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The week brought a whirlwind of crypto news, with some coins soaring, others selling, and a few even burning. Dogecoins value spiked, Donald Trump made significant moves in the Ethereum and MAGA Coin markets, a Colorado pastor admitted to fraud charges, and Shiba Inus burn rate skyrocketed. Heres a quick look at what transpired.

Dogecoin Value Surges on Musks X App Buzz

Over the weekend, Dogecoin DOGE/USD value soared by more than 10% following the establishment of a dedicated account for the planned payment feature on Elon Musks everything app X. Pseudonymous cryptocurrency analyst Johnny predicts a rally, with DOGE potentially hitting $0.10. The buzz around the X Payments account has fueled speculation that X/Twitter may soon adopt DOGE as its universal payment method. Read the full article here.

Trump Dumps Ethereum

Former President Donald Trump is reported to have sold more than 1,000 Ethereum ETH/USD , raking in over $2.4 million. The Ethereum mainly came from royalties for Trumps non-fungible token (NFT) projects. Despite the sale, the NFTs remain in high demand, with the cheapest one listed for over $600, a significant increase from the original $99 price. Read the full article here.

See Also: Kim Jong Un Issues Stark Warning Amid North Koreas Worsening Food Crisis: We Should Not Sit By And Wait

Pastor Admits Fraud Over Crypto Scam

Eli Regalado, a Colorado-based online pastor and founder of INDXcoin, has admitted to fraud charges. Facing accusations from the Colorado Securities Commission, Regalado confessed in a video that he and his partner Kaitlin Regalado misappropriated $1.3 million. Read the full article here.Loading… Loading…

Trump Scores Big with MAGA Coin

In addition to his Ethereum trading, Trump reportedly reaped a 15,000% return from the MAGA (TRUMP) coin. According to crypto intelligence firm Arkham Intelligence, Trumps initial stake of $7,100 in the meme coin has surged to an estimated value of over $1.07 million. Read the full article here.

Shiba Inus Burn Rate Soars

The Dogecoin killer, Shiba Inu SHIB/USD , has seen a surge in its token burn activity, with an increase exceeding 4,200% within a 24-hour window. This drastic reduction of 15.72 million SHIB tokens from the actively traded supply is attributed to three anonymous entities sending 13 million SHIB tokens to an unrecoverable address. Read the full article here.

Read Next: Houthi Rebels Fire Missile At US Warship Amid Red Sea Conflict: Theyre Now Finally Calling A Spade A Spade
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Collapsed crypto firm Ziglu faces $2.7M deficit amid special administration

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Collapsed crypto firm Ziglu faces .7M deficit amid special administration

Collapsed crypto firm Ziglu faces .7M deficit amid special administration

Thousands of savers face potential losses after a $2.7 million shortfall was discovered at Ziglu, a British crypto fintech that entered special administration.

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Politics

Heidi Alexander says ‘fairness’ will be government’s ‘guiding principle’ when it comes to taxes at next budget

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Heidi Alexander says 'fairness' will be government's 'guiding principle' when it comes to taxes at next budget

Another hint that tax rises are coming in this autumn’s budget has been given by a senior minister.

Speaking to Sunday Morning with Trevor Phillips, Transport Secretary Heidi Alexander was asked if Sir Keir Starmer and the rest of the cabinet had discussed hiking taxes in the wake of the government’s failed welfare reforms, which were shot down by their own MPs.

Trevor Phillips asked specifically if tax rises were discussed among the cabinet last week – including on an away day on Friday.

Politics Hub: Catch up on the latest

Tax increases were not discussed “directly”, Ms Alexander said, but ministers were “cognisant” of the challenges facing them.

Asked what this means, Ms Alexander added: “I think your viewers would be surprised if we didn’t recognise that at the budget, the chancellor will need to look at the OBR forecast that is given to her and will make decisions in line with the fiscal rules that she has set out.

“We made a commitment in our manifesto not to be putting up taxes on people on modest incomes, working people. We have stuck to that.”

Ms Alexander said she wouldn’t comment directly on taxes and the budget at this point, adding: “So, the chancellor will set her budget. I’m not going to sit in a TV studio today and speculate on what the contents of that budget might be.

“When it comes to taxation, fairness is going to be our guiding principle.”

Read more:
Reeves won’t rule out tax rises

What is a wealth tax and how would it work?

👉Listen to Politics at Sam and Anne’s on your podcast app👈      

Afterwards, shadow home secretary Chris Philp told Phillips: “That sounds to me like a barely disguised reference to tax rises coming in the autumn.”

He then went on to repeat the Conservative attack lines that Labour are “crashing the economy”.

Please use Chrome browser for a more accessible video player

Chris Philp also criticsed the government’s migration deal with France

Mr Philp then attacked the prime minister as “weak” for being unable to get his welfare reforms through the Commons.

Discussions about potential tax rises have come to the fore after the government had to gut its welfare reforms.

Sir Keir had wanted to change Personal Independence Payments (PIP), but a large Labour rebellion forced him to axe the changes.

With the savings from these proposed changes – around £5bn – already worked into the government’s sums, they will now need to find the money somewhere else.

The general belief is that this will take the form of tax rises, rather than spending cuts, with more money needed for military spending commitments, as well as other areas of priority for the government, such as the NHS.

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Heidi Alexander says ‘fairness’ will be government’s ‘guiding principle’ when it comes to taxes at next budget

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Heidi Alexander says 'fairness' will be government's 'guiding principle' when it comes to taxes at next budget

Another hint that tax rises are coming in this autumn’s budget has been given by a senior minister.

Speaking to Sunday Morning with Trevor Phillips, Transport Secretary Heidi Alexander was asked if Sir Keir Starmer and the rest of the cabinet had discussed hiking taxes in the wake of the government’s failed welfare reforms, which were shot down by their own MPs.

Trevor Phillips asked specifically if tax rises were discussed among the cabinet last week – including on an away day on Friday.

Politics Hub: Catch up on the latest

Tax increases were not discussed “directly”, Ms Alexander said, but ministers were “cognisant” of the challenges facing them.

Asked what this means, Ms Alexander added: “I think your viewers would be surprised if we didn’t recognise that at the budget, the chancellor will need to look at the OBR forecast that is given to her and will make decisions in line with the fiscal rules that she has set out.

“We made a commitment in our manifesto not to be putting up taxes on people on modest incomes, working people. We have stuck to that.”

Ms Alexander said she wouldn’t comment directly on taxes and the budget at this point, adding: “So, the chancellor will set her budget. I’m not going to sit in a TV studio today and speculate on what the contents of that budget might be.

“When it comes to taxation, fairness is going to be our guiding principle.”

Read more:
Reeves won’t rule out tax rises

What is a wealth tax and how would it work?

👉Listen to Politics at Sam and Anne’s on your podcast app👈      

Afterwards, shadow home secretary Chris Philp told Phillips: “That sounds to me like a barely disguised reference to tax rises coming in the autumn.”

He then went on to repeat the Conservative attack lines that Labour are “crashing the economy”.

Please use Chrome browser for a more accessible video player

Chris Philp also criticsed the government’s migration deal with France

Mr Philp then attacked the prime minister as “weak” for being unable to get his welfare reforms through the Commons.

Discussions about potential tax rises have come to the fore after the government had to gut its welfare reforms.

Sir Keir had wanted to change Personal Independence Payments (PIP), but a large Labour rebellion forced him to axe the changes.

With the savings from these proposed changes – around £5bn – already worked into the government’s sums, they will now need to find the money somewhere else.

The general belief is that this will take the form of tax rises, rather than spending cuts, with more money needed for military spending commitments, as well as other areas of priority for the government, such as the NHS.

Continue Reading

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