Kraken's Ink Launches INK Token for Utility and Liquidity Coinbase Seeks SEC Approval for Tokenized Stocks a16z Crypto Invests $70 Million in EigenCloud Platform Thailand Exempts Crypto Gains from Tax Until 2029

Kraken-incubated Ethereum Layer 2 Ink is set to launch its INK token, marking a significant milestone for the network as it competes with Coinbase's tokenless Base network. The INK token will have a fixed supply of 1 billion and will not serve any governance role on the Ink network. Instead, it is designed as a utility token aimed at incentivizing use and liquidity rather than speculation or governance. The first use case for INK will involve an Aave-powered liquidity pool, which will anchor Ink's DeFi stack and reward early participants with airdrops. The token launch will be managed by a foundation subsidiary, with indications of multiple airdrops to come. Ink is part of the interoperable Optimism Superchain ecosystem, which includes Base, OP Mainnet, Soneium, Unichain, World Chain, and others.

Coinbase is seeking approval from the SEC to offer tokenized stocks in the U.S., aiming to compete with brokerage giants like Robinhood and Charles Schwab. The exchange is pursuing a no-action letter or exemptive relief to launch blockchain-based equities without triggering enforcement. Tokenized stocks could offer 24/7 trading, faster settlement, and lower costs, but they remain inaccessible to U.S. investors under current rules. This move comes just weeks after rival crypto exchange Kraken unveiled xStocks, featuring tokenized versions of more than 50 stocks and ETFs for users in Europe, Latin America, Africa, and Asia. Coinbase's Chief Legal Officer, Paul Grewal, did not confirm whether the exchange has officially submitted a request to the SEC nor set a timeline for the launch.

Venture capital firm a16z crypto has invested an additional $70 million in EIGEN tokens to support the rollout of EigenCloud, a new developer platform by EigenLayer. This investment follows a previous $100 million Series B round led by a16z crypto for Eigen Labs, the core developer of EigenLayer. EigenCloud aims to enable developers to build trustless web2-style applications using onchain verifiability across sectors such as AI, media, and healthcare. The platform combines data, compute, and dispute services into one programmable stack powered by the EIGEN token and using EigenLayer's crypto-economic security.

Thailand's government has approved a tax measure proposed by the Ministry of Finance to exempt certain crypto transactions from capital gains tax until the end of 2029. Crypto capital gains will be exempt from personal income tax if made through licensed exchanges, brokers, or dealers regulated by the country's Securities and Exchange Commission. This move is part of a broader effort to position Thailand as a global crypto hub, boost innovation, and attract foreign investment.

In summary, the news highlights several key developments in the crypto and blockchain space. Kraken-incubated Ethereum Layer 2 Ink is launching its INK token, focusing on utility and liquidity rather than governance. Coinbase is seeking SEC approval to offer tokenized stocks, aiming to compete with major brokerage firms. a16z crypto has invested $70 million in EIGEN tokens to support EigenCloud, a new developer platform. Thailand has approved a tax exemption for certain crypto transactions, positioning itself as a global crypto hub. These developments reflect the ongoing innovation and regulatory challenges in the digital asset ecosystem.