China's E-Commerce Giant JD Eyes Global Stablecoin Services Launch

Thailand has approved a five-year exemption on capital gains taxes for crypto sales through licensed digital asset service providers from 2025 to 2029. This move aims to position the country as a global financial hub for digital assets, attracting businesses and investors.

Gemini has filed a complaint against the CFTC, accusing its enforcement division of prioritizing career advancement over consumer protection. The company alleges the investigation was based on false statements from a disgruntled former employee seeking revenge.

The U.S. Senate passed the GENIUS Act, establishing a framework for stablecoins, which are pegged to the U.S. dollar. This legislation could bring trillions of dollars into the crypto market, with major players like banks and tech giants expressing interest.

Coinbase aims to introduce trading for tokenized equities pending SEC approval, as stated by the firm's chief legal officer. The move could lead to lower transaction costs and 24/7 trading for assets like tech stocks on blockchain networks.

Fold has announced an agreement to issue and sell $250 million in new shares to purchase more Bitcoin. The company will sell shares to selected investors and institutions, with no set timeline for the sale. Currently, Fold's stock is trading at $4.57, down nearly 3%.

The Ink Foundation, purportedly an independent entity distinct from Kraken, will introduce the INK token for Kraken's Ethereum layer-2 network, Ink. INK, with a fixed supply of 1 billion tokens, will support DeFi on the Ink blockchain, starting with a liquidity protocol powered by Aave.

Bitcoin and Ethereum experienced drops of nearly 4% and 6.5%, respectively, in the past 24 hours following President Donald Trump's social media post hinting at potential conflict in the Middle East. Other cryptocurrencies like Solana, Cardano, and Dogecoin also saw declines.

Emma Lovett, an executive director at JPMorgan Chase, expressed concerns about the stablecoin market becoming overcrowded at the DigiAssets 2025 conference. The GENIUS Act, a bill for regulating stablecoins and digital assets, has been a driving force behind the market hype.

Meme coin investors are facing significant losses as Pepe, SPX6900, and Fartcoin drop by double digits. Technical indicators and on-chain data suggest further declines, with key support levels to watch. The broader market turmoil and geopolitical tensions are contributing to the sector's correction.