Firebrand union leader Len McCluskey has fired a vicious parting shot against Sir Keir Starmer, claiming Labour’s ship could “go under” with him at the helm.
In hard-hitting memoirs to mark his retirement, the Unite general secretary known as “Red Len” suggests Sir Keir will fail to win back the “Red Wall” seats Labour lost to the Tories in 2019.
Mr McCluskey, still Jeremy Corbyn‘s chief union cheerleader, accuses the Labour leader of struggling to inspire the public, “vapid New Labour cliches”, and an “anti-democratic crackdown on the left”.
Image: Len McCluskey is standing down as leader of the Unite union
In the book, titled Always Red, he settles old scores with enemies in the Labour movement including Tom Watson and Gerard Coyne – the rival he narrowly defeated in an election in 2017 who is now a candidate for general secretary once again.
And Mr McCluskey also confirms one of Westminster’s worst kept secrets: that he is in a relationship with Mr Corbyn’s chief of staff Karie Murphy, who is singled out for praise several times in the book.
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Writing about rumours about their “personal connection” when she went to work for Mr Corbyn, he admits to “a game of cat of mouse” with the press. “We wanted our relationship to be kept private, away from the public gaze,” he reveals.
But in the very last sentence in the book, he writes: “Finally, thank you to Karie for persuading me to write this book and giving me the love and support to see it through.”
More on Jeremy Corbyn
In a highly unusual move, several pages of what the publishers call “sensitive material”, including a showdown with Sir Keir about Mr Corbyn’s suspension from Labour, have been redacted until publication next month.
An uncompromising and highly critical chapter about the Labour leader, in which Mr McCluskey questions whether he is a “babe in the woods” or “altogether more calculating”, includes no fewer than 25 blacked out paragraphs.
Image: Mr McCluskey was a staunch ally of Jeremy Corbyn during his tenure as Labour leader
The first redaction is about a phone conversation when Sir Keir told the Unite leader he had suspended Mr Corbyn over antisemitism, followed by more than two pages about a meeting with the leader and his deputy Angela Rayner.
Mr McCluskey writes: “Angela began by requesting our discussion be confidential. Given what happened subsequently, I no longer feel bound by that.”
Then comes the two-page redaction. And he adds defiantly: “I am so confident of the account I have given here that I have submitted it for use in legal proceedings and will stand by it in court.”
In a withering verdict on Sir Keir after Mr Corbyn’s suspension, Mr McCluskey writes: “I still hoped and believed that Keir Starmer could be Prime Minister.
“But I was fearful that if he continued on the course set in his first year of leadership he would not win back the red wall seats.
“If a general election was called early, which seemed possible, Starmer would have little time to rectify his mistakes.
“He still had the opportunity to change course, unite his party around a radical platform and make the promised ‘moral case for socialism’.
“But he needed to realise that if the ship he was captaining listed too far to the right, it would go under.”
On his feud with Mr Watson, Mr McCluskey talks about “the death of a friendship” when the then Labour deputy leader pulled out of peace talks with the unions during a coup against Mr Corbyn in 2018.
Image: The first redaction is about a phone conversation when Sir Keir Starmer told the Unite leader he had suspended Jeremy Corbyn over antisemitism
He adds: “I haven’t spoken to Tom since, save for a few barbed texts two years later when his attempt to unseat me as Unite’s general secretary failed.”
Accusing Mr Watson of “a view to doing Corbyn in” and being “duplicitous”, Mr McCluskey speculates that his motives may have been to become interim leader and maybe stay on without a contest.
“Whatever the truth, it was a squalid, ignoble way to end a valued friendship.”
On Mr Coyne, Mr McCluskey says; “There is no doubt that the 2017 Unite general secretary election was a proxy war. If they could take me down, they could take Jeremy down.
“Were it not for the group of right-wing MPs and officials sometimes dubbed the ‘West Midlands mafia’ – the likes of John Spellar, Jess Phillips and Tom Watson – I’m sure Coyne would have remained a man of no consequence.”
Accusing Mr Coyne of “pumping out lies” and a negative campaign, he writes: “It was vicious. It was horrible. It consisted almost entirely of personal attacks and smears against me.”
He also accuses his rival of being “not a good loser” and a “Trump-like crusade to overturn the election result”. But he also accuses Mr Watson of being involved in “this grubby attempt to dislodge me using underhand means”.
Mr Coyne is currently standing in the election to succeed Mr McCluskey against Steve Turner and Sharon Graham, with the result due in late August.
The US Securities and Exchange Commission has officially dropped its investigation into the New York-based tokenization platform Ondo Finance, which it initiated in 2023.
Ondo Finance has received formal notice that a confidential, multi-year SEC investigation into the platform has been closed without any charges, the company announced on Monday.
“The probe examined whether Ondo’s tokenization of certain real-world assets complied with federal securities laws as well as whether the ONDO token was a security,” the statement said.
The SEC’s decision to end the investigation reflects a broader shift in the US policy regarding real-world asset (RWA) tokenization, bringing it on the authority’s formal agenda, Ondo noted.
A new chapter of tokenization in the US
According to a report by Crypto in America, the SEC initially opened the probe in October 2023 under former SEC Chair Gary Gensler, who was known for his stringent stance toward the crypto industry.
However, since Paul Atkins took over as SEC chair, the agency has closed a number of crypto-related cases involving major companies, including Coinbase, Ripple and Kraken.
“When the inquiry began in 2024, the US regulatory environment for digital assets was defined by caution, confusion, and occasionally overbroad enforcement actions,” Ondo Finance said in its blog post.
Against that backdrop, Ondo was “one of the only firms focused on tokenizing publicly listed equities at scale,” it said, adding: “Being early, and being successful, came with scrutiny.”
According to Ondo, the resolution of the SEC inquiry marks the end of one chapter for Ondo and the beginning of another, where tokenized securities become a “core part of the US capital markets.”
“The future of global finance, including U.S. capital markets, will be onchain and Ondo will help lead that transition,” Ondo said.
Most US tokenization platforms serve overseas markets
The news comes as most tokenization platforms offer tokenized equity products primarily to customers outside the US, including firms such as Kraken-owned Backed, the issuer of xStocks.
“The reality is that users in the US already have relatively seamless access to traditional equities such as stocks and ETFs through well-established brokerage platforms,” Alchemy Pay chief marketing officer Ailona Tsik told Cointelegraph in June.
Following the SEC probe’s resolution, it remains to be seen whether RWA platforms like Ondo will begin offering services to US-based clients.
Securitize, a rival US tokenization platform, also obtained regulatory approval to operate as both an Investment Firm and a Trading & Settlement System (TSS) in the EU on Nov. 26. According to the company, the approval positioned it as one of the first operators for regulated digital securities infrastructure in both the US and EU.
Argentina is considering allowing local financial institutions to engage more directly with cryptocurrencies in a move that would mark a significant shift from its restrictive stance, according to local media report.
According to a Friday report by local news outlet La Nacion, Banco Central de la República Argentina (BCRA), Argentina’s central bank, is considering allowing traditional banks to trade cryptocurrencies. The story cited “sources close to the organization.” Cointelegraph has not independently verified those claims.
The BCRA stepped in to ban financial institutions from offering crypto trading just days after two of the country’s largest banks signaled they were opening up to digital assets in May 2022. The BCRA said that such initiatives posed risks to users and “to the financial system as a whole.”
New cryptocurrency rules are reportedly being drafted, though La Nación’s sources did not specify when they might be finalized or implemented. Representatives of a locally operated exchange suggested that the measure could be approved as early as April 2026.
Rumors about such a potential shift have circulated for some time among crypto exchanges, bankers and people close to regulators, the report said. A representative of local crypto exchange Lemon told the outlet that the company believes “that a more open financial ecosystem will be a key driver for the mass adoption of digital assets in Argentina.”
The country’s crypto industry has also been growing at a steady pace, overtaking Brazil as the top Latin American country in terms of estimated crypto inflows by users in early October 2024. Separate data from July 2024 suggested Argentina was leading the Western Hemisphere in crypto adoption, with analysts often pointing to the peso’s extreme weakness and inflation that had reached around 276% as key drivers.
Until recently, regulators were largely hostile to that trend. In May 2023, the central bank banned payment providers from offering crypto transactions, reinforcing earlier limits on how formal financial institutions could interact with digital assets.
Volodymyr Zelenskyy is heading to Downing Street once again, but Prime Minister Sir Keir Starmer will be keen to make this meeting more than just a photo op.
On Monday the prime minister will welcome not only the Ukrainian president, but also E3 allies France and Germany to discuss the state of the war in Ukraine.
French President Emmanuel Macron and German Chancellor Friedrich Merz will join Sir Keir in showing solidarity and support for Ukraine and its leader, but it’s the update on the peace negotiations that will be the main focus of the meet up.
The four leaders are said to be set to not only discuss those talks between Ukraine, the US and Russia, but also to talk about next steps if a deal were to be reached and what that might look like.
Ahead of the discussions, Sir Keir spoke with the Dutch leader Dick Schoof where both leaders agreed Ukraine’s defence still needs international support, and that Ukraine’s security is vital to European security.
But while Russia’s war machine shows no signs of abating, a warm welcome and kind words won’t be enough to satisfy the embattled Ukrainian president at a time when Russian drone and missile attacks continue to bombard Kyiv.
Image: Keir Starmer welcoming Volodymyr Zelenskyy to Downing Street during a previous visit. Pic: AP
What is the latest in negotiations?
Over the weekend, Mr Zelenskyy said he had discussed “next steps” with US President Donald Trump’s advisers and was “determined to keep working in good faith”.
“The American representatives know the basic Ukrainian positions,” Mr Zelenskyy said in his nightly video address. “The conversation was constructive, although not easy.”
But on Sunday evening, ahead of an event at the Kennedy Center, President Trump said he was “disappointed” with Mr Zelenskyy, as was asked about the next steps in Russia-Ukraine talks following negotiations.
He said: “We’ve been speaking to President Putin and we’ve been speaking to Ukrainian leaders, including Zelenskyy, President Zelenskyy.
“And I have to say that I’m a little bit disappointed that President Zelenskyy hasn’t yet read the proposal. That was as of a few hours ago.
“His people love it. But he hasn’t – Russia’s fine with it. Russia’s you know, Russia, I guess, would rather have the whole country when you think of it. But Russia is, I believe, fine with it, but I’m not sure that Zelenskyy’s fine with it. His people love it but he hasn’t read it.”
On Saturday, Keith Kellogg, Trump’s outgoing Ukraine envoy, had told the Reagan National Defence Forum that efforts to resolve the conflict were in “the last 10 metres”.
Kremlin spokesman Dmitry Peskov praised new US security strategy over the weekend, adding that Russia hopes this would lead to “further constructive cooperation with Washington on the Ukrainian settlement”.