Suella Braverman is ‘out of control’: Home Secretary sparks fresh row over ‘inflammatory’ newspaper article

Published

1 year ago

November 9, 2023

admin

Suella Braverman has been accused of being “out of control”, as she continued her war of words with the Metropolitan Police after the commissioner resisted government pressure to ban this week’s pro-Palestinian march.

In an article for The Times newspaper, the Home Secretary once again described pro-Palestinian protesters as “hate marchers”.

And she went even further, adding: “I do not believe that these marches are merely a cry for help for Gaza.

“They are an assertion of primacy by certain groups – particularly Islamists – of the kind we are more used to seeing in Northern Ireland.

“Also, disturbingly reminiscent of Ulster are the reports that some of Saturday’s march group organisers have links to terrorist groups, including Hamas.”

Israel-Gaza latest: ‘Security circumstance’ forces Rafah border crossing to close

This led one former Tory cabinet minister to message Sky’s Beth Rigby, saying: “This is wholly offensive and ignorant of where people in Northern Ireland stand on the issues of Israel and Gaza.

“It would be good to know what she knows about what NI people think about the current Israel-Palestine situation before she casts aspersions.

“It’s clear that the Home Secretary is only looking after her misguided aspirations for leader than responsible leadership as a Home Sec.”

In the article Ms Braverman also claimed a double standard exists within the Met.

“Right-wing and nationalist protesters who engage in aggression are rightly met with a stern response yet pro-Palestinian mobs displaying almost identical behaviour are largely ignored, even when clearly breaking the law?”

Calling for protests to be policed “even-handedly”, the home secretary also questioned why protests for Black Lives Matter were allowed to go ahead during the COVID pandemic, while “lockdown objectors were given no quarter by public order police”.

In words seeming to pile pressure onto commissioner Sir Mark Rowley, she concluded: “This weekend the public will expect to see an assertive and proactive approach to any displays of hate, breaches of conditions and general disorder.”

In response to Ms Braverman’s article, Yvette Cooper, the shadow home secretary, described her as “out of control”.

She wrote on X, formerly known as Twitter: “Her article tonight is a highly irresponsible, dangerous attempt to undermine respect for police at a sensitive time, to rip up operational independence and to inflame community tensions.

“No other home secretary of any party would ever do this.”

And London Mayor Sadiq Khan posted: “The Home Sec’s article in The Times is inaccurate, inflammatory & irresponsible.

“At a time when we should be seeking to unite communities – she is dividing them. The Home Sec should support the police to keep everyone safe at this delicate time, not make their job harder.”

And the Liberal Democrats have accused her of “running a Conservative Party leadership campaign, not the Home Office”.

Earlier on Wednesday, Prime Minister Rishi Sunak conceded that a pro-Palestinian march on Armistice Day will go ahead – but described the protest as “disrespectful”.

Following a face-to-face meeting with Sir Mark, he said the chief of the Metropolitan Police would be held accountable for his decision to greenlight the demonstration.

He said in a statement: “Saturday’s planned protest is not just disrespectful but offends our heartfelt gratitude to the memory of those who gave so much so that we may live in freedom and peace today.

“But part of that freedom is the right to peacefully protest. And the test of that freedom is whether our commitment to it can survive the discomfort and frustration of those who seek to use it, even if we disagree with them. We will meet that test and remain true to our principles.”

Labour leader Sir Keir Starmer had accused Mr Sunak of “cowardice” for “picking a fight” with the police.

He tweeted: “Remembrance events must be respected. Full stop.

“But the person the PM needs to hold accountable is his home secretary. Picking a fight with the police instead of working with them is cowardice.”

Downing Street denied seeking to put pressure on the Met, which is operationally independent, and insisted the meeting was about “seeking assurances” that their approach is “robust”.

Tens of thousands have demonstrated in London in recent weeks over Palestinian deaths in the Israel-Hamas war – with 29 arrested during a fourth week of protests last Saturday, during which fireworks were thrown.

Organisers of this Saturday’s protest say it will be “well away” from the Cenotaph – going from Hyde Park, around a mile from the war memorial in Whitehall, to the US embassy – and won’t start until after the 11am silence.

Politics

Stablecoins are the best way to ensure US dollar dominance — Web3 CEO

Published

12 hours ago

April 6, 2025

admin

Stablecoins are the best way to ensure US dollar dominance — Web3 CEO

Stablecoins are the single best tool for the United States government to maintain the US dollar’s hegemony in global financial markets, according to LayerZero Labs CEO and founder Bryan Pellegrino.

In an interview with Cointelegraph, the CEO of LayerZero Labs, which created the LayerZero interoperability protocol recently chosen by Wyoming to be the distribution partner for the Wyoming stablecoin, said that the cross-border accessibility of dollar-pegged tokens makes them an obvious choice to drive US dollar demand. Pellegrino added:

“Stablecoins for the US dollar are the single best tool — the last Trojan Horse or vampire attack on every single other currency in the world — whether it is Argentina, whether it is Venezuela, whether it is all of the countries that have massive inflation.”

The CEO said he expects support for stablecoins on both the federal and state levels to grow because of the obvious boost stablecoins give to the US dollar in foreign exchange markets and the financial moat stablecoin-driven demand will create around the US dollar’s global reserve currency status.

Dollar, US Government, Stablecoin — *Stablecoin market overview. Source:* *RWA.XYZ*

US government looks to stablecoins to protect US dollar

Pellegrino cited Tether’s emerging role as one of the largest buyers of US Treasury bills in the world as evidence of the demand for US debt instruments from stablecoin issuers.

Tether recently became the seventh-largest holder of US Treasuries, beating out Canada, Germany, Norway, Hong Kong, and Saudi Arabia.

Speaking at the White House Crypto Summit on March 7, US Treasury Secretary Scott Bessent said the Trump administration would leverage stablecoins to extend US dollar hegemony and indicated this would be a top priority for officials in 2025.

According to a 2023 report from Chainalysis, over 50% of all the digital asset value transferred to countries in the Latin American region, including Argentina, Brazil, Columbia, Mexico, and Venezuela was denominated in stablecoins.

The low transaction fees, relative stability, and near-instant settlement times for dollar-pegged stablecoins make these real-world tokenized assets ideal for remittances and stores of value for residents in developing countries suffering from high inflation and capital controls.

Magazine: Bitcoin payments are being undermined by centralized stablecoins

Politics

CFPB likely to step back from crypto regulation — Attorney

Published

14 hours ago

April 6, 2025

admin

CFPB likely to step back from crypto regulation — Attorney

The Consumer Financial Protection Bureau (CFPB) will likely see a reduced role in crypto regulations as other federal agencies like the Securities and Exchange Commission (SEC) and state-level regulators assume a bigger role in crypto policy, according to Ethan Ostroff, partner at the Troutman Pepper Locke law firm.

“I think with the current administration, my sense is, we are highly likely to see a significant pullback by the CFPB in the context of the activity by other regulators,” Ostroff told Cointelegraph in an interview.

State regulators also have the authority under the Consumer Financial Protection Act (CFPA) to assume some of the regulatory roles of the CFPB, the attorney said but also added that some regulatory functions will continue to fall within the purview of the CFPB as a matter of established law.

Ostroff cited the New York Department of Financial Services (NYDFS) and the California Department of Financial Protection and Innovation (DFPI) as regulators to keep an eye on as potential leaders of crypto regulations at the state level.

However, the attorney clarified that while the CFPB may see a diminished role during the Trump administration, the agency would not be outright dismantled during the current regime due to “statutorily mandated obligations and requirements” that require acts of Congress to change.

Trump administration targets CFPB in efficiency push

The Trump administration targeted the CFPB as part of a broader push by the Department of Government Efficiency (DOGE) to slash government spending and reduce the federal debt.

Russell Vought, the recently appointed head of the CFPB, announced major funding cuts to the agency and scaled back operations within days of assuming the helm at the CFPB in February 2025.

Bitcoin Regulation, US Government, United States, Donald Trump — *Source:* *Russell Vought*

Massachusetts Senator Elizabeth Warren criticized Elon Musk for dismantling the CFPB, which the US senator co-founded back in 2007.

Warren characterized Musk as a “bank robber” and claimed that the Trump administration dismantled the CFPB to undo consumer protection rules and have greater control over the financial system.

In a February 12 interview with Mother Jones, the senator stressed that the Executive Branch of government does not have the statutory authority to fully dismantle the CFPB, which can only be done through Congressional approval.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered

Politics

Nearly 400,000 FTX users risk losing $2.5 billion in repayments

Published

21 hours ago

April 6, 2025

admin

Nearly 400,000 FTX users risk losing .5 billion in repayments

Nearly 400,000 creditors of the bankrupt cryptocurrency exchange FTX risk missing out on $2.5 billion in repayments after failing to begin the mandatory Know Your Customer (KYC) verification process.

Roughly 392,000 FTX creditors have failed to complete or at least take the first steps of the mandatory Know Your Customer verification, according to an April 2 court filing in the US Bankruptcy Court for the District of Delaware.

FTX users originally had until March 3 to begin the verification process to collect their claims.

“If a holder of a claim listed on Schedule 1 attached thereto did not commence the KYC submission process with respect to such claim on or prior to March 3, 2025, at 4:00 pm (ET) (the “KYC Commencing Deadline”), 2 such claim shall be disallowed and expunged in its entirety,” the filing states.

Nearly 400,000 FTX users risk losing $2.5 billion in repayments — *FTX court filing. Source:* *Bloomberglaw.com*

The KYC deadline has been extended to June 1, 2025, giving users another chance to verify their identity and claim eligibility. Those who fail to meet the new deadline may have their claims permanently disqualified.

According to the court documents, claims under $50,000 could account for roughly $655 million in disallowed repayments, while claims over $50,000 could amount to $1.9 billion — bringing the total at-risk funds to more than $2.5 billion.

The next round of FTX creditor repayments is set for May 30, 2025, with over $11 billion expected to be repaid to creditors with claims of over $50,000.

Under FTX’s recovery plan, 98% of creditors are expected to receive at least 118% of their original claim value in cash.

How FTX users can complete KYC

Many FTX users have reported problems with the KYC process.

However, users who were unable to submit their KYC documentation can resubmit their application and restart the verification process, according to an April 5 X post from Sunil, FTX creditor and Customer Ad-Hoc Committee member.

Impacted users should email FTX support (support@ftx.com) to receive a ticket number, then log in to the support portal, create an account, and re-upload the necessary KYC documents.

FTX’s Bahamian subsidiary, FTX Digital Markets, processed the first round of repayments in February, distributing $1.2 billion to creditors.

The crypto industry is still recovering from the collapse of FTX and more than 130 subsidiaries launched a series of insolvencies that led to the industry’s longest-ever crypto winter, which saw Bitcoin’s (BTC) price bottom out at around $16,000.

While not a “market-moving catalyst” in itself, the beginning of the FTX repayments is a positive sign for the maturation of the crypto industry, which may see a “significant portion” reinvested into cryptocurrencies, Alvin Kan, chief operating officer at Bitget Wallet, told Cointelegraph.