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Boris Johnson and his former adviser Dominic Cummings sent “disgusting and misogynistic” WhatsApp messages that will be released by the COVID inquiry next week, George Osborne has claimed.

The former Tory chancellor said he understands that some “pretty astonishing and frankly, shocking” messages will be made public when Mr Cummings gives evidence at the hearings at the end of the month.

Speaking on the Political Currency podcast, Mr Osborne said the messages “will show people just what a complete nightmare it was” to work in Downing Street during the pandemic and “potentially some things that are going to cause some real problems for individuals who were in charge at the time”.

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Pressed for details by his co-host Ed Balls, he said he had to “be careful here because it’s a judicial inquiry”.

But he added: “From what I understand, there are some pretty staggering things that have been said on those WhatsApp messages by not just by Boris Johnson, but key advisers like Dominic Cummings, really, pretty disgusting language and misogynistic language.

“But I think that’s all I can say because I’ve already appeared once before the COVID inquiry and I don’t want to appear again before it.”

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Mr Johnson and Mr Cummings have not commented on the claims.

A string of embarrassing messages have already been released to the inquiry, including how Mr Johnson described long COVID as “b*******” and that his wife, Carrie, had been described as “the real person in charge” by the head of the UK’s civil service.

Mr Cummings has said he is due to give evidence on October 31.

He was Mr Johnson’s closest aide when the pandemic hit, and the government was forced to defend him after he drove to County Durham beauty spot Barnard Castle during the first lockdown.

He left Downing Street in November 2020 following infighting in No 10 and has since become a fierce critic of the former prime minister, suggesting he was indecisive in the response to coronavirus.

The COVID inquiry began this summer and has so far heard evidence from Mr Osborne and ex-prime minister David Cameron – who were grilled on the impact of their austerity programme on the NHS and its ability to plan for a pandemic.

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George Osborne tells the COVID inquiry that there was no planning for a lockdown and that ‘with hindsight’ more could have been done to budget for one.

The first part of the inquiry looked at the UK’s resilience and preparedness for a pandemic while the second part, which started this month, focuses on “core decision making and political governance” and will also see Mr Johnson give evidence.

As part of the inquiry, key decision makers – including ministers, former ministers and senior civil servants – have been asked to disclose communications, including those through informal channels such as WhatsApp, Microsoft Teams or Signal.

Separately, it emerged this week that the “majority” of WhatsApp messages shared among Scottish Government officials during the pandemic may have been deleted.

Jamie Dawson KC – the lead counsel in the Scotland module of the inquiry – told the hearing on Thursday that “although WhatsApps appear to have been used to send messages relating to and surrounding key decisions by some members of Scottish Government, the majority of the messages have not been retained by witnesses”.

Mr Dawson went on to say there is a “lack of certainty” around what materials are held by the government and its officials, where it is held, and what can be recovered, and the inquiry has sought more information about the circumstances in which the messages were not retained.

The UK government was taken to court after it refused to hand over Mr Johnson’s messages to the inquiry, stating the messages were irrelevant.

However, the high court ruled against the cabinet office, stating it was up to Baroness Hallett, the chair of the inquiry, to decide whether the material was relevant or not.

Lady Hallett has said she is “very concerned about the difficulties” in obtaining the messages from the Scottish government, and she “will not hesitate” to use “statutory powers” at her disposal to obtain the relevant information.

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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.

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

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

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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