Israel-Hamas war: Border Force teams set up in Egypt to help citizens – if they can leave Gaza

Published

1 year ago

October 27, 2023

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Border Force teams are “prepared and ready” to evacuate British citizens trapped in Gaza.

Prime Minister Rishi Sunak said on Thursday border officials are pre-positioned in Egypt so that if the Rafah border crossing opens, “we’re ready to get them in and bring them back”.

Gillian Keegan, the Education Secretary, told Sky News on Friday morning this still needs to be negotiated but the border force teams were there “in preparation”.

She said: “We’ve been in intense discussions with partners in the region, but we want the Border Force to be there to be prepared and ready if and when we can get the hostages out.

“So it’s preparation so that we can be there, so we’ve got everything available if we can get them out.

“But right now we still need to agree that and it still needs to be facilitated.”

‘Calling for a pause’

Asked if she was optimistic the Rafah Crossing could open, she said: “We’re still in the same position, we’re calling for a pause to allow for humanitarian aid in and we’re calling for the safe passage for British national passport holders to get out.”

Mr Sunak said he was pushing for a pause in the fighting between Israel and Hamas to allow aid to reach Palestinians and also create a “safer environment” for UK citizens to leave the bombarded 25-mile strip.

“It is not something we can do immediately but when the moment arises, we’ll be ready to take it quickly,” he said during an event in central London about artificial intelligence.

The Rafah crossing between Egypt and Gaza is the only border point in the territory not controlled by Israel.

Israel has only in recent days agreed to allow aid into Gaza through the crossing, having besieged the Hamas-ruled area to prevent essentials such as water, food and fuel from reaching more than two million Palestinians.

The border crossing into north-east Egypt is likely to be the main exit route for those trapped in Gaza but it is currently closed other than for the aid deliveries – with Cairo reportedly blaming Israeli bombings around the area for it not being open for foreign nationals to pass through.

Backing ceasefire could ‘cross a line’

The government is calling for “humanitarian pauses” in the fighting but has stopped short of backing a ceasefire.

Asked about the difference, Ms Keegan said this morning that “we don’t want to cross that line” of telling Israel it has “anything but the right to defend itself”.

Labour has backed this position despite dozens of its MPs calling for a ceasefire.

Shadow environment secretary Steve Reed has said he understands and empathises with Labour colleagues who disagree with the party’s stance.

However he told Sky News that if the attack Israel suffered had happened in the UK, “our state would have sought to defend ourselves to protect our citizens by dismantling the capability of a terrorist organisation that carried it out, that applies to Israel too, they have the right under international law to do that.”

Israel is conducting air strikes and raids on Gaza in its fightback against Hamas’s assault on October 7 that saw at least 1,400 people, mainly civilians, killed on Israeli soil and hundreds of people taken hostage.

Fewer than five Britons are believed to be among the hostages as officials fear that some of those missing have been killed.

However many more, including the parents-in-law of Scottish First Minister Humza Yousaf, are trapped in the territory.

Welfare benefits ‘without delay’

As well as stationing border force officials in Egypt, the government has also announced that British citizens fleeing the conflict will be exempt from residency tests and able to get easier access to benefits and other services after arriving in the UK.

Those fleeing the war in the wider region of Lebanon and the West Bank will also be able to claim universal credit, as well as disability and child benefits, “without delay”, and access social housing and housing assistance if needed.

The government said it would also ensure that money paid under the victims of overseas terrorism compensation scheme would not be counted when working out entitlement to income-related benefits.

Work and Pensions Secretary Mel Stride said: “We’ve been working quickly to ensure British nationals arriving from Israel, the Occupied Palestinian Territories and Lebanon can receive the support and security they need during a time of unspeakable turmoil.

“As the UK continues to step up its response to the fast-moving circumstances in the region, the regulations which come into force today will speed up access to benefits, ensuring those eligible can access the help they need.”

The government said that where arrivals do not have immediate accommodation available, local authorities may provide emergency overnight accommodation before supporting people into more secure accommodation.

Those who meet the exemption will be supported more quickly but it will not impact who local housing authorities should prioritise for social housing, the government said.

Politics

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

Published

2 hours ago

April 4, 2025

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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.

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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Politics

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Published

9 hours ago

April 4, 2025

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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.

“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.

“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.

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.

“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

Politics

Malta regulator fines OKX crypto exchange $1.2M for past AML breaches

Published

9 hours ago

April 4, 2025

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Malta regulator fines OKX crypto exchange .2M for past AML breaches

Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.

Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.

While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.

OKX was among the first crypto exchanges to receive a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation via its Malta hub in January 2025.

The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.

Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.

This is a developing story, and further information will be added as it becomes available.

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