kwon agreed to forfeit $19.3 million in assets while avoiding restitution due to the case’s complexity. The 34-year-old was extradited from Montenegro in January after a yearlong legal battle and now awaits sentencing on December 11 before Judge Paul Engelmayer.

The announcement briefly jolted markets, with Terra’s Luna and Luna Classic surging as much as 130% before stabilizing. The sentencing unfolds under a Trump administration that has eased crypto enforcement, underscored by October’s presidential pardon of Binance founder Changpeng Zhao.

Poland Becomes EU’s Lone MiCA Opposition Country

Polish lawmakers failed to overturn President Karol Nawrocki’s veto on a sweeping crypto bill, leaving Poland without MiCA alignment. The Sejm fell 18 votes short of the required majority, forcing Prime Minister Donald Tusk’s coalition to restart the process. Nawrocki argued the proposal was overly complex and could push domestic firms abroad, sparking political tension with pro-EU factions.

Industry leaders were divided, with some calling the measure a step forward and others warning of overreach. Zondacrypto’s CEO criticized the bill for potentially criminalizing blockchain development while limiting local innovation. The deadlock leaves Poland as the EU’s only holdout, as Germany, Malta, and Lithuania advance MiCA licensing regimes.

MetaMask Wallet Adds Polymarket Prediction Trading

MetaMask has integrated Polymarket, allowing users to trade on real-world event outcomes directly from their wallets. Consensys said users can fund accounts with any token across EVM chains and earn MetaMask Rewards points. The move adds decentralized prediction markets access to MetaMask’s 30-million-strong user base as on-chain betting gains traction.

Polymarket, founded in 2020, recently received $2 billion in funding from Intercontinental Exchange at a $9 billion valuation. Its projected valuation now reaches $15 billion amid rising adoption driven by the US election cycle and relaxed regulations. MetaMask, meanwhile, recently launched multichain accounts and is preparing to introduce its MASK token ahead of a planned IPO.

Coinbase’s L2 Base Launges a Bridge to Solana

Base, Coinbase’s Ethereum Layer-2, has launched a cross-chain bridge to Solana using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). The integration lets developers support Solana assets in Base apps and enables users to trade SPL tokens natively. Coinbase said the bridge advances its goal to make asset transfers instant and cross-network value.

Base, built on the Optimism tech stack, is currently the most profitable Layer 2 by transaction volume and developer activity. The bridge adds Solana compatibility for exporting Base assets and improves liquidity between ecosystems. Both Coinbase and Chainlink nodes independently verify messages to ensure secure token transfers across Base and Solana environments.

Data of the day

Bitcoin Cash has surged nearly 40% in 2025, outperforming major Layer-1 networks such as Ethereum, Solana, and Avalanche. Analyst Crypto Koryo credited BCH’s strength to zero token unlocks, no VC overhang, and entirely circulating supply. The asset’s performance contrasts steep declines across most competitors, with several Layer-1s still down over 50% this year.

Koryo said the rally was supported by new demand catalysts and improved network fundamentals despite lacking an official X account. He emphasized that BCH’s absence of centralized treasury funding removes persistent selling pressure. Analysts noted the token’s steady growth positions it as 2025’s top Layer-1 performer amid broader market volatility.

More breaking news

• After faking his own death, Zerebro creator Jeffy Yu resurfaced with an AI-written manifesto and Solana meme coin that quickly surged.

• Jupiter’s COO admitted prior claims of “zero contagion” were inaccurate, following criticism over rehypothecated collateral in the protocol’s lending vault design.

• The IMF warned that widespread stablecoin adoption could undermine central bank control, reducing monetary sovereignty in countries with weaker financial systems.

• WisdomTree launched Europe’s first Ethereum staking fund using Lido’s stETH, marking a milestone in DeFi integration with regulated asset management.

• South Korea plans to impose bank-level liability rules on crypto exchanges after the Upbit hack, demanding tougher security and stricter compensation standards.

• ZachXBT claimed a British hacker behind the $243 million Genesis creditor theft was likely arrested in Dubai following asset seizures.

• Italy’s securities regulator CONSOB set a December 30 MiCA compliance deadline, requiring unlicensed crypto platforms to seek authorization or exit the market.

• 21Shares debuted the first Sui leveraged ETF on Nasdaq, extending its crypto lineup as global exchange-traded product launches hit record numbers.

• Polymarket is forming an internal market-making team to trade against users, mirroring Kalshi’s controversial structure already facing legal and ethical scrutiny.

• Lighter DEX launched spot trading after its explosive growth in decentralized perps, expanding into equities and forex to rival dominant onchain competitors.

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