🤝Gaza 60-Day Ceasefire

☀️Good morning. It's Friday, May. 30,and we're covering, Gap Shares Slide As Tariffs Threaten $150M Blow, Perplexity Unveils Labs: A New AI Tool For Spreadsheets, Dashboards, And Web Apps, U.S. Proposes 60-Day Ceasefire In Gaza, Hostage And Prisoner Swap Included, and much more. First time reading? Sign up to get this newsletter: Sign up here.

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MARKETS

Cryptocurrency Prices by Market Cap

• The global cryptocurrency market cap today is $3.33 Trillion, a 2.90% decrease in the last 24 hours.

• The total crypto market volume over the last 24 hours is $140.68B, which makes a 9.88% increase.

• The total volume in Defi is currently $41.9B, 29.78% of the total crypto market 24-hours.

• The volume of all stablecoins is now $133.26B, which is 94.73% of the total market 24-hour volume.

• Bitcoin’s dominance is currently 63.02%, an increase of 0.38% over the day.

Solana Scores $1B Institutional Bet And First Public Liquid Staking Strategy

Sol Strategies filed to raise $1 billion to double down on its Solana exposure, a massive show of confidence in SOL as a long-term asset. Wall Street’s appetite for crypto is back — and this time, Solana is at the center of the action. From Ethereum challenger to institutional-grade infrastructure, Solana is quietly becoming a serious contender for the next wave of crypto capital. (Read Deeper)

BUSINESS & FINANCE

Gap Shares Slide As Tariffs Threaten $150M Blow

Gap beat Wall Street expectations in its latest quarter, but a warning about the rising cost of tariffs sent shares tumbling more than 15% in after-hours trading. The company said new duties could cost it $100M to $150M, even after mitigation, clouding CEO Richard Dickson’s turnaround efforts. Gap’s modest China exposure hasn't spared it from impact, especially with Vietnam now its top supplier — facing a potential 46% tariff.

Takeaways: New 30% duties on China + 10% on most other imports would cost $250M–$300M; Gap expects to mitigate half, leaving $100M–$150M at risk. Diversify supply chain, reduce China sourcing (<3% by year-end), buy more U.S. cotton. CEO says Gap doesn’t plan “meaningful” increases for consumers. (Read Deeper)

Grammarly Raises $1B From General Catalyst To Build AI Productivity Platform

Grammarly has secured $1 billion in non-dilutive financing from General Catalyst to expand its AI capabilities and accelerate growth toward becoming a full productivity platform. The capital will fuel product development, marketing, and acquisitions, with a focus on communication-based tools and integration of third-party services for its 40 million daily users. General Catalyst’s investment—made via its Customer Value Fund, isn't equity-based. Instead, it’s tied to Grammarly’s revenue growth from customer acquisition funded by the capital.

Why It Matters: This deal is a rare example of non-dilutive, performance-based financing at scale, offering a new growth model for late-stage tech companies. It also highlights the growing trend of AI platforms evolving into ecosystems, not just tools. (Read Deeper)

TECHNOLOGY & SCIENCE

Perplexity Unveils Labs: A New AI Tool For Spreadsheets, Dashboards, And Web Apps

Perplexity, the AI search startup challenging Google, has launched Perplexity Labs, a powerful new tool for Pro subscribers ($20/month) that generates spreadsheets, dashboards, interactive reports, and even mini-apps. Labs is designed to spend less time on tasks—10 minutes or more—and can use tools like live web search, code execution, and data visualization. Users can create complex outputs like documents, charts, and images, all downloadable from a dedicated dashboard.

Why It Matters: Perplexity’s enterprise ambitions are also expanding. The startup is reportedly in talks to raise up to $1B at an $18B valuation, as it seeks to lock in corporate adoption and satisfy investor momentum. Perplexity isn’t just trying to replace Google search—it’s aiming to become a one-stop AI productivity hub. With VCs pushing for returns and rivals moving fast, Labs is a major swing at the AI work assistant space. (Read Deeper)

Meta And Anduril Partner To Build VR/AR Tech For U.S. Army

Meta and defense-tech startup Anduril, founded by Oculus creator Palmer Luckey, have partnered to develop virtual and augmented reality systems for the U.S. Army. The collaboration marks a pivotal shift for Meta as it moves deeper into government and defense tech, with the duo already placing a joint bid on a $100M Army contract. The partnership reunites Meta and Luckey after a contentious 2017 split. Luckey, who sold Oculus to Facebook for $2B, later founded Anduril, which has become a major player in AI and battlefield technology.

Why It Matters: The new system, dubbed EagleEye, aims to enhance soldiers’ hearing and vision through advanced sensors. The companies claim their commercial-grade hardware could save the military billions of dollars. It highlights how Silicon Valley is reshaping its stance on military collaboration, and positions Meta as a new force in defense innovation. (Read Deeper)

AROUND DE WORLD & POLITICS

U.S. Proposes 60-Day Ceasefire In Gaza, Hostage And Prisoner Swap Included

A draft U.S. ceasefire plan for Gaza proposes a 60-day truce in exchange for a phased release of hostages and prisoners, according to a document seen by Reuters. The plan is backed by President Trump, Egypt, and Qatar, and reportedly accepted by Israel. Hamas is still reviewing it. The war was triggered by the October 7 Hamas attacks that killed ~1,200 Israelis and led to 251 hostages. Israel’s military response has since killed over 54,000 Palestinians, according to Gaza’s health ministry.

Why It Matters: This plan could mark the most concrete progress in months toward halting one of the deadliest conflicts in recent history—but only if both sides budge on deeply entrenched demands. (Read Deeper)

Trump Tariffs Stay For Now, As Appeals Court Issues Temporary Reprieve

A U.S. federal appeals court has temporarily reinstated former President Trump's broad tariffs, just one day after the U.S. Court of International Trade ruled many of them unlawful. The reversal allows key levies—including "reciprocal" tariffs and China-focused duties, to stay in effect while legal arguments are reviewed. Tariffs on steel, aluminum, and certain Chinese goods were never blocked and remain active.
The Trump administration must submit legal briefings by June 9, with further decisions pending.

Why It Matters: This is more than a legal fight, it's about whether a future Trump administration could reassert a hardline trade agenda. Businesses, investors, and global partners are watching closely as the rules of global trade remain in limbo. (Read Deeper)

ENTERTAINMENT & SPORTS

Chelsea Land Liam Delap In £30M Deal

Chelsea have won the race to sign England U21 striker Liam Delap from Ipswich Town in a £30 million deal, making him their first signing of the summer. Delap is set to reunite with new Chelsea manager Enzo Maresca, who coached him at Man City, and was swayed by the club’s Champions League qualification. (Read Deeper)

Shakira, Jason Aldean Boston Shows Canceled Over Safety Concerns

Just hours before showtime, Shakira's May 29 concert at Fenway Park ,and the following night’s Jason Aldean and Brooks & Dunn show — were abruptly canceled due to safety concerns. Live Nation confirmed that routine pre-show checks found structural elements “not up to standard,” prompting immediate cancellations. Ticket holders were told refunds would be processed at the original point of purchase. The last-minute move sparked outrage on social media, with many fans demanding compensation for travel and lodging expenses. (Read Deeper)

PODCAST(WHAT WE ARE LISTENING TO)

• How Trump's Golden Dome Missile Defense Will Work: President Donald Trump's proposed "Golden Dome" missile defense system is an ambitious initiative aimed at creating a comprehensive shield over the United States to intercept and neutralize missile threats from adversaries like China, Russia, North Korea, and Iran. (Listen)

EXTRA BREVITI

• AI platform Hugging Face is accelerating into robotics, unveiling two new open-source humanoid robots: HopeJR. (Read More)

• GameStop stock fell another 6% Thursday, extending a two-day slide to nearly 20% following news it had acquired 4,710 bitcoin, worth over $500M. (Read More)

• The SEC has officially dropped its lawsuit against Binance and founder Changpeng Zhao. (Read More)