Southeast Asia's simmering tensions just went hot. The Thailand-Cambodia border dispute—briefly cooled by a Trump-brokered ceasefire earlier this month—has exploded back into airstrikes and artillery exchanges. What started as a diplomatic win for the former president's mediation efforts collapsed within days, raising fresh questions about regional stability.

Both nations blame each other for violating the truce, with Bangkok claiming Phnom Penh moved troops into contested zones, while Cambodian officials accuse Thailand of provocative reconnaissance flights. The sudden escalation caught markets off guard, already jittery from U.S.-China trade friction and Middle East uncertainties.

For crypto watchers, this matters: geopolitical shocks historically drive flows into bitcoin and digital gold as hedges against fiat instability. If the conflict drags ASEAN economies into sustained uncertainty, expect increased interest in decentralized assets across the region. Worth monitoring how this unfolds.