U.S. President Donald Trump is reaffirming his commitment to tariffs, emphasizing that this approach could lead Americans who pay income tax to witness their taxes “substantially reduced, maybe even completely eliminated.” ‘External Revenue Service’ Incoming: Trump Eyes Elimination of Income Taxes Trump maintains that as tariff revenues accumulate, income taxes for American citizens could either […]

Trump Vows Tariff Windfall Will Wipe out Income Taxes for Millions

Crypto exchange Bitget says it is sending letters from its lawyers to account 
holders it alleges were involved in manipulating the price of perpetual 
futures contracts tied to the VOXEL token.
Eight account holders that the exchange accuses of being involved in the April 
20 incident and who allegedly pocketed $20 million between them will receive a 
letter from the exchange&#8217;s lawyers in &#8220;quick succession,&#8221; Xie Jiayin, Bitget&#8217;s 
head of Chinese operations, said in an April 27 X post.
&#8220;These eight accounts are the main instigators of the VOXEL incident and have 
improperly gained more than 20 million US dollars from it,&#8221; she said, 
according to a translation of the post.
&#8220;Except for these eight accounts, all other users who participated in VOXEL 
trading on April 20 and have withdrawn funds do not need to worry,&#8221; she added. 
&#8220;The accounts have been restored to normal and no responsibility will be 
pursued in the future.&#8221;
_Source:__Xie Jiayin_
On April 20, Bitget said it discovered &#8220;abnormal trading activity&#8221; on its 
VOXEL/USDT perpetual futures contract and paused accounts it suspected of 
market manipulation.
The trading pair clocked over $12 billion in volume, dwarfing the metrics of 
the same contract on Binance. After the pause, Bitget rolled back the 
irregular trades to claw back the gains.
At the time, Bitget CEO Gracy Chen told Cointelegraph that the trades were 
between individual market participants, not the platform itself, and insisted 
the losses were not platform-wide and user funds remained safe.
## Bitget still investigating cause of incident
Jiayin said Bitget plans to distribute 100% of the recovered funds to affected 
users through airdrops while a complete incident report is still in the works.
Some X users claimed the incident was caused by a bug in a market maker bot, 
which caused VOXEL&#8217;s excessive volume. Traders who spotted the suspected bug 
early used high-leverage bets to boost their profits in a zero-cost exploit.
_**Related:**__**Bitget CEO slams Hyperliquid &#8216;s handling of &#8216;suspicious&#8217; 
incident involving JELLY token**_
VOXEL is the native utility token of Voxies, a free-to-play, 3D turn-based 
tactical RPG game built on the Ethereum blockchain.
Decentralized exchange Hyperliquid suffered a similar incident on March 27, 
when a whale allegedly exploited the liquidation parameters to profit at least 
$6.26 million on the Jelly my Jelly (JELLY) memecoin.
Hyperliquid has since delisted perpetual futures tied to the JELLY token, 
citing evidence of suspicious market activity as the reason for the decision.
_**Magazine:**__**Memecoins are ded &#8212; But Solana &#8216;100x better&#8217; despite 
revenue plunge**_

Bitget takes legal action on alleged VOXEL futures price manipulation

Decentralized finance platform Loopscale has reached an agreement with the 
hackers who exploited its system, securing the return of stolen funds in 
exchange for a bounty. In an Apr. 28 post on X, Loopscale confirmed that the 
hacker behind its…

Hackers behind $5.8M Loopscale hack agree to return funds in exchange for 10% bounty

A Coinshares report predicts Bitcoin&#8217;s network hashpower will likely reach 1 
Zettahash per second (ZH/s) by July 2025. Reaching 1 ZH/s signifies enhanced 
network security and strong miner confidence. Bitcoin Hashrate at End of Q4 
Ahead of Projection Bitcoin&#8217;s network hashpower is on track to reach the 
unprecedented milestone of 1 Zettahash per second (ZH/s) […]

Coinshares: Bitcoin Hashpower Set to Hit One Zettahash by July

The event highlights potential ethical breaches, risking increased political 
influence through financial investments in digital assets.
The post &#8216;Pay to play corruption&#8217; — Sen. Warren and Schiff blast Trump&#8217;s 
upcoming dinner with top coin holders appeared first on Crypto Briefing.

‘Pay to play corruption’ — Sen. Warren and Schiff blast Trump’s upcoming dinner with top coin holders

World Liberty Financial founders met with Binance co-founder Changpeng Zhao to 
discuss ways to grow crypto adoption and set new industry standards. Announced 
on Apr. 27 via a post on X, WLFI said its founders Zach Witkoff, Zak Folkman, 
and…