Sue Gray’s baptism of fire trying to fix Keir Starmer’s ceasefire crisis

Published

1 year ago

November 4, 2023

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When Sir Keir Starmer appointed Sue Gray as his chief of staff, he said her “unrivalled experience” in Whitehall would help get Labour ready to form a “mission-led” government.

But nearly two months into the job, as the scale of discontent around his positioning on the Israel-Hamas war has grown, the top civil servant has found herself plunged instead into the heart of an emotionally charged internal party rift.

Insiders say she has been seen comforting MPs and staff “in tears” over the unfolding drama and the backlash they have received from constituents, with one Labour source telling Sky News she had “literally been putting her arms around people”.

Sir Keir’s refusal to call for an outright ceasefire, and an interview with LBC which led to him clarifying remarks he made about Israel’s decision to limit supplies to Gaza, has prompted outrage in Muslim communities and beyond.

Those who have watched her operate up close say Ms Gray has been adding a “human element” to the party’s approach – which some critics have described as previously being “a bit macho”.

“She’s been providing so much of what has been missing. She’s breaking up the boys’ club.”

Like Labour leaders before him, Sir Keir inherited a party split along left and right when he replaced Jeremy Corbyn following the 2019 election defeat.

He sought to manage the threat posed by the left by hiring aides who sought to minimise their influence – for example, by disciplining those who failed to toe the party line and by keeping a tight control over parliamentary selections.

That approach, spearheaded by Ms Gray’s predecessor Morgan McSweeney, has been seen as successful – if unpopular with some.

But some Labour sources suggest the situation in which Sir Keir now finds himself has exposed the vulnerabilities that remain in the party – that the leader of the opposition’s office (LOTO) is functioning more as a campaign machine distracted by “factionalism” than a party of government.

Instead of engaging with MPs, some of the Labour leader’s aides are seen as having a dismissive attitude towards them.

“The ‘boys’ in LOTO basically think that MPs aren’t important,” one source said. “They think that everything happens in HQ.

“We’re in a different phase of the Labour Party and they are not recognising that. The Corbyn war is over and they now need to engage with MPs.”

By contrast, some sources have praised Ms Gray for taking a more “conciliatory” approach that looks to bring people into the conversation rather than exclude them.

“Sue doesn’t have the baggage of years of Labour infighting,” the source explained. “She has come in with a fresh pair of eyes and a different attitude.

“I think people suspect she’s not really got any politics because she’s a former civil servant – but she’s got more politics and experience in her little finger than probably most of them put together.”

A Labour frontbencher agreed, telling Sky News: “She is a grown-up who wants us to function – for the country, not for the factions.”

Another party official said that while Ms Gray was more “approachable” and “communicative” with the shadow cabinet, Mr McSweeney “instantly understood” the implications of the Gaza row for MPs – dismissing suggestions to the contrary.

“He knows better than anyone the different constituencies of Labour support,” they added.

Politics and people

Ms Gray has been operating in Whitehall for decades, holding senior positions such as director general of propriety and ethics and second permanent secretary in the Cabinet Office.

But it was her investigation into partygate during the COVID pandemic that made her a household name and caught the eye of Sir Keir.

Alex Thomas, a programme director at the Institute for Government, who knows Ms Gray and has worked with her, told Sky News the people skills she picked up in the civil service would be useful in managing the current situation.

“It makes her well-equipped to advise and broker and understand where people are coming from in potentially hot and fractious environments and to play that peacemaker role,” he said.

What may have provided some training ground for Ms Gray is the 2006 war between Israel and Lebanon, which plunged Tony Blair into a crisis of his own. Ms Gray was serving in Whitehall at the time.

“It is likely her role would have been less about foreign policy and the diplomatic aspects and more about the ministerial side of things such as managing the domestic government fallout,” Mr Thomas said.

One senior union figure also agreed that decades of experience in Whitehall had led to her becoming a critical adviser to Sir Keir.

“Sue has dealt with some of the most sensitive issues in government,” they explained. “She’s advised prime ministers; she’s investigated prime ministers.

“Her job as a civil servant was to advise. She can’t dominate, she can’t enforce, she has to make people agree with her point of view by persuading them.”

Stepping on toes?

As well as managing tensions within the party, Sir Keir has also had to grapple with unhappy stakeholders, including metro mayors with whom relations have been strained over a number of policy issues.

One Labour insider accused Sir Keir’s office of having previously adopted a “brand of Millwall politics” – a reference to the club’s supporter’s chant: “No one likes us, we don’t care.”

They argue this alienated mayors and led to poor relations, whereas Ms Gray is said to be involving mayors in political discussions and ramping up day-to-day engagement.

“In a few short weeks Sue Gray has already started to repair many relationships, involving politicians in decision-making for the first time, bringing Angela [Rayner] closer and reaching out to the mayors and trying to mend bridges,” the insider said.

“Her conciliatory approach is winning her many fans.”

Another senior Labour source told Sky News: “Her style of leadership is inclusive. She’s a very impressive operator.

“She’s the first person in, she’s the last person to leave and she talks to everyone, even the most junior person in the room. She’s even tackled how some people treat the cleaners.”

But, they said, Ms Gray’s approach might mean she could “step on the toes” of those who have hitherto enjoyed unrivalled authority.

“Sue has asserted herself in the process of political decision-making but she won’t go unchallenged,” the senior source added.

“She’s like a new club manager who faces a dressing room clique with too much power, and she needs to break that if she’s going to deliver results.”

Politics

US Senator calls for Trump impeachment, cites memecoin dinner

Published

3 hours ago

April 26, 2025

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US Senator calls for Trump impeachment, cites memecoin dinner

United States Senator Jon Ossoff expressed support for impeaching President Donald Trump during an April 25 town hall, citing the President’s plan to host a private dinner for top Official Trump memecoin holders.

“I mean, I saw just 48 hours ago, he is granting audiences to people who buy his meme coin,” said Ossoff, a Democrat, according to a report by NBC News.

“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.”

Senator Ossoff said he “strongly” supports impeachment proceedings during a town hall in the state of Georgia, where he is running for reelection to the Senate.

The Senator added that an impeachment is unlikely unless the Democratic Party gains control of Congress during the US midterm elections in 2026. Trump’s own Republican Party currently has a majority in both the House of Representatives and the Senate.

Conflicts of interest

On April 23, the Official Trump (TRUMP) memecoin’s website announced plans for Trump to host an exclusive dinner at his Washington, DC golf club with the top 220 TRUMP holders.

The website subsequently posted a leaderboard tracking top TRUMP wallets and a link to register for the event. The TRUMP token’s price has gained more than 50% since the announcement, according to data from CoinMarketCap.

The specific guest list is unclear, but the memecoin’s website states that applicants must pass a background check, “can not be from a [Know Your Customer] watchlist country,” and cannot bring any additional guests.

On April 25, the team behind TRUMP denied social media rumors that TRUMP holders need at least $300,000 to participate in an upcoming dinner with the president.

“People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote.

Law, Politics, Senate, Donald Trump, trumpcoin, Memecoin — *The TRUMP token jumped on news of the private dinner plans. Source:* *CoinMarketCap*

Legal experts told Cointelegraph that Trump’s cryptocurrency ventures, including the TRUMP memecoin and Trump-affiliated decentralized finance (DeFi) protocol World Liberty Financial, raise significant concerns about potential conflicts of interest.

“Within just a couple of days of him taking office, he’s signed a number of executive orders that are significantly going to affect the way that our crypto and digital assets industry works,” Charlyn Ho of law firm Rikka told Cointelegraph in February.

“So if he has a personal pecuniary benefit arising from his own policies, that’s a conflict of interest.”

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

Politics

Crypto sentiment recovers, but weekend liquidity risks remain

Published

5 hours ago

April 26, 2025

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Crypto sentiment recovers, but weekend liquidity risks remain

Crypto investor sentiment has seen a significant recovery from global tariff concerns, but analysts warn that the market’s structural weaknesses may still result in downside momentum during periods of weekend illiquidity.

Risk appetite appeared to return among crypto investors this week after US President Donald Trump adopted a softer tone, saying that import tariffs on Chinese goods may “come down substantially.”

However, the improved investor sentiment “does not guarantee that Bitcoin will avoid volatility over the weekend,” analysts from Bitfinex exchange told Cointelegraph:

“Sentiment improvements reduce fragility, but they do not eliminate structural risks like thin weekend liquidity.”

“Historically, weekends remain vulnerable to sharp moves — especially when open interest is high and market depth is low,” the analysts said, adding that unexpected macroeconomic news can still increase volatility during low liquidity periods.

Bitcoin (BTC) staged a near 11% recovery during the past week, but its rally has previously been limited by Sunday liquidity dynamics.

Bitcoin fell below $75,000 on Sunday, April 6, despite initially decoupling from the US stock market’s $3.5 trillion drop on April 4 after US Federal Reserve Chair Jerome Powell warned that Trump’s tariffs may affect the economy and raise inflation.

The correction was exacerbated by the lack of weekend liquidity and the fact that Bitcoin was the only large liquid asset available for de-risking, industry watchers told Cointelegraph.

“While improved sentiment creates a more stable foundation, cryptocurrency markets are still susceptible to rapid movements during periods of reduced trading volume,” according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone blockchain oracle firm.

“The sentiment recovery provides some cushioning, but traders should remain cautious as weekend liquidity constraints can still amplify price movements regardless of the current market mood,” he told Cointelegraph.

Crypto investors may have “maxed out on tariff-related fears”

Cryptocurrency markets may have priced in the full extent of tariff-related concerns, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.

“It feels like we’ve maxed out on tariff-related fear,” she told Cointelegraph, adding:

“While many remain uncertain about where things are headed over the next month or so, it also seems like markets were just waiting for the slightest signal that we’re back in the game.”

“Whether the rally is sustainable depends on whether we can break through previous resistance levels, at least in isolation. It could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar and US Treasurys,” Barthere added, warning of more potential volatility amid the upcoming negotiations.

Nansen previously predicted a 70% chance that crypto markets will bottom and start a recovery by June, but highlighted that the timing will depend on the outcome of tariff negotiations.

The tariff negotiations may only be “posturing” for the US to reach a trade agreement with China, which may be the “big prize” for Trump’s administration, according to Raoul Pal, founder and CEO of Global Macro Investor.

Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

Politics

Deloitte predicts $4T tokenized real estate on blockchain by 2035

Published

9 hours ago

April 26, 2025

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Deloitte predicts T tokenized real estate on blockchain by 2035

Over $4 trillion worth of real estate could be tokenized on blockchain networks during the next decade, potentially offering investors greater access to property ownership opportunities, according to a new report.

The Deloitte Center for Financial Services predicts that over $4 trillion worth of real estate may be tokenized by 2035, up from less than $300 billion in 2024. The report, published April 24, estimates a compound annual growth rate (CAGR) of more than 27%.

The $4 trillion of tokenized property is predicted to stem from the benefits of blockchain-based assets, as well as a structural shift across real estate and property ownership.

Deloitte predicts $4T tokenized real estate on blockchain by 2035 — *Global tokenized real estate value, growth predictions. Source: Deloitte*

“Real estate itself is undergoing transformation. Post-pandemic work-from-home trends, climate risk, and digitization have reshaped property fundamentals,” according to Chris Yin, co-founder of Plume Network, a blockchain built for real-world assets (RWAs).

“Office buildings are being repurposed into AI data centers, logistics hubs and energy-efficient residential communities,” Yin told Cointelegraph.

“Investors want targeted access to these modern use cases, and tokenization enables programmable, customizable exposure to such evolving asset profiles,” he said.

The uncertainty triggered by US President Donald Trump’s import tariffs has boosted investor interest in the RWA tokenization sector, which involves minting financial products and tangible assets on a blockchain.

Both stablecoins and RWAs have attracted significant capital as safe-haven assets amid the global trade concerns, Juan Pellicer, senior research analyst at IntoTheBlock, told Cointelegraph.

The tariff concerns also led tokenized gold volume to surpass $1 billion in trading volume on April 10, its highest level since March 2023 when a US banking crisis saw the sudden collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank

Blockchain innovation could drive regulatory clarity

Growing RWA adoption may inspire a more welcoming stance from global regulators, Yin said.

“While regulation is a hurdle, regulation follows usage,” he explained, likening tokenization to Uber’s growth before widespread regulatory acceptance:

“Tokenization is similar — as demand increases, regulatory clarity will follow.”

He added that making tokenized products compliant with a wide range of international regulations is key to unlocking broader market access.

However, some industry watchers are skeptical about the benefits introduced by tokenized real estate.

“I don’t think tokenization should have its eyes directly set on real estate,” said Securitize chief operating officer Michael Sonnenshein at Paris Blockchain Week 2025.

“I’m sure there are all kinds of efficiencies that can be unlocked using blockchain technology to eliminate middlemen, escrow, and all kinds of things in real estate. But I think today, what the onchain economy is demanding are more liquid assets,” he added.