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The morning after the last election, the Liberal Democrats were left licking some pretty deep wounds.

The single issue ballot saw Boris Johnson and his Tories bring home a landslide victory with their promise to “Get Brexit Done”, while Jo Swinson’s pledge to reverse the referendum saw Lib Dem numbers in the Commons shrink from 21 to 11 – with even the leader ousted from her seat.

An internal review of the campaign called it a “high speed car crash”, and some questioned whether the party could ever have the impact it once had on the electorate again.

But skip to 2023, with Sir Ed Davey at the helm and the party’s first autumn conference since that fateful year – COVID and the Queen’s death led to the others being cancelled – and there is an audible buzz of positivity coming from its members.

With four by-election wins since the start of this parliament, ripping safe seats from the Conservatives, a stonkingly good performance at last year’s locals, and a general election on the horizon, Oxford West and Abingdon MP, Layla Moran, says: “We are really buoyant as a party, and with all those wins, the first thing we will be doing at conference is celebrating!

“This could be the last conference before the next general election (which is expected in 2024). We are confident going into the election, but confident does not mean complacent.

“We have a winning formula that has worked with winning seats in both local and by-elections. We will take that forward but with zero complacency.”

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Lib Dems: ‘Get these clowns out of No 10!’

Her fellow Lib Dem MP, Christine Jardine, who represents Edinburgh West, agrees, saying there is “excitement” in the air.

“Momentum is the right word, but also optimism,” she adds. “We have four new MPs, hundreds of new councillors, and 16 new councils. It shows we have moved on from 2019 and we are in a very different place.

“This could be the start of something.”

For anything to get started, however, the Lib Dems need to agree on a policy programme.

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Members will vote on the party’s “pre-manifesto” on Sunday, which is described as the “first draft” of what is to come in the next election campaign.

The cost of living crisis will, of course, feature heavily, with various policies to help struggling households set to be unveiled.

Women and equalities spokeswoman Ms Jardine also revealed to Sky News one such measure that falls into her brief – a push for free period products, echoing the legal right established in Scotland last year.

“I grew up in a family with three daughters,” she said. “There were four women in the house and that got expensive!

“We need to be thinking of those issues, we need to be looking at how we look after people, not just those who are in a cost of living crisis now, but also those who are just managing – as they stop managing when these economic issues hit.”

Christine Jardine and Layla Moran
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Lib Dem MPs Christine Jardine (left) and Layla Moran (right)

Climate change will also be a focus – perhaps even more so after Rishi Sunak’s watering down of the Conservatives’ green policies this week – as the party continues to double down on its campaigning around waterways and sewage.

And, despite its impact on their last national results, the topic of Brexit will still be on the agenda, with Ms Moran saying the party hadn’t “lost its roots”.

“Well, the discussion is not about ‘Brexit’ as that’s the past,” she adds. “But the country is in a total state and you have to think about the economy, so you have to think about fixing that broken relationship with the EU.”

She says the Lib Dems have a four-part plan, “starting with the low hanging fruit like rejoining Europol and schemes like Erasmus”, then “when the timing is right”, bringing up the prospect of the single market again.

“It is not off the table,” says Ms Moran. “We want to be at the heart of Europe, that’s not changed.”

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Lib Dem Leader on wet wipe ban

However, the “golden thread” running throughout conference will be about one service in particular – the NHS.

A senior party source revealed the “centrepiece policy” would be the legal right to see a GP within seven days.

This isn’t a new idea for the party, but it will be the first time it has been formally adopted in the manifesto.

So, why the NHS? Because the Lib Dems think voters in the seats they are targeting are feeling the impact of health service pressures like never before.

“30 years ago, when we knocked on doors in Tory seats, we spoke about the economy or crime,” said a source close to Sir Ed.

“But 30 years ago, the NHS was just about working in those more rural areas, and struggling in more urban, Labour seats.

“If you go into those rural areas now, the local NHS services have been depleted so much – for those trying to get a GP appointment, those trying to get an ambulance to show up, the fear of ending up on a cancer waiting list.

“The NHS crisis has come to these villages.”

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The Lib Dems came second in 91 seats at the last election, and 80 of those saw them come second to the Tories, with many in the so-called “Blue Wall” – the term used to describe safe Conservative seats across the south of England.

The leadership thinks they can “take a bite” out of those seats, especially by focusing on the current government’s track record when it comes to the NHS, holding a “Blue Wall summit” on Friday to welcome their marginal candidates to conference to talk tactics.

“We are key to getting the Tories out,” said a senior party source. “We want to capitalise on that – focusing on the seats where we came second in the Blue Wall.

“And we will talk a lot about the Blue Wall at conference, as well as showing off our rising stars in the party that are running in those seats.”

One person hoping to benefit from that election machine is Josh Babarinde, the Lib Dem prospective parliamentary candidate for Eastbourne.

“We run on volunteers, so what is exciting about this conference is getting together our army of activists, who don’t have masses of billionaire donors propping them up, and firing them up,” he said.

“The momentum is building and building and building. We had a bruising result in Eastbourne in the 2019 election, now people are coming into the office wanting to take to the streets and campaign for the election. The country hasn’t seen anything yet.”

The Lib Dems are determined to smash through the 'Blue Wall'
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The Lib Dems are determined to smash through the ‘Blue Wall’

But all this “optimism” and “excitement” appears to have its limits.

Just over 10 years ago, the Lib Dems were the kingmakers, the party who decided the next prime minister and secured themselves senior positions at the top of government.

Yet, ask MPs, strategists or members if they are aiming for power again and every answer is either a deflection or laced with trepidation.

“Ed feels strongly that so many leaders in the past got distracted by thinking about [government] without thinking about winning those seats,” said a source close to the leader.

“It creates an atmosphere of anticipation and then we don’t focus and don’t try to win seats.”

The party has already ruled out going into coalition with the Conservatives again – a decision that saw the party collapse electorally at the 2015 election and put off many of the voters that their former leader, Sir Nick Clegg, recruited.

But they have remained more open and ambiguous regarding any deal with Sir Keir Starmer’s Labour.

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Starmer refuses to rule out Lib Dem deal

“Ed fears if we start to talk about coalition, it looks as though we are taking those voters we are trying to win over for granted,” adds the source.

“We want to focus on being local champions fighting for local services.

“And remember, we won 11 seats at the last general election. There is nothing for us to be arrogant about.”

As members start to gather on the south coast, a statement from deputy leader Daisy Cooper tells them this conference will “fire the starting pistol” on the next election campaign and get activists ready for the fight.

“Our horizons are broader than when we went in for the Chesham and Amersham by-election (the first of the Lib Dem wins in this parliament),” said the source close to Sir Ed.

“Journalists laughed at me when I said we could win that seat, now they laugh at me if I say we might not win Mid Beds (the safe Tory seat left empty by the exit of Nadine Dorries).”

But while this conference is set to be one of the most positive gatherings for the Lib Dems in years, there is still a mountain to climb to get the numbers in parliament to make an impact – and a residual fear around what doing well at the next election may mean for the party’s future.

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‘Will the PM side with parents or tech bros?’: Labour peer demands action on children’s smartphone safety

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'Will the PM side with parents or tech bros?': Labour peer demands action on children's smartphone safety

Sir Keir Starmer needs to choose between parents who want stronger action to tackle harmful content on children’s phones, or the “tech bros” who are resisting changes to their platforms, Baroness Harriet Harman has said.

Speaking to Beth Rigby on Sky News’ Electoral Dysfunction podcast, the Labour peer noted that the prime minister met with the creators of hit Netflix drama Adolescence to discuss safety on social media, but she questioned if he is going to take action to “stop the tech companies allowing this sort of stuff” on their platforms where children can access it.

Sir Keir hosted a roundtable on Monday with Adolescence co-writer Jack Thorne and producer Jo Johnson to discuss issues raised in the series, which centres on a 13-year-old boy arrested for the murder of a young girl, and the rise of incel culture.

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The aim was to discuss how to prevent young boys being dragged into a “whirlpool of hatred and misogyny”, and the prime minister said the four-part series raises questions about how to keep young people safe from technology.

Sir Keir has backed calls for the four-part drama to be shown in all schools across the country, but Baroness Harman questioned what is going to be achieved by having young people simply watch the show.

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Sir Keir Starmer held a roundtable with the creators of the Adolescence TV drama.

“Two questions were raised [for me],” she said. ” Firstly – after they’ve watched it, what is going to be the discussion afterwards?

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“And secondly, is he going to act to stop the tech companies allowing this sort of stuff to go online into smartphones without protection of children?

“Because if the tech companies wanted to do this, they could actually protect children. They can do everything they want with their tech.”

She acknowledged there are “very big public policy challenges” in this area, but added of the prime minister: “Is he going to side with parents who are terrified and want this content off their children’s phones, or is he going to accept the tech bros’ resistance to having to make changes?”

Harriet Harman said the government should impose time limits on inquiries
Image:
Baroness Harriet Harman

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Can parliament keep up?

The Labour peer backed the Conservative Party’s call for a ban on smartphones in schools to be mandated from Westminster, saying it would “enable all schools not to have a discussion with their parents or to battle it out, but just to say, this is the ruling” from central government, which Ofsted would then enforce.

“I’m sensitive to the idea that we shouldn’t constantly be telling schools what to do,” she continued. “And they’ve got a lot of common sense and a lot of professional experience, and they should have as much autonomy as possible.

“But perhaps it’s easier for them if it’s done top down.”

Baroness Harman also questioned the speed with which parliament is actually able to legislate to deal with the very rapid development of new technologies, and posits that it could “change its processes to be able to legislate in real time”.

She suggested that a “powerful select committee” of MPs could be established to do that, because “otherwise we talk about it, and then we’re not able to legislate for 10 years – by which time that problem has really set in, and we’ve got a whole load more problems”.

On the podcast, the trio also discussed the 10% tariffs imposed on the UK by Donald Trump and the government’s efforts to strike a trade deal with the US to mitigate the impact of the levy.

The government has refused to rule out scrapping the Digital Services Tax, a 2% levy on tech giants’ revenues in the UK, as part of the negotiations with the Trump administration – a move Baroness Harman said would be “very heartbreaking”.

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Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

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Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

Bakkt investors file class-action lawsuit after loss of Webull, BoA contracts

A group of investors with cryptocurrency custody and trading firm Bakkt Holdings filed a class-action lawsuit alleging false or misleading statements and a failure to disclose certain information.

Lead plaintiff Guy Serge A. Franklin called for a jury trial as part of a complaint against Bakkt, senior adviser and former CEO Gavin Michael, CEO and president Andrew Main, and interim chief financial officer Karen Alexander, according to an April 2 filing in the US District Court for the Southern District of New York.

The group of investors allege damages as the result of violations of US securites laws and a lack of transparency surrounding its agreement with clients: Webull and Bank of America (BoA).

Law, Investments, United States, Bakkt

April 2 complaint against Bakkt and its executives. Source: PACER

The loss of Bank of America and Webull will result “in a 73% loss in top line revenue” due to the two firms making up a significant percentage of its services revenue, the investor group alleges in the lawsuit. The filing stated Webull made up 74% of Bakkt’s crypto services revenue through most of 2023 and 2024, and Bank of America made up 17% of its loyalty services revenue from January to September 2024.

Related: Bakkt names new co-CEO amid re-focus on crypto offerings

Bakkt disclosed on March 17 that Bank of America and Webull did not intend to renew their agreements with the firm ending in 2025. The announcement likely contributed to the company’s share price falling more than 27% in the following 24 hours. The investors allege Bakkt “misrepresented the stability and/or diversity of its crypto services revenue” and failed to disclose that this revenue was “substantially dependent” on Webull’s contract.

“As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages,” said the suit.

Other law offices said they were investigating Bakkt for securities law violations, suggesting additional class-action lawsuits may be in the works. Cointelegraph contacted Bakkt for a comment on the lawsuit but did not receive a response at the time of publication.

Prices affected by Trump Media reports

Bakkt’s share price surged roughly 162% in November 2024 after reports suggested that then-US President-elect Donald Trump’s media company was considering acquiring the firm. As of April 2025, neither company has officially announced a deal.

Shares in Bakkt (BKKT) were $8.15 at the time of publication, having fallen more than 36% in the previous 30 days.

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Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

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Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.

While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.

On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.

Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.

Tariffs compound existing mining challenges

Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.

Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.

According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Bitcoin hashprice since late 2013. Source: Bitbo

“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.

He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Source: Summer Meng

“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.

Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.

BTC mining firms to “lose in the short term”

Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.

“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Source: jmhorp

Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.

Related: Bitcoin mining using coal energy down 43% since 2011 — Report

“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.

As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.

Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.

Magazine: Bitcoin ATH sooner than expected? XRP may drop 40%, and more: Hodler’s Digest, March 23 – 29

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