Daily News: US-China Tariff Agreement Settled, Stripe to Acquire Privy, Binance Lists Resolv, GameStop to Issue $1.75 Billion Convertible Senior Notes, and More

Trump: Agreement with China Reached, Awaiting Approval

Former U.S. President Donald Trump announced on social media that an agreement with China has been reached and is now awaiting approval. As part of the deal, China will supply rare earth materials, and the U.S. will offer terms including student admissions. The agreement also includes a tariff structure of 55% for U.S. goods and 10% for Chinese goods.

Trump Launches Website for $5 Million U.S. Permanent Residency “Gold Card”

Trump announced on Truth Social that the official website for purchasing U.S. permanent residency—dubbed the “Gold Card”—for $5 million is now live.

Elon Musk Regrets Posting Harsh Comments About Trump

Elon Musk posted on X that he regrets his comments about Trump last week, stating, “They went too far.”

Stripe to Acquire Crypto Wallet Infrastructure Provider Privy

U.S. payments giant Stripe announced its acquisition of crypto wallet infrastructure provider Privy. The financial terms were not disclosed. This follows Stripe’s earlier acquisition of stablecoin infrastructure firm Bridge. Privy's embeddable wallet services have already been integrated by platforms like OpenSea to streamline the NFT purchasing process. Stripe’s CEO said the integration of Privy and Bridge is expected to accelerate the development of crypto-native global financial services. The deal is expected to close within weeks.

Sonic Labs to Launch Second-Season Airdrop on June 18

Sonic Labs announced it will begin the second season of its S token airdrop on June 18. The second-season airdrop will allocate rewards based on on-chain activity. Users can earn points by engaging in DeFi activities, while developers will be ranked based on new indicators, including revenue.

Michael Saylor: STRD Launches on Nasdaq, Offers BTC-Backed Fixed Income

Michael Saylor posted on X that Strategy's BTC-backed preferred stock, STRD, begins trading on Nasdaq today. This marks the third such offering from the firm, aimed at providing fixed-income investment instruments backed by Bitcoin. The introduction of this new financial product has generated excitement among investors, particularly institutional ones, who have been waiting for a combination of fixed income and Bitcoin security. Despite some controversies, Saylor continues to demonstrate that Bitcoin and traditional financial systems can coexist effectively.

Binance Lists Resolv (RESOLV) via HODLer Airdrop Program

On June 11, Binance launched the 21st project on its HODLer Airdrops page, introducing Resolv (RESOLV), a stablecoin backed by Ether (ETH) and Bitcoin (BTC), pegged to the US Dollar. RESOLV total supply is 1 billion, with an initial circulating supply of approximately 155.75 million (15.58%). Binance will allocate 20 million RESOLV (2% of total supply) for the HODLer airdrop campaign and another 5 million RESOLV for post-launch marketing efforts.

To be eligible for the airdrop, users must have subscribed BNB to Simple Earn (Flexible/Locked) and/or On-Chain Yields products between 2025-05-28 00:00 UTC and 2025-05-31 23:59 UTC. Eligible users will receive RESOLV tokens at least one hour before the trading launch.

RESOLV will be tradable against USDT, USDC, BNB, FDUSD, and TRY. RESOLV trading on Binance Alpha Market will cease once spot trading goes live.

GameStop Plans to Issue $1.75 Billion Convertible Senior Notes

GameStop announced its intention to privately issue $1.75 billion in convertible senior notes to qualified institutional investors, with a maturity date set for 2032. The company will also grant initial purchasers the option to buy an additional $250 million in notes within 13 days of the initial offering.

These notes will be unsecured, non-interest-bearing, and will not accumulate principal. Holders of the notes can choose to convert them into cash, GameStop Class A common stock, or a combination of both. The funds raised will be utilized for general corporate purposes, which may include investments aligned with the company's investment policy and potential acquisitions.

PayPal Expands PYUSD Stablecoin to Stellar for Cross-Border Payments

On June 11, PayPal announced the expansion of its USD-pegged stablecoin, PYUSD, to the Stellar blockchain, as reported by CoinDesk. This move aims to enhance cross-border remittances and payment financing (PayFi) applications. Previously, PYUSD was operational on Ethereum and Solana.

The integration with the Stellar network is expected to provide small and medium-sized enterprises with real-time working capital for supplier payments, inventory management, and other operational needs. The collaboration has received approval from the New York Department of Financial Services (NYDFS) and is set to launch pending final integration reviews.

Sky Co-Founder Rune Buys Back $2.727M in SKY Tokens

According to on-chain analyst Ember (@EmberCN), Sky co-founder Rune repurchased $2.727 million worth of SKY tokens last night. Since June 4, Rune has spent a total of $5.057 million USDS to buy back 60.954 million SKY tokens, at an average price of $0.083. All repurchased tokens have been staked into his staking address.

Crypto Exchange Bullish Files Confidential IPO Application

Crypto exchange Bullish, backed by former PayPal CEO Peter Thiel, has filed a confidential IPO application with the U.S. Securities and Exchange Commission (SEC), with Jefferies acting as lead underwriter.

Bullish was launched by Block.one, the company behind EOS, and acquired crypto media outlet CoinDesk in 2023. The company previously attempted to go public in 2021 via a SPAC deal, which was canceled the following year due to rising U.S. interest rates and falling stock markets.

HK Asia Holdings Officially Renamed to Moon Inc.

According to the official disclosure of Hong Kong Stock Exchange, HK Asia Holdings Limited has changed its name to “Moon Inc.” The new name was certified by the Cayman Islands Registrar on May 15 and confirmed by the Hong Kong Companies Registry on June 2.

Starting from June 12 at 01:00 UTC, the company’s stock short name on HKEX will change from "HK ASIA HLDGS" to "MOON INC". The stock code will remain unchanged at “1723.”

The company stated the name change will not affect shareholders’ rights or its operational and financial status. Existing shares remain valid and do not require replacement.

X Bans Crypto Influencers Over PPMT Memecoin

Sources close to X team suggest that recent bans of crypto influencers may be linked to a memecoin called PPMT promoted on GMGN. X reportedly believes GMGN and affiliated influencers were behind PPMT and may have violated platform rules on misleading content.

X's policies state that accounts may be suspended permanently or temporarily if reported for abuse, including spreading misleading content or security risks. GMGN insiders said the platform is operating normally and is communicating with X to resolve the issue. Previously, X was reported to have suspended several accounts at Elon Musk’s discretion, including critics and competitors.