Author: Gabby

Nigel Farage, the leader of Reform UK, has dismissed demands to publicly disclose a £5 million personal gift from cryptocurrency investor Christopher Harborne. Farage insists that the payment was not subject to parliamentary reporting rules because it was classified as a personal, non-political donation. Legal advice obtained by his team reportedly confirmed there was no obligation to declare the funds. Farage linked the gift to ongoing security concerns following past threats, including a firebomb attack on his residence. He stated the money would be used to ensure his long-term safety.

The Conservative Party has brought the matter to the attention of Parliamentary Standards Commissioner Daniel Greenberg, asking him to investigate whether any portion of the £5 million was used to indirectly support political activities. Farage, however, maintains there is no need for a self-referral to the watchdog, as he believes there is no case to answer. Labour chair Anna Turley accused Farage of potentially breaching rules again, while Reform UK argued that the payment was exempt from disclosure rules because it was received in June 2024, before Farage decided to stand as the party’s parliamentary candidate for Clacton.

The controversy follows reports that the payment went undeclared under UK campaign finance rules despite its significant size. Harborne, a resident of Thailand with a 12% stake in stablecoin issuer Tether, has become one of Reform UK’s largest financial backers. He has separately donated around £12 million to the party, including a £9 million contribution last year—reportedly the largest political donation by a living individual in British history.

In comments to the Telegraph, Harborne claimed his donations influenced the government’s decision to introduce restrictions on overseas political contributions. He stated he did not believe the government had the right to stop him and hinted he might return to the UK to avoid future restrictions. Harborne emphasized that the £5 million payment to Farage was unconditional and irrevocable, expecting nothing in return beyond aiding his safety.

The dispute has intensified scrutiny of Reform UK’s ties to cryptocurrency investors and digital asset firms. In April, the Liberal Democrats asked the Financial Conduct Authority to investigate Farage’s financial links to crypto firm Stack BTC after he appeared in promotional materials for the company’s Bitcoin treasury strategy. Liberal Democrat deputy leader Daisy Cooper raised concerns about potential market abuse and conflicts of interest. Public filings revealed that Farage disclosed a $286,000 investment in Stack BTC through his media company Thorn In The Side, giving him a 6.31% stake. Stack BTC, chaired by former Chancellor Kwasi Kwarteng, recently increased its Bitcoin holdings to 68 BTC after purchasing an additional 37 BTC for about $2.7 million.

Political pressure around crypto-linked funding has grown following the Rycroft Review, which warned that digital asset donations could pose risks of foreign interference in British elections. The UK government imposed an immediate moratorium on crypto donations to political parties last month while new rules for political financing are being prepared. It is worth noting that neither Harborne’s donations to Reform UK nor the £5 million payment to Farage were made using cryptocurrency.

South Korea has officially announced that a 22% tax on virtual asset gains will take effect on January 1, 2027. The Ministry of Economy and Finance confirmed this timeline, with Moon Kyung-ho, director of the income tax division, stating at a National Assembly forum that the government intends to proceed as planned. This marks the first clear public affirmation of the launch date by the ministry.

Under the revised Income Tax Act, any annual gains from cryptocurrency transfers or lending exceeding 2.5 million South Korean won (approximately $1,900) will be subject to a combined tax rate of 22%. This includes 20% national income tax and 2% local income tax, applied to income earned after the effective date.

The National Tax Service (NTS) is developing detailed guidelines for the system, with plans to release them within 2026 after consultations with major local exchanges such as Upbit operator Dunamu, Bithumb, Coinone, Korbit, and Gopax. These platforms will help shape data reporting standards and transaction record formats necessary for tax calculations. The NTS is also building infrastructure to receive crypto trading data from domestic exchanges, with the first tax filing period expected in May 2028 for income earned in 2027.

Despite previous delays and ongoing political debate—including a bill proposed by the People Power Party to abolish the tax before its rollout—the Finance Ministry now appears resolute. Moon rejected arguments that the end of financial investment income tax should affect the crypto tax, emphasizing that the framework was established through a 2020 amendment to the Income Tax Act. The decision is expected to impact approximately 13.26 million investors, based on cumulative Upbit member data from December 2025, highlighting the scale of the market that will be affected.

Solana’s value has increased by nearly 9% over the last week, reaching approximately $90 on Thursday and boosting its market cap above $51 billion. The $90 level has repeatedly acted as a significant resistance point since late March, with prior attempts to surpass it losing steam. However, the daily chart indicates that momentum may be tilting in favor of buyers.

The broader crypto market has stabilized recently due to improved geopolitical conditions and lower oil prices, which have revived risk appetite. Bitcoin’s stability above key levels has also reinforced confidence in major altcoins like Solana.

Solana’s price action shows sellers may be losing control near the range top. Unlike earlier rejections, the current consolidation below resistance is tight, suggesting buyers are absorbing selling pressure rather than fleeing. On-chain activity has stabilized, with decentralized application usage no longer declining as sharply. Futures open interest has started recovering after weeks of sluggishness.

On the daily chart, Solana remains in a consolidation pattern after recovering from February lows near $68. It has built a base above $80, which has held for weeks. Currently trading around $89, the token is above its 20-day, 50-day, and 100-day moving averages, which are converging between $85 and $87. Such compression often precedes a strong directional move once price breaks out.

Momentum indicators are improving: the MACD lines are nearing a bullish crossover, which could confirm strengthening buying momentum. The Aroon Up indicator has surged toward 100, while Aroon Down has weakened, indicating buyers are gaining short-term control. Nonetheless, the broader trend remains cautious as Solana trades below its 200-day SMA near $115, suggesting the long-term trend is not yet bullish.

If Solana closes decisively above $90, it could target the next resistance at $97 and then the psychological $100 level. A breakout above $100 would significantly boost bullish sentiment. Conversely, failing to hold above the moving averages near $85 might lead to a retest of support at $80, where buyers have previously stepped in.

Dogecoin is currently stuck near the $0.11 mark, with a market cap of about $18.9 billion and daily trading volumes exceeding $2.6 billion. Despite being among the top ten cryptocurrencies by market capitalization, DOGE remains more than 80% below its all-time high of $0.73 set in May 2021. The coin’s price has been range-bound for months, leading investors to question whether a breakout is possible.

Exchange data paints a consistent picture: Kraken quotes DOGE at $0.11 with a 24-hour decline of around 3.9%, while Crypto.com shows a price of $0.1106 and a volume of $2.37 billion, down 4.17% on the day. The seven-day high is roughly 5.4% above current levels, indicating limited upward momentum. Analysts point out that Dogecoin’s massive circulating supply and inflationary issuance make it fundamentally different from scarce assets like Bitcoin, and its price remains highly dependent on social media hype and retail sentiment.

Looking ahead to 2026, most systematic forecasts predict a contained trading range. CoinCodex projects DOGE will trade between $0.1086 and $0.2521 over the year, with the upper bound representing a potential 124% gain if risk appetite returns. In the near term, the model suggests DOGE will fluctuate around current levels, with a possible push toward $0.1224 by mid-May. Another forecast roundup indicates that CoinCodex expects DOGE to stick close to $0.125 to $0.145, while DigitalCoinPrice is more optimistic, suggesting a move toward $0.33 if crypto sentiment improves. WalletInvestor sketches a broader range of $0.083 to $0.256, with an average around $0.171, implying gradual movement rather than explosive rallies.

Technical indicators lean neutral as well. The 50-day simple moving average sits near $0.096, the 200-day SMA around $0.124, and the current price of about $0.1162 is between them. The 14-day RSI is near 80, indicating a stretched but not exhausted uptrend. Overall, Dogecoin’s 2026 path is likely to mirror broader crypto sentiment, with room for sharp rallies if speculative flows reignite, but the base case remains a choppy grind within the $0.10 to $0.25 corridor rather than a straight shot back to its peak above $0.70.

Ethereum’s current price hovers around $2,350, with a market cap of approximately $281 billion and a 24-hour trading volume exceeding $20 billion. This level is significantly below its all-time high of $4,955 but far above the sub-$1,000 lows seen during the previous bear market.

Various forecasting models suggest a gradual upward trajectory for the remainder of 2026, with most estimates clustering between $2,200 and $3,000. The base-case target for year-end is around $2,750 to $2,800, reflecting a steady but not explosive growth pattern.

However, there is a wide dispersion in forecasts. Long-term institutional scenarios remain optimistic, projecting $4,000 to $7,000 or more if Ethereum ETF inflows and on-chain usage accelerate significantly. These higher targets are considered best-case scenarios dependent on favorable macroeconomic conditions, regulatory clarity, and strong adoption.

Derivatives and prediction markets align with the more moderate outlook. For instance, a Polymarket event showed an 84% probability that ETH would trade between $2,300 and $2,400 on a recent date, while higher bands like $2,400 to $2,500 had only low single-digit odds. This indicates that traders expect Ethereum to remain near its current range in the near term, with a slight upward bias rather than a sharp rally back to its former highs.

New data from the US Department of Labor shows that initial jobless claims for the week ending May 2 totaled 200,000, outperforming the anticipated 205,000 figure. This result highlights a persistently robust labor market, which dampens expectations for swift Federal Reserve rate reductions that crypto investors have been banking on.

The latest report, released on Thursday, follows a streak of unusually low claims. The previous week’s figure was revised up to 190,000 from an initial 189,000, still near historic lows. Analysts had predicted a slight increase, but the actual number came in below consensus, reinforcing the narrative of a tight employment landscape.

For digital asset markets, this development signals continued pressure. A resilient labor market typically reduces the likelihood of aggressive monetary easing, as policymakers focus on controlling inflation rather than stimulating growth. Consequently, Treasury yields may stay elevated, and the US dollar could strengthen, both headwinds for cryptocurrencies like Bitcoin and Ethereum.

Previous instances of strong labor data have triggered sell-offs in crypto. For example, after a better-than-expected non-farm payrolls report earlier this year, Bitcoin dropped below $67,000. Similarly, last month, initial claims at 207,000 versus a 213,000 forecast led to a brief dip in Bitcoin’s price from $75,000 to $74,600. These patterns suggest that crypto traders are sensitive to macroeconomic signals that delay rate cuts.

The current claims figure aligns with a year-long trend of labor market outperformance. Each upside surprise pushes the macro environment further away from the aggressive easing cycle that many believe would fuel the next rally in risk assets. With employment remaining strong, upcoming inflation data and Fed commentary will be crucial in shaping market expectations.

In summary, the 200,000 claims print, though only a modest beat, reinforces the view that the US economy is resilient. This keeps crypto markets under pressure, as investors recalibrate for a higher-for-longer interest rate scenario.

Boston Federal Reserve President Susan Collins has opposed market speculation about imminent rate cuts, advocating instead for a policy statement that removes any implicit bias toward easing. During a recent press briefing, Collins expressed support for maintaining current interest rates but emphasized the need to revise the Fed’s language so it does not hint at a cut as the next move. She noted that a growing number of Federal Open Market Committee members favor signaling that the next policy step could be either a rate cut or a hike, reflecting a more symmetric stance.

Collins has consistently argued for a patient approach, warning that premature easing could stall progress on inflation. In her view, monetary policy is already mildly restrictive and close to neutral, making further adjustments unnecessary until there is clear evidence that inflation is sustainably moving toward the 2% target. This position aligns with her previous comments, where she set a high bar for additional easing and expressed reluctance to support further cuts amid persistent price pressures.

The push for neutral guidance has significant implications for financial markets, particularly crypto, which has been sensitive to Fed surprises. Earlier this year, a widely anticipated rate cut failed to boost Bitcoin and Ethereum, as the move was fully priced in, leaving BTC around $92,000 and ETH near $3,400. If Collins and other hawks succeed in shifting the statement to a symmetric “either way” framing, it could reinforce expectations that policy will remain tight even as economic growth slows, potentially capping speculative activity in digital assets.

Market participants should note that rate cut timing remains uncertain, and macro volatility is likely to persist. Recent analysis indicates that hints of lower rates have only briefly lifted sentiment before fading, while Bitcoin’s reaction to Fed decisions has been choppy compared to gold’s more stable safe-haven appeal. As long as the path for cuts remains unclear, crypto assets may continue to experience price swings driven by shifting rate expectations.

Toncoin experienced a dramatic price surge this week, soaring more than 100% following a pivotal announcement by Telegram’s founder, Pavel Durov. The message revealed that Telegram would assume direct control over the development of The Open Network ecosystem, effectively replacing the TON Foundation as the primary driver of growth and adoption. This strategic shift triggered a wave of buying that propelled TON from under $1.20 to a high of $2.90, before it settled near $2.43 at the time of writing.

The move came as Telegram became the largest validator on the network after staking millions of TON tokens, aligning the company’s interests more closely with the blockchain’s long-term stability and expansion. Durov also unveiled a new roadmap called ‘Make TON Great Again’ or MTONGA, which outlines seven steps focused on scaling infrastructure, enhancing transaction speeds, and deepening integration with Telegram’s massive user base of over 1 billion people.

Investor sentiment was further boosted by a sharp reduction in transaction fees—down nearly sixfold to approximately $0.0005—making the network more appealing for microtransactions, mini-apps, and everyday payments. Additionally, the Catchain 2.0 upgrade improved block times to roughly 400 milliseconds, enabling near-instant transaction finality. These technical enhancements, combined with tighter Telegram integration, spurred aggressive buying across both spot and derivatives markets, while short liquidations amplified the upward momentum.

On the daily chart, Toncoin’s price confirmed a breakout from a long accumulation range, surging above the key $1.60 resistance level. The rally also pushed TON above its 200-day moving average near $1.55, reinforcing bullish momentum and signaling a potential shift in the long-term trend. Momentum indicators show buyers retain control, though the RSI has climbed above 90, indicating extremely strong buying pressure that could lead to a temporary cooling-off period or short-term volatility. The moving average ribbon has also started turning bullish, with shorter-term averages crossing above longer-term ones after weeks of sideways movement.

If bullish momentum persists, traders may target the psychological $3 mark, followed by the broader resistance zone near $3.20. However, failure to hold above the $2.00 breakout area could trigger profit-taking and a retest of support in the $1.60–$1.70 range before the next upward leg.

The renowned blockchain investigator ZachXBT has publicly accused the individual behind the LAB token of engaging in market manipulation tactics on centralized exchanges (CEXs), claiming these actions directly harm everyday traders. In a post on X, ZachXBT stated that the LAB founder has been sharing vague philosophical musings while simultaneously orchestrating schemes that undermine market integrity. He revealed that he had sent a private warning message to the founder, but it was read and ignored, indicating a lack of accountability. ZachXBT described the behavior as further damaging the industry’s already fragile reputation.

This accusation emerges shortly after other monitoring entities flagged unusual trading patterns around LAB. For instance, a recent MEXC report highlighted a wallet suspected of being tied to insider activity or market making, which generated an estimated $1.13 million profit after LAB’s price surged tenfold in a month. The wallet’s pre-pump positioning and subsequent sell-off raised significant concerns about fairness in the crypto space.

ZachXBT’s work consistently targets such malfeasance. In a prior investigation, he accused RaveDAO of being aware of market manipulation involving its RAVE token, which experienced an 11,000% pump followed by a crash. He pointed to transfers from a token-distribution wallet to Bitget deposit addresses coinciding with a 40% intraday drop. Despite RaveDAO’s denial, ZachXBT argued that high supply concentration and fund origins suggested the team knew who was responsible.

Such allegations are increasingly influencing how traders perceive new CEX listings. A Reddit round-up of ZachXBT’s earlier Tokenlon probe indicated that 57–60% of that DEX’s volume between 2022 and 2023 involved wallets later linked to fraud networks, eventually ending up on CEXs. This fosters a view that parts of the exchange ecosystem are entangled with tainted flows and fabricated liquidity.

For token prices, reputational shocks like these typically lead to heightened volatility and reduced liquidity as some traders exit while others attempt to fade or front-run the news. Crypto.news has previously covered similar dynamics, including a DeFi token’s collapse following manipulation claims and how repeated CEX listing scandals have driven capital toward on-chain venues.

Unless the LAB founder provides a verifiable rebuttal, the likely outcome includes a valuation discount on LAB, persistent sell pressure on any exchange where it is traded, and further erosion of trust in small-cap listings—affecting broader market sentiment.