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Reeves’s stealth tax raid to push millions of workers into paying higher rates as Treasury rakes in an extra £27.6bn

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Reeves's stealth tax raid to push millions of workers into paying higher rates as Treasury rakes in an extra £27.6bn

An additional 2.5 million workers will be pushed into paying the higher 40 per cent income tax rate in 2025/26, as frozen tax thresholds continue to impact millions of British taxpayers.

This means about one-fifth of all taxpayers will be paying either higher or extra taxes.


The freeze on tax thresholds was introduced in 2021 by then-Chancellor Rishi Sunak and was meant to last for four years.

The Conservative Government extended the freeze until 2028, and Labour’s Rachel Reeves kept this policy in place in her October Budget.

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Stealth taxes are on the rise

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The Office for Budget Responsibility (OBR) predicts that 3.5 million workers will start paying income tax in 2025/26 as their earnings go above the basic rate threshold of £12,570.

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Another 400,000 people will be pushed into the additional 45 per cent tax rate for earnings above £125,140.

The current higher rate threshold remains at £50,270, significantly below where it would have been if adjusted for inflation since 2021.

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If tax bands had risen with inflation since March 2021, the basic rate would be £15,540, and the higher rate would begin at £62,340.

Sarah Coles, of Hargreaves Lansdown, highlighted how higher-rate tax is no longer reserved for the wealthy elite.

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She said: “Gone are the days when being a higher-rate taxpayer was the preserve of the very wealthy – now around a fifth of taxpayers pay higher or additional rates.

“Between us, we’re paying billions more in tax than we did this time last year, and it’s only going to get worse, because those tax thresholds have been frozen until April 2028.”

The freeze has made generating tax-free income an increasingly attractive prospect for many workers, according to Coles.

The freeze policy is projected to generate an additional £27.6billion in tax revenue between 2021 and 2025.

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A Treasury spokesman responded to concerns, stating: “We are committed to keeping taxes low for working people, which is why we protected payslips from tax rises and are not extending the freeze on personal tax thresholds past 2027-28.”

The freeze will continue affecting taxpayers until 2028, when thresholds are set to begin rising again, as confirmed in the October budget.

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Crypto Price Analysis January-24: ETH, XRP, ADA, BNB, and SOL

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Crypto Price Analysis January-03: ETH, XRP, ADA, BNB, and SOL

This week, we examine Ethereum, Ripple, Cardano, Binance Coin, and Solana in greater detail.

Ethereum (ETH)

Ethereum managed to hold above $3,300 and closed this week with a 1% price increase. While this is not much, it does show that buyers are resilient at this key support level. The longer this happens, the more confidence the market will have in ETH moving higher.

The current price action is also turning positive if we look at the momentum indicators on the daily timeframe. The MACD made a bullish cross recently and the RSI is making higher lows. These are early signals that Ethereum could soon wake up to challenge the resistance levels at $3,600 and $4,000 again.

Looking ahead, Ethereum could surprise the market with a sharp move considering it did not do much in the past month while other altcoins like XRP and Solana made new price records. Eventually, profits will rotate and Ethereum is definitely one of the top candidates for market participants.

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ETHUSDT_2025-01-24_12-54-49
Chart by Tradingview

Ripple (XRP)

XRP is down almost 5% on the weekly chart after it failed to rally above $3.4. The price is currently around $3.2 at the time of this writing and buyers seem absent or uninterested. Therefore, the cryptocurrency has been consolidating above the $3 key support level.

As long as XRP stays above $3, there is a good shot at higher levels. But the longer buyers delay a clear breakout above $3.4 the more concerned holders will become. This is why it is critical for XRP to continue its rally.

Looking ahead, the coin seems at a critical junction here. A failure to move higher could soon be interpreted as bearish and see the price break under $3. On the other hand, breaking above $3.4 would quickly see XRP move towards $4 next.

XRPUSDT_2025-01-24_12-56-41
Chart by Tradingview

Cardano (ADA)

ADA is down 11% on the weekly chart after sellers pushed the price down from $1.1 to $1 which acts as a key support. So far, buyers managed to keep this cryptocurrency above this level, but momentum is not really on their side.

If we zoom out, ADA has been in a range since late November 2024 when it was rejected at $1.3 which also acts as an important resistance. The strongest support is found at 90 cents. As long as the price does not leave this range, the consolidation period continues.

Looking ahead, Cardano seems to be in an impasse which reminds us of XRP’s price action. A clean breakout is required to resume the bullish trend, but until it happens, any delay could test the patience of ADA holders.

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ADAUSDT_2025-01-24_12-55-07
Chart by Tradingview

Binance Coin (BNB)

Binance Coin closes the week with a 4% loss after it failed to stay above $700. But sellers don’t seem too interested in taking BNB lower at this time. Hence, the price has been hovering around the key support at $690.

This lack of momentum has turned the action quite flat. What is worrying, however, is that the daily MACD has turned bearish this week. This could lead to additional selling pressure later on.

Looking ahead, BNB could fall to $650 if sellers return or even to $600. These are the next key support levels should $690 break in the next few days. If so, that would likely indicate an overall market correction that could also see ADA and XRP make lower lows.

BNBUSDT_2025-01-24_12-55-57
Chart by Tradingview

Solana (SOL)

Solana continues to impress with a 22% rally in the past week and a new record price at $295. This is mainly due to the renewed attention to its chain after Trump launched its own meme token on Solana last Saturday. With liquidity fighting to reach Solana from all other competing chains, SOL saw a huge influx of liquidity and demand. This quickly pumped its price.

Since then, the price entered a shallow correction that saw the price briefly drop to $230 before returning to $260 as of today. As long as the meme mania on Solana continues, this will sustain and push SOL’s price higher.

Looking ahead, while the Trump meme FOMO subsided since last week, new meme tokens are being released daily that attract liquidity to Solana. This is bullish for SOL’s price and could see it make new price records in the future that could exceed $300.

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SOLUSDT_2025-01-24_12-55-36
Chart by Tradingview

The post Crypto Price Analysis January-24: ETH, XRP, ADA, BNB, and SOL appeared first on CryptoPotato.

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Official Tokens Made Millions for Some and $100 for Many

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Key indicator puts TRUMP bulls on notice. (hoekstrarogier/Pixabay)

Shaurya Malwa

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.

Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.

He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.

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Donald Trump’s Meme Coin Gets $11bn Market Cap, Drags Crypto Market — Check How Bitcoin, Ethereum, Solana Performed

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Shiba Inu (SHIB) Was Just Another Penny Crypto in 2020 Before It Made Millionaires in 2021 - Could Lightchain AI Be the Next Breakout Star?

The cryptocurrency market was thrown into the spotlight once again as Donald Trump’s meme coin skyrocketed to an $11 billion market cap.

This unexpected surge created ripples across the market, influencing investor sentiment and affecting the performance of key assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

While meme coins continue to create excitement, utility-driven projects like Lightchain AI are gaining traction for their sustainable, long-term potential in the blockchain space.

Rise of Donald Trump’s Meme Coin

Donald Trump’s meme coin, a cryptocurrency inspired by the former U.S. president, has gained notable attention in the crypto community. The coin has ridden the wave of political fandom and meme culture, leveraging Trump’s controversial and polarizing persona.

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Recent reports suggest a surge in trading activity following Trump’s return to mainstream platforms like X (formerly Twitter) and the 2024 presidential campaign announcement. While the coin is primarily driven by speculative interest, it reflects the growing trend of politically-themed cryptocurrencies capitalizing on cultural relevance.

Analysts, however, warn about its high volatility and lack of tangible utility, urging investors to exercise caution. Despite this, the meme coin’s presence highlights the fusion of politics and decentralized finance, further solidifying the cultural impact of blockchain-based assets in unconventional spaces.

Market Reaction – Bitcoin, Ethereum, and Solana

The rise of Trump’s meme coin created mixed effects on major cryptocurrencies like Bitcoin, Ethereum, and Solana. Bitcoin (BTC) experienced slight downward pressure as attention shifted toward the meme coin frenzy. However, its dominance in the market provided relative stability despite the speculative hype.

Ethereum (ETH), on the other hand, saw moderate fluctuations but continued to attract investors through its robust DeFi and NFT ecosystems. Its resilience to market trends reinforced its position as a foundational crypto asset.

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Solana (SOL) witnessed increased trading volume as investors explored options amidst the meme coin craze. Its focus on scalability and speed allowed it to maintain interest, even as the market faced turbulence driven by speculative activity.

Lightchain AI Long-Term Alternative

While speculative meme coins like Trump’s token grab headlines, utility-driven projects like Lightchain AI are quietly stealing the spotlight as smart, long-term investments. 

Lightchain AI is where artificial intelligence meets blockchain innovation, tackling real-world challenges with unmatched scalability and security. Its cutting-edge tech—like sharding and Layer 2 solutions—powers lightning-fast, high-throughput AI tasks effortlessly. 

But what really sets Lightchain AI apart? Privacy. With advanced features like Zero-Knowledge Proofs (ZKPs) and Homomorphic Encryption, it keeps sensitive data secure while enabling computations on encrypted data without compromise. 

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By blending innovation, trust, and practicality, Lightchain AI is proving it’s more than just a concept—it’s a game-changer in the blockchain space. Ready to invest in the future?

https://lightchain.ai

https://lightchain.ai/lightchain-whitepaper.pdf

https://x.com/LightchainAI

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Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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Trump-inspired memecoins gain traction on BNB Chain

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Binance’s BNB Chain releases an easy memecoin creation guide as Trump-inspired tokens spark investor interest and legal debates.

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Investing in new crypto gems could set traders for huge gains in 2025

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Explosive 100x gains expected: Cryptos to add to portfolios now

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

With $800 split across four standout cryptos, including Lightchain AI, traders could be on track for life-changing wealth by 2025.

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The cryptocurrency market is teeming with opportunities for investors seeking life-changing returns. Strategic investments in smart projects can unlock massive potential, especially for those who act early.

With $800 divided among four standout cryptos, including Lightchain AI, traders could position for generational wealth by the end of 2025. Here’s why these projects stand out and how they could deliver exponential returns.

Cardano and Solana: Innovation and scalability

Cardano (ADA) and Solana (SOL) are top blockchain sites that focus on being bigger and faster. Cardano has the Ouroboros Proof-of-Stake (PoS) way, which puts safety and power savings first. The new Plomin hard fork brought in Plutus V3, and some rules for how it runs, helping with size and spreading out control. As of January 20, 2025, ADA is selling at $0.990262 USD, with a peak of $1. 12 USD and a low of $0. 964891 USD.

Solana joins Proof-of-History (PoH) with PoS for high speed and low wait time, dealing with nearly 65,000 deals each second. The start of Solana v2. 0 helped the network stay strong and work better. Right now, SOL sells at $232. 45 USD, with a peak of $293. 79 USD and a low of $231. 70 USD.

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Lightchain AI: Transforming blockchain with AI integration

Lightchain AI is revolutionizing blockchain technology by integrating artificial intelligence to solve complex, real-world problems.

At its core is federated governance, a decentralized decision-making system that allows token holders to actively shape the platform’s development.

This ensures transparency, inclusivity, and community-driven innovation, setting Lightchain AI apart as a leader in blockchain advancement. Having already raised $12 million during its presale, the platform has attracted significant attention from investors and industry leaders.

Its roadmap focuses on expanding into key industries such as finance, healthcare, and logistics, showcasing its potential for long-term growth. With its smart approach and growing ecosystem, Lightchain AI is poised to make a lasting impact across multiple sectors.

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Ripple: Leader in cross-border payments

Ripple’s XRP is transforming cross-border payments with a fast, reliable, and cost-effective solution, enabling value to move globally as easily as information today.

Traditional international transactions often face high costs, delays, and lack of transparency. Ripple tackles these issues with its On-Demand Liquidity (ODL) feature, using XRP as a bridge currency for real-time settlements and eliminating the need for pre-funded accounts. This reduces costs and boosts efficiency in global financial transactions.

As of writing, XRP is trading at $3.08 USD, down 0.05521% from the previous close, with an intraday high of $3.26 USD and a low of $2.90 USD. Recent analyses, including a report by JPMorgan, highlight Ripple and XRP’s potential to unlock value in cross-border payments, reinforcing their growing role in the financial sector.

To learn more about Lightchain AI, visit the official website, whitepaper, X, and Telegram.

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Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Recent Dogecoin (DOGE) Developments, Bitcoin (BTC) Volatility, and More: Bits Recap Jan 24

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Recent Dogecoin (DOGE) Developments, Bitcoin (BTC) Volatility, and More: Bits Recap Jan 24

TL;DR

  • Dogecoin’s (DOGE) price remains volatile as anticipation builds around potential ETF approvals from firms like Bitwise and Osprey Funds.
  • Bitcoin (BTC) has been hovering between $101,000 and $109,500 in the past few days, with the volatility likely driven by the political changes in the USA.
  • The launch of TRUMP and MELANIA meme coins sparked massive hype, but recent drops and scam risks highlight the dangers involved with the niche.

DOGE on the Spotlight

The biggest meme coin drew the crypto community’s attention on January 21, when its price experienced a double-digit spike in a matter of minutes. The rally was fueled by the newly established Department of Government Efficiency (D.O.G.E.), which featured the asset’s logo on its official website.

Dogecoin’s valuation surged to $0.40, but the rally was short-lived. Currently, it is worth around $0.36 (per CoinGecko’s data), while D.O.G.E.’s website removed the logo from its front page.

DOGE Price
DOGE Price, Source: CoinGecko

It is important to note that further announcements coming from the agency may continue to impact the token. After all, D.O.G.E. is led by Elon Musk, who is an outspoken advocate of the OG meme coin and often endorses it on X.

Despite its enhanced volatility, Dogecoin has been the subject of numerous bullish predictions lately. One of the biggest optimists is the popular analyst Ali Martinez, who envisioned the price exploding to $15. He based his prediction on the potential approval of Bitwise’s filing to launch a Dogecoin exchange-traded fund (ETF). 

The company submitted its application with the SEC on January 22, while prior to that, REX Advisors and Osprey Funds jointly filed to introduce an ETF that includes exposure to DOGE. 

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BTC’s Rollercoaster 

The primary cryptocurrency also passed through severe turbulence in the past few days. It hit a new all-time high of almost $110,000 on January 20 (hours before Donald Trump’s inauguration) but fell to approximately $101,000 once the Republican officially became America’s 47th President. The plunge was likely caused by Trump’s speech, which did not include any comments about the crypto industry. 

In the following days, BTC continued to experience substantial volatility. On January 23, it spiked to $106,000 after US Senator Cynthia Lummis hinted that “big things are coming” for the asset. 

The crypto community speculated that the news could be related to the potential establishment of a strategic BTC reserve in the US. However, President Trump signed an executive order to review the creation of a “National Digital Asset Stockpile,” expanding the scope of the effort to other cryptocurrencies. 

In the aftermath, BTC’s price tumbled to $103,000 before rising to its current $105,300 (per CoinGecko’s data).

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BTC Price
BTC Price, Source: CoinGecko

TRUMP and MELANIA

Lastly, we will touch upon some of the most trending meme coins lately: those issued by the US President and his wife. Official Trump (TRUMP) saw the light of day on January 18, and hours later, its market capitalization reached a whopping $14.5 billion. The surge was fueled by massive hype and support from leading exchanges such as Binance and Coinbase. 

America’s first lady also dived in, launching a meme coin called Melania Meme (MELANIA). Its market capitalization also soared into the billions, although it did not reach TRUMP’s dimensions.

However, both tokens have plunged significantly in the last few days, showcasing the unpredictable and volatile nature of the meme coin niche. In addition, scammers have supposedly created multiple fake websites offering dubious services with TRUMP and MELANIA, with the sole purpose of conning unsuspecting victims.

People who are about to enter the ecosystem should first do proper research and invest only as much as they are ready to lose.

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Venture Capital Funding for Crypto to Rise This Year, Won’t Hit Prior Highs: JPMorgan

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JPMorgan (Shutterstock)

Crypto venture capital (VC) funding is expected to recover this year as regulatory clarity and more crypto-friendly policies emerge during the tenure of President Donald Trump, JPMorgan (JPM) said in a research report Wednesday.

The Wall Street bank noted that venture funding for the industry has been subdued in recent years. This may have been due to enforcement actions by the U.S. Securities and Exchange Commission (SEC) and the climate of regulatory uncertainty during the previous administration, analysts led by Nikolaos Panigirtzoglou wrote.

The start of the EU’s Markets in Crypto Assets (MiCA) regulations, which came into force at the end of December, is expected to “further bolster VC engagement,” the report said.

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Still, the level of funding is unlikely to match previous peaks seen in 2021/22, JPMorgan said, as crypto venture capital firms face a number of challenges.

Giants of traditional finance (TradFi) such as Blackrock (BLK) and Franklin Templeton are increasing their participation in the crypto market, and this leaves less market share for VC firms in stablecoins, tokenization and decentralized finance (DeFi), the bank said.

Nascent crypto projects are avoiding large token sales to VCs and are increasingly turning to community-driven platforms to raise money, the report noted.

High interest rates also present a challenge for VC funding, JPMorgan said.

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The growth of cryptocurrency exchange-traded fund (ETF) products is “inducing a trend towards passive investing,” and this could be diverting capital away from VC firms, the report added.

Read more: Crypto Venture Capital Market Remained Difficult in 2024, Galaxy Digital Says

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Flipster Launches Superstars Program Amid Rapid User Growth Globally

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Panama City, Panama, January 24th, 2025, Chainwire

In a move to foster deeper connections with crypto communities and empower individuals passionate about the digital economy, Flipster, a global crypto trading exchange with millions of users and nearly $120 billion in annual trading volumes, is launching the Flipster Superstars Program. This innovative Superstars program is designed to empower individuals passionate about crypto to lead the conversation, spotlight innovative ideas, and redefine how trading platforms engage with their users.

Flipster Superstars offers an opportunity for crypto digital enthusiasts to influence the industry from within. The program calls on creators, community influencers, and storytellers to team up with Flipster, leveraging their unique talents to drive awareness and adoption of the platform’s cutting-edge features while amplifying its presence in nearly 200 countries.

A Platform for Crypto Trailblazers

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Flipster Superstars focuses on three core roles to engage a diverse range of talents:

  • The Social Media Guru: Driving engagement on platforms like X (formerly Twitter) by creating content that resonates with crypto audiences and builds meaningful connections
  • The Influencer Maker: Strengthening Flipster’s presence within key crypto communities, including Telegram and Discord, by leveraging networks and fostering authentic conversations
  • The Storyteller: Crafting engaging content—whether visual or written—that highlights Flipster’s unique offerings and simplifies complex concepts for a global audience

Opportunities and How to Join 

Flipster Superstars offers performance-based rewards of up to 100,000 USDT, along with exclusive previews of campaigns and access to premium trading tools. Further details on the opportunities and how to become a Flipster Superstar can be found here.

A Collaborative Initiative for Crypto Digital Enthusiasts

Flipster Superstars is a voluntary initiative designed for individuals passionate about crypto and community engagement. Participants will have the chance to work closely with Flipster users and employees while gaining firsthand experience in the crypto space. 

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About Flipster

Flipster is a global cryptocurrency exchange serving millions of users globally. Catering to both novice and experienced traders, the platform offers over 300+ trading pairs across futures and spot markets, with zero trading fees and tools designed for seamless, efficient trading. Beyond trading, Flipster provides opportunities for users to participate in the broader crypto ecosystem, including yield-generation options with up to 22% APR on deposits with no lock-in periods and staking features like Launchpool.

Users can learn more at flipster.io or follow x.com/flipster_io for the latest updates.

ContactFlipsterpr@flipster.io

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Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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Silk Road founder Ross Ulbricht thanks Trump for full pardon

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Silk Road founder Ross Ulbricht, freed by Donald Trump’s pardon after more than 11 years in prison, called the US president “a man of his word.”

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‘Weather bomb’ brings 50% drop in prices as Storm Eowyn brings 100mph wind power boost

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‘Weather bomb’ brings 50% drop in prices as Storm Eowyn brings 100mph wind power boost

A powerful “weather bomb” will slash electricity prices by half, even as it brings dangerous winds of up to 100mph to parts of the country.

The Met Office has issued its highest-level red warning for Northern Ireland and southern Scotland, where the storm threatens widespread disruption and damage.


A powerful storm, named Storm Eowyn, is hitting Britain just as the country recovers from a period of very low renewable energy production, which had caused electricity prices to soar to seven times their usual levels before the pandemic.

Over 4.5 million people have received emergency alerts about the storm’s arrival.

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On Wednesday, wind power generation in Britain nearly stopped, forcing the country to rely heavily on gas-fired power plants, which provided over 70 per cent of electricity.

energy prices

Wind power is expected to rise from 0.4 gigawatts (GW) to 16GW by Friday morning

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The combination of cold, dark weather and still conditions drove electricity prices up to nearly £250 per megawatt-hour in market auctions. Gas plants were paid over £500 per megawatt-hour during the evening when household demand peaked.

This period of low renewable energy, called “dunkelflaute” in German, is the third time it has happened this winter.

However, since yesterday, Storm Eowyn has brought a major change, with wind power generation increasing by 40 times.

Electricity prices for Thursday and Friday have already dropped more than 50 per cent to £107 per megawatt-hour and £84 per megawatt-hour, respectively.

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Wind power is expected to rise from 0.4 gigawatts (GW) to 16GW by Friday morning.

This sudden change in energy availability has renewed calls for investment in “long-duration energy storage” solutions to help manage future fluctuations.

The UK’s energy system operator estimates that storage capacity needs to increase more than five times, reaching between 11GW and 15GW by 2030.

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If the UK can build 20GW of storage capacity, it could save £24billion by 2050 and lower household bills by reducing reliance on expensive natural gas. The storm has already caused significant damage, including a tornado in Cornwall that tore through roofs and fences.

Barnaby Wharton, director at RenewableUK, emphasised the economic benefits.

He said: “A modern energy system which maximises the use of wind and solar offers the best deal to consumers as they are our cheapest forms of new power and they protect us from spikes in international gas prices.”

Akshay Kaul, a director at energy regulator Ofgem, highlighted the current system’s limitations, added: “We’ve seen this winter that when you have a period of still, cold, cloudy weather [that] batteries on their own, and [power] interconnectors on their own, are not sufficient.”

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Kaul also claimed that Ofgem is establishing a new funding framework to attract private investment in long-duration energy storage by 2030.

Lawrence Slade, ENA’s chief executive, warns that Storm Éowyn is expected to be highly disruptive, with widespread weather warnings in place.

Electricity networks are ready with response plans, and customers are urged to prepare by visiting PowerCut105.com, call 105 for power cuts, check on those needing extra help, and share this information with others. If you encounter damaged power lines, stay clear and report it by calling 105 or 999 if there’s immediate danger.

The Met Office’s red warning indicates likely “substantial disruption to travel, energy supplies and possibly widespread damage to property and infrastructure”.

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Thousands of schools have been closed across affected regions. Drivers have been warned to stay off the roads during the dangerous conditions. The strongest wind gusts, reaching up to 100mph, are expected to hit Northern Ireland and southern Scotland on Friday

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