Crypto Morning Post: GENIUS bill was officially passed in the US Senate, and JD.com will apply for stablecoin licenses in major currencies around the world

- **GENIUS Stablecoin Bill Formally Passed in the US Senate**

   - According to Politico, the US Senate passed the GENIUS Act on Tuesday with 68 votes in favor and 30 votes against. This is the first comprehensive regulatory reform bill for cryptocurrencies in the United States. The bill, led by Senator Bill Hagerty, a Republican from Tennessee, will establish a regulatory framework for stablecoins pegged to the US dollar, marking an important breakthrough in the legislative field for the digital asset industry. Eighteen Democratic senators and most Republicans jointly supported the bill, which will now be submitted to the House of Representatives for further consideration.

- **US Retail Sales MoM in May: -0.9%, Expected -0.7%, Previous Value Revised from 0.10% to -0.1%**

   - According to Jinshi Data, the US retail sales MoM in May was -0.9%, compared with an expected -0.7%, and the previous value was revised from 0.10% to -0.1%. After the release of the US retail sales data, US short - term interest rate futures narrowed their earlier gains, and traders maintained the expectation of an interest rate cut in September.

- **Fed Mouthpiece: The Fed Would Be Ready to Cut Rates This Week If Not for Tariff - Induced Price Risks**

   - According to Jinshi Data, "Fed mouthpiece" Nick Timiraos said that there is good reason to believe that if it were not for the risks that tariffs pose to prices, the Fed would be ready to cut rates this week because of the recent improvement in inflation. In my opinion, the past five years have changed people's views on inflation and what might happen.

- **Infini Announces the Cessation of Infini Card Service and Refund of Card - Opening Fees**

   - Infini officially announced the cessation of its Infini Card service. The Global Card, Lite Card, and Tech Card will be fully suspended from use and new applications. The platform stated that core functions such as top - ups, withdrawals, and Earn income will not be affected, and user assets are safe and controllable. For users who have applied for cards, Infini will automatically refund the actual card - opening fees paid to the user's account balance within 10 working days. In - transit refunds will be completed within 5 - 21 working days, and refund applications that exceed 21 days and have been filed will continue to be followed up and processed. Users can obtain the latest progress through the customer service in the APP or the official Telegram community.

- **Liu Qiangdong: JD.com Will Apply for Stablecoin Licenses in Major Currency Countries Worldwide**

   - According to Sina Finance, Liu Qiangdong, the chairman of the board of directors of JD.com, stated at a sharing session today that JD.com hopes to apply for stablecoin licenses in all major currency countries worldwide. Then, through these licenses, it aims to achieve the exchange between global enterprises, reducing the global cross - border payment cost by 90% and increasing the efficiency to within 10 seconds. Liu Qiangdong said, "Currently, it takes an average of 2 to 4 days to transfer money between enterprises, and the cost is quite high. After completing the B - end payment, we will penetrate into the C - end payment. We hope that one day, people can use JD.com's stablecoin to pay when consuming around the world."

- **Eigen Labs Launches EigenCloud Platform and Receives $70 Million Investment from A16z**

   - According to Forbes, Eigen Labs announced the launch of the EigenCloud platform, which aims to provide blockchain - level trust guarantees for any Web2 or Web3 applications. Along with the release of this Alpha version, the crypto - investment division of A16z directly purchased $70 million worth of EIGEN tokens. EigenCloud is built on the EigenLayer restaking protocol and integrates functions such as data availability (EigenDA), general - purpose computing (EigenCompute), and dispute resolution (EigenVerify). The platform allows developers to cryptographically prove off - chain activities, providing the same trust guarantees as on - chain activities. Currently, there are more than $12 billion in restaked assets providing security for more than 200 autonomous verifiable services.

- **Layer 2 Network Ink Announces Plan to Launch Native Token INK with a Total Supply of 1 Billion**

   - Layer 2 network Ink posted on the X platform that it will launch the native token INK of its ecosystem. The total supply will be permanently limited to 1 billion, and there will be no more minting through governance in the future. The INK token is applicable to the user and application layers, and the airdrop of the INK token will be targeted at the early participants in the liquidity protocol.

- **Binance Alpha to List Matchain (MAT) on June 19th, Airdrop to Be Distributed in Two Phases**

   - According to the official announcement, Binance Alpha will list Matchain (MAT) on June 19th. Eligible users can go to the Alpha event page to claim the airdrop with Binance Alpha points starting from June 19th. This airdrop will be distributed in two phases. In the first phase, users with points reaching X can claim first, and everyone is eligible. In the second phase, the threshold will be lowered to Y (Y < X), and it will be on a first - come - first - served basis until the prize pool is claimed or the airdrop activity ends.

- **Dragonfly Managing Partner: The Fiscal - Company - Like Model of Introducing Tokens to the Stock Market May Last 1 - 2 Years**

   - Haseeb Qureshi, the managing partner of Dragonfly, posted that in each market cycle, founders will chase the flow of hot money. In the last cycle, issuing tokens was the hot topic because the crypto - capital market was extremely active. In this cycle, introducing tokens to the stock market (similar to the fiscal - company model) has become a new trend. He pointed out that hot money never stays in one place for a long time, which is why the fiscal - company model will not be the final model. However, he expects this trend to continue for 1 - 2 years until the heat subsides.

- **Coinbase Seeks SEC Approval to Offer Tokenized Stock Trading**

   - According to market sources, Coinbase is seeking approval from the US Securities and Exchange Commission to offer tokenized stock trading.

- **JPMorgan Chase to Launch US Dollar Deposit Token JPMD and Test with Coinbase**

   - According to Bloomberg, JPMorgan Chase announced that it will launch a token named JPMD, which represents the bank's US dollar deposits. According to Naveen Mallela, the global co - head of JPMorgan Chase's blockchain division Kinexys, the bank plans to conduct the first test transaction in the next few days, transferring a fixed amount of JPMD from JPMorgan Chase's digital wallet to Coinbase, the largest cryptocurrency exchange in the United States.

Disclaimer: The views expressed in this article only represent the personal views of the author and do not constitute investment advice from this platform. This platform does not make any guarantees regarding the accuracy, completeness, originality, and timeliness of the information in the article. Nor does it assume any liability for any losses arising from the use of or reliance on the information in the article.