Indian users of Bybit will now pay GST (Goods and Services Tax) on a range of cryptocurrency transactions. Bybit’s announcement complies with India’s crypto tax rules as the international exchange seeks to deepen its ties in the country. Bybit Imposed 18% GST Burden On Users According to an official announcement, cryptocurrency exchange Bybit says Indian
Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election
President
hinted that Americans could soon see a dramatic shift in how the government is funded, possibly eliminating federal income taxes. In a Truth Social post on April 27, Trump suggested that once his new Trump Tariff policies on imported goods are fully in place, income taxes could be “substantially reduced,” especially for those earning under $200,000 a year.
Trump introduced a new concept called the “External Revenue Service,” proposing that tariffs, rather than income taxes, could support the government. He described it as a return to an earlier model, pointing to the 19th-century Gilded Age when the U.S. operated without an income tax.
Could Lower Taxes Boost Investments and Crypto?
Lower income taxes could leave Americans with more disposable income, potentially sparking increased investment in stocks, real estate, and cryptocurrencies. Market watchers note that extra take-home pay often translates into higher consumer spending and asset growth. However, analysts caution that the broader economic impact — especially against the backdrop of Fed rate cuts and fluctuating markets — will ultimately determine whether the plan would fuel major investment surges.
Skepticism Grows Over Lack of Details
This isn’t the first time Trump has floated the idea. He previously mentioned the concept during a 2024 appearance on the Joe Rogan Experience. Critics argue that Trump has yet to provide a clear roadmap on how a tariff-funded government would work, especially at current spending levels.
Research from Dancing Numbers suggests eliminating income taxes could save the average American more than $134,000 over a lifetime, with even greater savings if payroll taxes are removed. Still, experts warn that relying solely on tariffs might not generate enough revenue without significant changes to federal spending.
U.S. Commerce Secretary Howard Lutnick, a strong supporter of Trump’s tariff strategy, has also advocated for scrapping the IRS. In January 2025, Lutnick pointed to the early 1900s, when tariffs helped make America the world’s richest country, arguing that protecting domestic workers through Trump Tariff measures could once again boost national wealth.
New Tax Proposals Emerge
Financial strategist Bert Dohmen has pitched additional tax ideas for Trump to consider. He proposes exempting seniors over the age of 76 who operate small businesses from income taxes, arguing that the administrative burden is too high for older entrepreneurs.
Dohmen also recommends offering tax incentives for families, suggesting a 10% tax exemption per child, capped at a 50% total reduction, to encourage higher birth rates — a growing concern among industrialized nations.
While Trump signed an executive order to introduce sweeping new tariffs earlier this month, frequent revisions and policy shifts have injected volatility into the markets. Stocks and bond yields have reacted sharply, with many analysts warning that the evolving Trump Tariff framework is creating more uncertainty than stability.
The instability comes at a critical time when markets are already bracing for the impact of potential Fed rate cuts later this year. Investors will closely watch how Trump’s tariff-driven vision and the Fed’s monetary policy intersect to shape the economic landscape ahead of the 2026 election season.
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President hinted that Americans could soon see a dramatic shift in how the government is funded, possibly eliminating federal income taxes. In a Truth Social post on April 27, Trump suggested that once his new Trump Tariff policies on imported goods are fully in place, income taxes could be “substantially reduced,” especially for those earning …
Since the Pi Network mainnet launched on February 20, it has made headlines for its ambitious goals. Yet, it has also faced substantial criticism. The underwhelming price performance and lack of DApps, among other issues, have raised questions about Pi Network’s ability to meet the expectations of its reported 60 million users, referred to as Pioneers.
Below are five key areas of underperformance that emerged as focal points for observers in early 2025.
1. Pi Network’s Lack of Binance Listing
Pi Network’s community has been vocal in its push for a listing on major exchanges like Binance. In fact, 86% of participants voted to list Pi Coin (PI) in a February community vote.
Despite this show of support, Binance has not listed PI. On May 15, the exchange posted its logo on X (formerly Twitter) featuring several mathematical symbols, including π. The post sparked speculation among Pioneers, but no official listing announcement followed.
The absence of a listing has led to renewed scrutiny over Pi Network’s credibility. Notably, Binance applies a rigorous evaluation process before listing any asset.
The exchange considers user adoption, business model viability, relevance, tokenomics, technical security, team background, and compliance with regulatory standards. The decision not to list Pi Coin may indicate that the project has yet to meet one or more of these critical benchmarks.
“I now better understand why Pi is not listed on major exchanges such as Binance and Coinbase. It is likely that the Pi Core Team has not been transparent enough about the locking and burning mechanism involving the billions of Pi coins currently owned by the PCT,” Pioneer Dr. Altcoin posted on March 22.
Coinbase, another top exchange, has also refrained from listing Pi. This has further fueled disappointment among Pioneers about the token’s potential for mainstream adoption. Nonetheless, Pi Coin remains available for trading on HTX, Bitget, MEXC, and OKX.
2. Pi Coin Price Fails to Meet Expectations
Pioneers have been actively mining Pi Coin for around six years, anticipating major gains. Yet, its price was a major letdown for many. At launch, Pi Coin was listed on OKX with a floor price of just $2. This was way below its IOU trading value.
The underwhelming debut worsened as PI dipped below the $1 mark shortly after listing. Although the token rebounded to an all-time high of $3 in late February, the rally was short-lived. PI soon resumed its downtrend, falling below $1 again by late March.
Last week, the level was briefly reclaimed as support. Yet once more, PI failed to hold above it. These declines came despite some bullish catalysts.
The launch of the Pi Ventures Fund was followed by a sharp price drop rather than a recovery. Additionally, Pi Network founder Nicolas Kokkalis made a rare public appearance at Consensus 2025 on May 16.
Many hoped it would restore investor confidence. Instead, the token plunged. BeInCrypto data showed that PI dipped 42.6% over the past week. At press time, Pi Coin’s price was $0.7, down 3.1% over the past day.
While the official announcement outlines a funding pool of up to $100 million, Pi Network Foundation retains full discretion over the deployment of these funds.
“The Pi Foundation is not obligated to invest the entire $100 million, based on the quality of applicants and number of startups accepted into the initiative,” the blog read.
The initiative also allows for phased investments over time. Additionally, the Foundation can discontinue funding at any stage. This condition has not been well received by some in the community, who expected more immediate and guaranteed support for ecosystem development.
“The $100M promise investment will discontinue from time to time if they don’t see any investors coming or having no impact at all LOL,” a user wrote.
4. Pi Network’s Missing Decentralized Apps (dApps)
The concerns extend beyond the fund’s stability. Dr. Altcoin alleged that the team is using the fund to build DApps that should have already been completed.
He explained that one of Pi Network’s mainnet launch conditions was deploying 100 live dApps. As of May 2025, this promise remains unfulfilled, with most dApps still missing from the ecosystem.
“After 6 years of waiting, why isnt anyone asking the real question: Where are the 100 Dapps we were promised?” the analyst stated.
The shortfall has left many in the community questioning the network’s readiness and ability to support a functional ecosystem.
5. Pi Network’s Roadmap Issues
Another major concern is the lack of transparency. Pi Network unveiled a three-phase roadmap for its mainnet migration in April 2025, but the absence of specific timelines has frustrated users.
A report from BeInCrypto highlighted the community’s backlash, emphasizing that the roadmap did not include estimated dates or an audit process to address discrepancies in historical mining data. This has further deepened distrust in the project’s leadership.
That’s not all. Other issues, such as delays in KYC and challenges in migrating tokens to the Pi Network mainnet, have also been prevalent.
Thus, Pi Network’s first three months post-launch have been marked by unmet expectations and growing disillusionment among its Pioneers. As the network navigates these setbacks, its ability to deliver on its ambitious vision will be critical to restoring confidence in the months ahead.
Despite Bitcoin clocking a fresh all-time high above $111,000, XRP, like many altcoins, continues to struggle to reclaim previous highs. In 24 hours, XRP price has registered a modest 3.6% gain despite a 250M whale move. So, why is the price stalling, and what should traders expect next from XRP? XRP Price Struggles Despite 250M Buying Spree On-chain data shows that on May 21, a whale address moved nearly 250M XRP tokens from the Kraken exchange. In most cases, heavy accumulation by XRP whales often precedes notable gains in price as demand surges and the supply on exchanges drops. XRP Whale Activity However, this was not the case this time around. In the last 24 hours, Ripple price has fluctuated between a daily low of $2.33 and a daily high of $2.43. At press time, XRP has posted the least gains compared to other top altcoins like Solana, Dogecoin, and… Read More at Coingape.com