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Suella Braverman has accused Rishi Sunak of “betraying” a secret deal they made to secure her backing during the Tory leadership contest that paved the way for him to become prime minister.

In a scathing departure letter a day after she was sacked as home secretary, the right-wing MP launched a blistering personal attack on her old boss, saying he had “manifestly and repeatedly failed to deliver” on key policies.

Politics Live: Braverman launches scathing attack on Sunak – in letter that ‘signals’ her plan now

In the three-page broadside, in which she branded Mr Sunak “weak, uncertain and lacking in leadership qualities”, she claimed she agreed to serve in Mr Sunak’s cabinet on “certain conditions” after Liz Truss’s premiership imploded.

She said this included commitments from the prime minister to reduce net migration and legislate against the European Convention on Human Rights (ECHR) in order to deliver on the Rwanda deportation plan.

However, she claimed that despite sending “numerous letters on the key subjects contained in our agreement”, as well as making requests to discuss them and working up legal and policy advice, “this was often met with equivocation, disregard and a lack of interest”.

“You have manifestly and repeatedly failed to deliver on every single one of these key policies,” she said.

“Either your distinctive style of government means you are incapable of doing so. Or, as I must surely conclude now, you never had any intention of keeping your promises.”

Ms Braverman was sacked as home secretary during the prime minister’s reshuffle on Monday and was replaced by former foreign secretary James Cleverly.

The move has angered some on the Tory right, with David Cameron’s return to the frontbench to fill Mr Cleverly’s old position seen as a pivot to the centre ground.

In the lengthy letter, Ms Braverman told Mr Sunak he had “no personal mandate” to lead the UK after losing the 2022 Conservative leadership contest to Ms Truss.

She said her support for him was “pivotal” in him being installed as Tory leader six weeks later, and came on the basis of his “firm assurances” he would prioritise certain policy issues.

As well as stopping the boats, she said the commitments centred around delivering key pieces of Brexit legislation and providing “unequivocal” guidance to schools on protecting biological sex and safeguarding single-sex spaces.

She said: “These are not just pet interests of mine. They are what we promised the British people in our 2019 manifesto which led to a landslide victory. They are what people voted for in the 2016 Brexit Referendum.

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Braverman’s controversial career

“Our deal was no mere promise over dinner, to be discarded when convenient and denied when challenged.”

Small boats ‘betrayal’

In particular, Ms Braverman said Mr Sunak had not lived up to his promise to do “whatever it takes” to stop small boat crossings by failing to override human rights concerns about the delayed Rwanda deportation policy.

The plan to send refugees to the east African nation has been stalled for 18 months due to a series of legal challenges, with some Conservative MPs calling for the government to leave the ECHR in order to enact it.

Ms Braverman called Mr Sunak’s rejection of this idea “not merely a betrayal of our agreement, but a betrayal of your promise to the nation that you would do ‘whatever it takes’ to stop the boats”.

She accused the prime minister of “magical thinking – believing that you can will your way through this without upsetting polite opinion” and of failing to prepare a plan B should the Supreme Court rule against the policy when it delivers a key verdict on its lawfulness on Wednesday.

Read More:
Braverman’s letter to Sunak in full

What’s next for the Tory party’s most divisive politician

Mr Sunak sacked Mrs Braverman over the phone on Monday morning, clearing the way for a high-risk reshuffle aimed at reviving his faltering premiership.

She was purged after writing an unauthorised article in The Times which accused the Met Police of left-wing bias to pro-Palestinian protesters who have been marching for a ceasefire in Gaza. It was the latest in a series of inflammatory comments that was starting to rile members of her own party, including saying that rough sleeping was a “lifestyle choice”.

In her letter, Ms Braverman admitted she may “not have always found the right words” but said she wrote the article out of “frustration” that Mr Sunak would not ban the marches, calling him “uncertain, weak and lacking in the qualities of leadership that this country needs”.

She finished her attack by urging Mr Sunak to “change course urgently”.

She said: “Someone needs to be honest: your plan is not working, we have endured record election defeats, your resets have failed and we are running out of time. You need to change course urgently.”

And in a sign she will champion causes cherished by the party’s right on the backbenches – possibly with a view to her own leadership ambitions – she said: “I will, of course, continue to support the government in pursuit of policies which align with an authentic conservative agenda.”

‘Conservative soap opera’

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Suella’s letter is ‘latest Tory psychodrama’

In response, a Number 10 spokesperson said the prime minister was “proud to appoint a strong, united team” in his reshuffle and thanked Ms Braverman for her service.

They added Mr Sunak was still committed to stopping small boats, regardless of the outcome of Wednesday’s court decision.

“The prime minister believes in actions not words,” they said. “He is proud that this government has brought forward the toughest legislation to tackle illegal migration this country has seen and has subsequently reduced the number of boat crossings by a third this year. And whatever the outcome of the Supreme Court tomorrow, he will continue that work.”

But opposition MPs have seized on the attack as an example of “yet more Conservative chaos”.

Liberal Democrat home affairs spokesman Alistair Carmichael said: “Suella Braverman failed at every task at hand as home secretary and now she seems determined to drag everyone else down with her.

“While people struggle to see their GP or pay their mortgages, this government is too busy dealing with their own infighting. When will this Conservative Party soap opera end?”

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CFPB likely to step back from crypto regulation — Attorney

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CFPB likely to step back from crypto regulation — Attorney

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.

Related: Elon Musk’s ‘government efficiency’ team turns its sights to SEC — Report

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

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

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

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.

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

FTX court filing, estimated claims. Source: Sunil

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.

Related: FTX liquidated $1.5B in 3AC assets 2 weeks before hedge fund’s collapse

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.

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

FTX KYC portal. Source: Sunil

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.

Related: Crypto trader turns $2K PEPE into $43M, sells for $10M profit

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.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

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Sir Keir Starmer pledges to protect UK companies from Trump tariff ‘storm’

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Sir Keir Starmer pledges to protect UK companies from Trump tariff 'storm'

Sir Keir Starmer has said his government stands ready to use industrial policy to “shelter British business from the storm” after Donald Trump’s new 10% tariff kicked in.

The UK was among a number of countries hit with the lowest import duty rate following the president’s announcement on 2 April – which he called ‘Liberation Day’, while other nations, such as Vietnam, Cambodia and China face much higher US levies.

But a global trade war will hurt the UK’s open economy.

The prime minister said “these new times demand a new mentality”, after the 10% tax on British imports into America came into force on Saturday. A 25% US levy on all foreign car imports was introduced on Thursday.

It comes as Jaguar Land Rover announced it would “pause” shipments to the US for a month, as firms grapple with the new taxes.

On Saturday, the car manufacturer said it was working to “address the new trading terms” and was looking to “develop our mid to longer-term plans”.

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Jobs fears as Jaguar halts shipments

Referring to the tariffs, Sir Keir said “the immediate priority is to keep calm and fight for the best deal”.

Writing in The Sunday Telegraph, he said that in the coming days “we will turbocharge plans that will improve our domestic competitiveness”, adding: “We stand ready to use industrial policy to help shelter British business from the storm.”

It is believed a number of announcements could be made soon as ministers look to encourage growth.

NI contribution rate for employers goes up

From Sunday, the rate of employer NICs (national insurance contributions) increased from 13.8% to 15%.

At the same time, firms will also pay more because the government lowered the salary threshold at which companies start paying NICs from £9,100 to £5,000.

Also, the FTSE 100 of leading UK companies had its worst day of trading since the start of the pandemic on Friday, with banks among some of the firms to suffer the sharpest losses.

Sir Keir said: “This week, the government will do everything necessary to protect Britain’s national interest. Because when global economic sands are shifting, our laser focus on delivering for Britain will not. And these new times demand a new mentality.”

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Trump defiant despite markets

UK spared highest tariff rates

Some of the highest rates have been applied to “worst offender” countries including some in Southeast Asia. Imports from Cambodia will be subject to a 49% tariff, while those from Vietnam will face a 46% rate. Chinese goods will be hit with a 34% tariff.

Imports from France will have a 20% tariff, the rate which has been set for European Union nations. These will come into effect on 9 April.

Read more:
Red wall on Wall Street – but Trump undeterred
How will UK respond to Trump’s tariffs?

Sir Keir has been speaking to foreign leaders on the phone over the weekend, including French President Emmanuel Macron, Italian Prime Minister Giorgia Meloni and Australian Prime Minister Anthony Albanese, to discuss the tariff changes.

A Downing Street spokesperson said of the conversation between Sir Keir and Mr Macron: “They agreed that a trade war was in nobody’s interests but nothing should be off the table and that it was important to keep business updated on developments.

“The prime minister and president also shared their concerns about the global economic and security impact, particularly in Southeast Asia.”

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Trump’s warning

Mr Trump has warned Americans the tariffs “won’t be easy”, but urged them to “hang tough”.

In a post on his Truth Social platform, he said: “We are bringing back jobs and businesses like never before.

“Already, more than FIVE TRILLION DOLLARS OF INVESTMENT, and rising fast!

“THIS IS AN ECONOMIC REVOLUTION, AND WE WILL WIN. HANG TOUGH, it won’t be easy, but the end result will be historic.”

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