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Jeremy Corbyn has accused Sir Keir Starmer of “political cowardice” after the party said it would continue to temporarily house asylum seekers on barges if it wins the next election.

The former Labour leader described the use of vessels as “morally indefensible”.

It comes as the first asylum seekers arrived on the controversial Bibby Stockholm vessel in Dorset this morning, with more arrivals expected throughout the day.

The barge is one of a number of alternative sites the Home Office is using to end reliance on expensive hotels for asylum seekers, which the government says is costing the taxpayer £6m a day.

On Sunday, Shadow Immigration Minister Stephen Kinnock admitted Labour would have “no choice” but to continue to use the alternative sites owing to the “mess” it would inherit from the Conservatives – but said the party would try to move asylum seekers out of hotels, barges and military camps as “quickly as possible”.

International Trade Secretary Nick Thomas-Symonds reiterated Labour’s position this morning, telling Sky News: “We have to address the situation that we inherit, but our policy is to drive the backlog down so we don’t have to use the barges, we don’t have to use the bases, we don’t have to use the hotels.

“It’s not a question of lowering expectations – it’s a question of being open and upfront with the British public about the chaos that we are going to inherit, but also the direction that we then want to go in, which is best for those people trapped in the system but also best value for the taxpayer too.”

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Inside the Bibby Stockholm barge

But Mr Corbyn told Sky News: “Forcing human beings who have escaped war and persecution to live on unsafe and overcrowded prison ships is morally indefensible.

“So too is the failure to offer a more humane alternative.

“These are human beings who are legally and legitimately exercising their right to asylum. We should be defending, not denigrating, that right.

“Political cowardice has consequences – and vulnerable people will pay the highest price.”

He added: “That’s why I’m proud to stand alongside people in my constituency campaigning for an immigration system based on dignity and care.”

So far no backbench Labour MPs have spoken out publicly in line with Mr Corbyn, who had the party whip removed in 2020.

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Labour ‘unhappy’ to inherit asylum barges

There has been considerable local opposition to the Bibby Stockholm due to concerns about the asylum seekers’ welfare and the impact on local services.

Charities have also raised concerns about whether such sites are suitable for those seeking asylum.

Natasha Tsangarides, associate director of advocacy at Freedom from Torture, said: “Cruel accommodation schemes like barges and tents are wholly inappropriate for people who have fled torture and war.”

Sky News has approached the Labour Party for comment on Mr Corbyn’s remarks.

Mr Corbyn spoke as questions remain over his political future and whether he intends to stay on as the MP for Islington North, a constituency he has represented since 1983.

The former leader was suspended from the parliamentary party in October 2020 over his reaction to a damning report by the Equality and Human Rights Commission into how antisemitism complaints were handled under his leadership.

Should Mr Corbyn wish to remain as the MP for Islington North he would have to run for another party or as an independent. While he has dropped suggestions that he may do the latter, he has not been explicit about his intentions.

Immediately after the publication of the antisemitism report, Mr Corbyn claimed “the scale of the problem” in Labour was “dramatically overstated for political reasons by our opponents”.

On becoming party leader, Sir Keir promised to “tear out antisemitism” from Labour.

In March he barred Mr Corbyn from standing for Labour at the next election after proposing a successful motion to the party’s ruling body, the National Executive Committee, that it should not endorse his predecessor to fight for his Islington North seat.

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EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

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EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

EU markets regulator says crypto may cause ‘broader stability issues’ as market grows

The European Securities and Markets Authority (ESMA) has warned that crypto will increasingly threaten traditional financial markets’ stability as the industry grows and becomes more entwined with traditional finance players.

“We cannot rule out that future sharp drops in crypto prices could have knock-on effects on our financial system,” ESMA’s executive director Natasha Cazenave said in an April 8 statement to the Economic and Monetary Affairs Committee.

Cazenave noted, however, that crypto currently only accounts for 1% of global financial assets and is not yet significant enough to cause major “spillover effects” into traditional financial markets.

She warned that interconnections between crypto and traditional markets are rapidly growing — particularly in the more crypto-friendly US — and called for closer monitoring.

“Crypto-assets markets evolve quickly, in an often unpredictable manner, and we need to keep a close eye on these developments,” Cazenave said, adding:

“Turmoil, even in small markets, can originate or catalyze broader stability issues in our financial system.”

Cazenave’s concerns ranged from spot crypto exchange-traded funds and stablecoin use to hacks, scams and scandals — highlighting the recent $1.4 billion Bybit exploit and FTX’s collapse in November 2022.

The European Union has already implemented several measures to safeguard against crypto risks, most notably the Markets in Crypto-Assets (MiCA) regulation that was rolled out last year.

While Cazenave said MiCA marked a “breakthrough” for crypto regulation, she added that there is “no such thing as a safe crypto-asset” and that more rules may need to be implemented to mitigate future risks.

Related: EU could fine Elon Musk’s X $1B over illicit content, disinformation

Her comments come as both crypto and the stock markets have experienced double-digit falls over the last few weeks as the Trump administration continues to follow through on its tariff plans.

Europe lags US in crypto adoption

While crypto adoption has accelerated in the US, Cazenave noted that over 95% of European banks remain on the sidelines, with no involvement in crypto-related activities.

However, retail participation is on the rise, with an estimated 10% to 20% of European investors having crypto exposure, which is in line with growing global interest, Cazenave said.

Most reports measuring US crypto adoption suggest that the range of adoption is between 15% and 28% of the population.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

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Shaquille O’Neal gets judge’s greenlight for $11M Astrals NFT settlement

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Shaquille O’Neal gets judge’s greenlight for M Astrals NFT settlement

Shaquille O’Neal gets judge’s greenlight for M Astrals NFT settlement

Former NBA star Shaquille O’Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers.

Florida federal court judge Federico Moreno granted approval of the settlement between O’Neal and the class group led by Daniel Harper in an April 1 order made available on April 8.

The deal created a fund of up to $11 million for eligible class members and awarded $2.9 million in attorney fees and costs. All those who purchased Astrals NFTs from May 2022 to Jan. 15 and those who purchased the project’s native GLXY tokens up until mid-January are eligible. 

“The fee sought by lead class counsel has been reviewed and approved as fair and reasonable by plaintiffs,” Moreno’s order read.

O’Neal was hit with the lawsuit in May 2023 over his founding and promotion of the Solana-based Astrals NFT project, which the suit claimed was an “offer and sale of unregistered securities.”

The class group said they bought Astrals NFTs and “suffered investment losses” due to O’Neal’s “conduct” in promoting the project.

In August, Judge Moreno recognized that the class suit had alleged that the former NBA player was a seller of the NFTs. O’Neal agreed to the settlement in November.

Shaquille O’Neal gets judge’s greenlight for $11M Astrals NFT settlement

Screenshot from court order on final settlement. Source: Courtlistener

NFT sales slump

The Astrals NFT collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana-based project that promoted a virtual world where users could socialize and play with others, including the basketball star. 

Related: NFT sales plunge 63% in Q1, but Pudgy Penguins, Doodles buck trend 

There has been no activity or sales from the collection for the past two years, according to NFT marketplace OpenSea. 

Overall, NFT sales are still in deep bear market territory, with just $27 million sold as of April 7, down from more than $2 billion per week at the end of 2021, according to CryptoSlam.

Magazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame

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Chancellor to hold tariff crisis talks with top City executives

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Chancellor to hold tariff crisis talks with top City executives

Rachel Reeves will seek to gauge the unfolding impact of President Donald Trump’s tariffs blitz on Wednesday when she holds talks with some of the City’s top executives.

Sky News has learnt the chancellor will hold talks with bosses from companies including Hargreaves Lansdown, Legal & General, Lloyds Banking Group and M&G amid ongoing volatility in global financial markets.

Insiders said the talks had been convened to help frame the Treasury’s financial services growth and competitiveness strategy.

However, they acknowledged that the fallout from US tariffs, while not directly affecting most City employers, would feature prominently on Wednesday’s agenda.

“The chancellor will use this meeting to show leadership, building on her statement to the House earlier today, and reiterating that the government will act decisively to take the right decisions in our national interest and protect working people,” a Treasury insider said.

Ms Reeves would stress a commitment to working with international partners to reduce barriers to trade, while pursuing the best possible bilateral deal with the US, they added.

Charlie Nunn, the Lloyds boss; Antonio Simoes of L&G; and Dan Olley, Hargreaves Lansdown’s chief, will all attend the talks.

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It will be the latest in a string of meetings the chancellor has held in recent weeks in a bid to boost economic growth.

Her budget last October sparked a furious backlash from the business community, while last month’s spring statement raised fresh fears about the possibility of further tax rises later this year.

None of the companies invited to Wednesday’s meeting would comment when approached by Sky News.

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