Crypto Morning News: Stacks announces sBTC launch next week, Coinbase adds PNUT to listing roadmap

Author: TechFlow

Yesterday's Market Developments

Binance Labs announces investment in Perena, a Solana-based stablecoin infrastructure protocol

Binance Labs has announced an investment in Quine Co., the core development team behind Perena, to support its mission of building the first stablecoin infrastructure protocol on Solana. Perena aims to build a more decentralized, efficient, and accessible financial system by combining DeFi innovation with traditional finance principles.

Perena addresses fragmentation in the stablecoin ecosystem through its product Numéraire—a multi-token extensible Stableswap that does not require CLMM management—while lowering capital requirements for launching new stablecoins. Users can mint stablecoins via the protocol, earn returns from tokenized real-world assets, and use a tiered collateralized debt position system to customize risk-return profiles.

The Binance Labs investment will help the Perena team scale operations, grow its global community, and develop a comprehensive suite of stablecoin products on Solana.

Apple launches Siri integrated with ChatGPT

On Wednesday, Apple released software updates for iPhone, iPad, and Mac, including a new version of Siri powered by ChatGPT. This marks a major win for OpenAI as it brings one of its flagship products directly to millions of iPhone users.

Stacks announces sBTC launch next week

Bitcoin scaling solution Stacks announced on X that it will launch sBTC next week. Users will be able to deposit BTC into sBTC and earn BTC rewards through the sBTC Rewards Program.

IntoTheBlock: Over 1.3 million addresses accumulating Bitcoin between $94,800 and $97,700

IntoTheBlock posted on X that 482,000 addresses have purchased Bitcoin between the current price and $100,000.

However, the real demand zone lies between $94,800 and $97,700, where over 1.3 million addresses are accumulating Bitcoin. This range represents a critical area of potential support.

Cardano founder: Focus on Bitcoin DeFi ecosystem in 2025, demo planned for May

Cardano founder Charles Hoskinson announced that Input Output Global (IOG) will focus on developing the Bitcoin DeFi ecosystem in 2025. The team plans to collaborate with multiparty computation protocol developer Fair Gate Labs, aiming to release a demonstration version before the Bitcoin Conference in May 2025.

In response to community questions, Hoskinson revealed that the technology developed by Fair Gate Labs will form the foundation of BitcoinOS without requiring any additional tokens. Cross-chain transactions will only require Bitcoin. The project will also work with community initiatives and wallet providers to achieve the goal of "awakening the sleeping giant."

MicroStrategy set to officially join Nasdaq 100 Index on December 23

According to Crypto Briefing, MicroStrategy is expected to officially join the Nasdaq 100 Index on December 23, with an official announcement likely on December 13. Bloomberg ETF analyst James Seyffart estimates that ETFs tracking the Nasdaq 100 will purchase approximately $2.1 billion worth of MicroStrategy stock—about 20% of the company’s daily trading volume. The company is projected to become the 40th largest constituent in the index, with a weight of 0.47%.

Bridgewater founder advises investors to avoid bonds and other debt assets, shift toward 'hard currencies' like gold and Bitcoin

According to the South China Morning Post, Ray Dalio, founder of Bridgewater—the world’s largest hedge fund—said at the Abu Dhabi Finance Week that investors should move away from debt assets such as bonds and instead shift toward “hard currencies” like gold and Bitcoin. Dalio noted that major economies (except Germany) have reached “unprecedented” levels of debt, making a debt crisis inevitable in the coming years, which would lead to significant currency devaluation. He emphasized that debt, money, and the economy are among the five key forces shaping the future, alongside domestic political order and geopolitical dynamics.

OCBC Bank to close overseas customer accounts; residency confirmation required by December 15

According to an official announcement, OCBC Bank’s Global Personal Banking Services has emailed customers stating that to retain their accounts, they must confirm they still reside in Singapore by December 15, 2024.

If OCBC does not receive a response by December 15, 2024, certain restrictions will be imposed on the account (e.g., withdrawals allowed but no deposits), followed by account closure. Once closed, all associated financial arrangements will be terminated.

Coinbase adds PNUT to its listing roadmap

According to an official announcement, Coinbase has added PNUT to its listing roadmap.

Market Data

Suggested Reading

The Evolution of Lending Markets: How Morpho Achieved Its Second Leap

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PNET’s Rapid Rise: Could Hiring an AI Agent as a Personal Tutor Be a Winning Angle?

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AI Agent Sector Consolidation: Liquidity Will Shift from Small Projects to a Few Winners

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Decoding the Altseason: 6 Position-Building Strategies to Ride the Altcoin Wave

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Interview with Zerebro Founder: The Birth of an AI Musician and a Stock Market for Creativity

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