Connect with us

Published

on

Rishi Sunak is under pressure to back an immediate ceasefire in Gaza after 10 senior Conservative MPs accused Israel of carrying out the “brutalisation of the civilian Palestinian population” – which they argue risks fuelling more extremism in the region.

The MPs, including former cabinet ministers, have written to Foreign Secretary Lord Cameron to argue that the case for an immediate ceasefire is now “unanswerable”.

It comes before the prime minister is due to face questioning from MPs on the Liaison Committee on Tuesday, in which the war between Hamas and Israel is likely to feature prominently.

In the letter signed by 10 Tory MPs – including former education secretary Kit Malthouse and former environment secretary George Eustice – the group said Israel’s actions appeared to be neither “proportionate or targeted”, with “many thousands of civilians dead and injured, and close to two million forcibly displaced”.

“Thousands of bodies must surely still lie under the rubble,” they continued.

“In particular, the number of women and children who have been killed is profoundly shocking. As you have said yourself, too many Palestinians have died.”

Politics latest: Tory MPs sign letter calling for immediate ceasefire

Their intervention comes as Benjamin Netanyahu’s administration faces mounting international criticism over the scale of civilian casualties.

The conflict in Gaza, triggered by Hamas’s attack on 7 October which saw 1,200 people killed and 240 more taken hostage, has flattened much of northern Gaza and has driven 85% of the territory’s population of 2.3 million from their homes.

Meanwhile, aid groups have warned of a spiralling humanitarian crisis as the bombardment continues.

Last weekend, the United Nations General Assembly held a vote in which 153 out of 193 members supported a ceasefire in Gaza. The US voted against the move, while the UK abstained.

Please use Chrome browser for a more accessible video player

10 Tory MPs call for Gaza ceasefire

On Sunday Lord Cameron called for a “sustainable ceasefire” in the escalating conflict in a move that added to growing global pressure on Israel.

The foreign secretary said “too many civilians have been killed” and urged Israel to do more to “discriminate sufficiently between terrorists and civilians, ensuring its campaign targets Hamas leaders and operatives”.

His language strongly echoed that of US President Joe Biden, who described Israel’s bombing in Gaza following the Hamas terrorist attack on 7 October as “indiscriminate”.

However, Lord Cameron stopped short of calling for an immediate ceasefire, something that has been a recurring demand by pro-Palestinian campaigners as the death count in Gaza continues to grow.

MPs ‘dismayed’ by UK’s UN stance

The Tory group of MPs who wrote to Mr Sunak said they were “dismayed” that the UK abstained on the UN resolution calling for a ceasefire in Israel and Gaza when allies including France, Canada and Australia supported it.

Paul Bristow, the Tory MP for Peterborough who was sacked from his government post in October for calling for a ceasefire and who signed the letter, told Sky News’s Politics Hub with Sophy Ridge that on top of the 10 MPs who had written to Lord Cameron, there were “many more behind the scenes” who wanted the UK to push for that outcome.

The letter followed an article from former defence secretary Ben Wallace who warned at the weekend that Israel risked losing its “legal” and “moral” authority if it continued with its “killing rage” in Gaza as he appealed to all sides to pursue a two-state solution.

Asked about Mr Wallace’s article during a trip to Scotland, Rishi Sunak said that while Israel “obviously has a right to defend itself against what was an appalling terrorist attack perpetrated by Hamas… it must do that in accordance with humanitarian law”.

“It’s clear that too many civilian lives have been lost and nobody wants to see this conflict go on a day longer than it has to,” the prime minister added.

Please use Chrome browser for a more accessible video player

‘Too many civilian lives lost’ in Gaza

Elsewhere in the letter to the foreign secretary, the 10 Conservative MPs went on to warn that the risk of disease and starvation was “imminent” as the Palestinian population is “kettled into ever smaller areas”.

“By any measure we are witnessing a catastrophe of precisely the kind the 1949 Geneva Conventions were supposed to prevent. As such, it is unconscionable that we should make Gaza an exception to the rules and obligations those accords created,” the letter by the MPs said.

Read more:
MP worried family trapped in Gaza church will not survive
Israel claims to have discovered biggest Hamas tunnel yet in Gaza

The MPs added they had all “privately expressed our anguish and dismay at the position taken by His Majesty’s government following the terrible atrocities of 7 October”.

“We said we did not believe it was in the United Kingdom’s or Israel’s best long-term interests for them to flatten Gaza and massacre innocent Palestinians in pursuit of Hamas, nor that there was a viable military solution to dealing with such a terrorist organisation and to securing the urgent return of Israeli hostages,” they wrote.

The letter added: “On the contrary, the brutalisation of the civilian Palestinian population is sure to lead to more extremism in the future.

“Furthermore, it is increasingly clear that the Israeli military strategy is neither proportionate nor targeted and that there is no serious prospect of success, whatever that might mean.”

Continue Reading

Politics

SEC chair suggests ‘huge benefits’ in agency’s third crypto roundtable

Published

on

By

<div>SEC chair suggests 'huge benefits' in agency's third crypto roundtable</div>

<div>SEC chair suggests 'huge benefits' in agency's third crypto roundtable</div>

In one of his first appearances as the recently sworn-in chair of the US Securities and Exchange Commission, Paul Atkins delivered remarks to the agency’s third roundtable discussion of crypto regulation. 

In the “Know Your Custodian” roundtable event on April 25, Atkins said he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs. He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty. 

“I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins.

SEC chair suggests 'huge benefits' in agency's third crypto roundtable
SEC chair Paul Atkins addressing the April 25 crypto roundtable. Source: SEC

Some critics of US President Donald Trump see Atkins’ nomination to lead the SEC as a nod to the crypto industry, acting on campaign promises to remove Gensler — the former chair resigned the day Trump took office — and cut back on regulation. Democratic lawmakers on the Senate Banking Committee questioned Atkins on his ties to the industry, potentially presenting conflicts of interest in his role regulating crypto.

Related: Atkins SEC era sparks massive industry optimism, crypto execs speak out

The direction of the SEC under new leadership

“We’ve noticed that we don’t have to be as concerned […] about being accused of things that we’re not doing, like being broker-dealers for securities,” Exodus chief legal officer Veronica McGregor, who participated in the roundtable, told Cointelegraph on April 24.”It’s just a less scary regulatory environment in general. It is, however, still unclear what the ultimate regs are going to look like for crypto.” 

The SEC crypto task force is scheduled to hold two more roundtables in May and June to discuss tokenization and decentralized finance, respectively. Commissioner Hester Peirce, who leads the task force, told Cointelegraph in March that she welcomed the opportunity to work with Atkins to “reorient the agency,” hinting at an SEC with regulations more favorable to the crypto industry.

In addition to the roundtables, the crypto task force has reported several meetings with digital asset firms to discuss various policies and considerations in developing a regulatory framework.

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

Continue Reading

Politics

Nasdaq urges SEC to treat certain digital assets as ‘stocks by any other name’

Published

on

By

<div>Nasdaq urges SEC to treat certain digital assets as 'stocks by any other name'</div>

<div>Nasdaq urges SEC to treat certain digital assets as 'stocks by any other name'</div>

Nasdaq has urged the US Securities and Exchange Commission (SEC) to hold digital assets to the same regulatory standards as securities if they constitute “stocks by any other name,” according to an April 25 comment letter. 

The exchange said the US financial regulator needs to establish a clearer taxonomy for cryptocurrencies, including categorizing a portion of digital assets as “financial securities.” Those tokens, Nasdaq argued, should continue to be regulated “as they are regulated today regardless of tokenized form.”

“Whether it takes the form of a paper share, a digital share, or a token, an instrument’s underlying nature remains the same and it should be traded and regulated in the same ways,” the letter said. 

It also proposed categorizing a portion of cryptocurrencies as “digital asset investment contracts,” to be subject to “light touch regulation” but still overseen by the SEC.

Nasdaq urges SEC to treat certain digital assets as 'stocks by any other name'
Nasdaq’s April 25 letter to the SEC. Source: Nasdaq

Related: Certain stablecoins aren’t securities, SEC says in new guidance

Regulatory U-turn

The SEC has dramatically pivoted its stance on cryptocurrency oversight since US President Donald Trump took office in January. 

Under the leadership of former Chair Gary Gensler, the SEC took the position that practically all cryptocurrencies, with the exception of Bitcoin (BTC), represent investment contracts and therefore qualify as securities. 

This stance led the agency to bring upwards of 100 lawsuits against crypto firms for alleged securities law violations.

However, under Trump nominee Paul Atkins, who was sworn in as chair on April 21 after a lengthy Senate confirmation, the SEC has claimed jurisdiction over a narrower segment of cryptocurrencies. 

In February, the agency issued guidance stating that memecoins — if clearly identified as purely speculative assets with no intrinsic value — do not qualify as investment contracts pursuant to US law. 

In April, the SEC said that stablecoins — digital tokens pegged to the US dollar — similarly do not qualify as securities if they are marketed solely as a means of making payments.

Nasdaq urges SEC to treat certain digital assets as 'stocks by any other name'
Stablecoin market overview. Source: RWA.xyz

Integrating crypto into TradFi

In its April 21 letter, Nasdaq said existing financial infrastructure “can readily absorb digital assets by establishing the proper taxonomy and calibrating certain rules to reflect what is truly new and novel about digital assets.”

The Depository Trust & Clearing Corporation (DTCC) — a private US securities clearinghouse closely overseen by the SEC — has been laying the foundation for integrating blockchain technology into regulated financial markets.

In March, the DTCC committed to promoting Ethereum’s ERC-3643 standard for permissioned securities tokens.

Magazine: Ethereum is destroying the competition in the $16.1T TradFi tokenization race

Continue Reading

Politics

Crypto firms launch Wall Street-style funds: Finance Redefined

Published

on

By

Crypto firms launch Wall Street-style funds: Finance Redefined

Crypto firms launch Wall Street-style funds: Finance Redefined

Cryptocurrency firms and centralized exchanges are launching more traditional investment offerings, bridging the divide between traditional financial and digital assets.

With investors seeking more flexible product offerings under one platform, the “line is blurring” between traditional finance (TradFi) and the cryptocurrency space, as the two financial paradigms signal a “growing synergy,” according to Gracy Chen, CEO of Bitget, the world’s sixth-largest crypto exchange.

In the wider crypto space, Securitize partnered with Mantle protocol to launch an institutional fund that will generate yield on a basket of diverse cryptocurrencies, similar to how traditional index funds track a mix of stocks.

The developments come after crypto investor sentiment staged a significant recovery, moving from “fear” to “neutral” for the first time since January 2025.

Crypto firms launch Wall Street-style funds: Finance Redefined
Fear & Greed Index chart. Source: CoinMarketCap

Investor sentiment was bolstered after US President Donald Trump said that import tariffs on Chinese goods will “come down substantially,” adopting a softer tone in negotiations for the first time since the reciprocal tariff announcement.

Crypto firms moving into Wall Street territory

Cryptocurrency firms and exchanges are increasingly moving into Wall Street territory, launching more traditional investment offerings and showcasing the increasing connection between crypto and traditional finance (TradFi).

“There’s a growing synergy between traditional financial investments and the emerging crypto space,” according to Gracy Chen, the CEO of Bitget, the world’s sixth-largest crypto exchange.

“Crypto players are now checking out traditional finance as they see the opportunity to bridge it,” Chen told Cointelegraph.

“The lines are blurring. Investors want flexibility, and products that can straddle both worlds are naturally attractive,” Chen said. “Some players see TradFi as a safety net; others, like Bitget, see it as a launchpad for broader adoption.” She added:

“In a volatile market, integration is smarter than isolation.”

Continue reading

Securitize, Mantle launch institutional crypto fund

Tokenization platform Securitize partnered with decentralized finance (DeFi) protocol Mantle to launch an institutional fund designed to earn yield on a diverse basket of cryptocurrencies, the companies said. 

Similar to how a traditional index fund tracks a mix of stocks, the Mantle Index Four (MI4) Fund aims to offer investors exposure to cryptocurrencies, including Bitcoin (BTC), Ether (ETH), and Solana (SOL), as well as stablecoins tracking the US dollar, Securitize said in an April 24 announcement. 

The fund also integrates liquid staking tokens — including Mantle’s mETH, Bybit’s bbSOL, and Ethena’s USDe — in a bid to enhance returns with onchain yield, according to the announcement.

The launch comes as retail and institutions alike increase exposure to cryptocurrencies, particularly Bitcoin, as a hedge amid escalating macroeconomic uncertainty.

Continue reading

Mantra says CEO has begun the process of burning his 150 million OM tokens

Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token’s value by tightening supply. 

Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin’s Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.

Mantra
Source: John Patrick Mullin

Mullin said it was a “first step in rebuilding trust with the community, but far from the last.” 

Mantra said it was also in talks with “key ecosystem partners” about burning a further 150 million OM to bring the total burn amount to 300 million.

With 150 million fewer OM, Mantra’s total supply will decline to 1.67 billion, and its number of staked tokens will drop by over 26% to 421.8 million OM from 571.8 million OM. 

Continue reading

Symbiotic raises $29 million for staking-based universal coordination layer

Cryptocurrency staking protocol Symbiotic closed a $29 million Series A funding round led by Web3-focused investment firms, including Pantera Capital and Coinbase Ventures, to support the launch of a new economic coordination layer for blockchain security.

The round included more than 100 angel investors, with participation by major industry players Aave, Polygon and StarkWare, the company said in an April 23 announcement shared with Cointelegraph.

The closing of the funding round also marks the launch of Symbiotic’s Universal Staking Framework, which aims to be an economic coordination layer that bolsters blockchain security via staking.

The new staking layer enables the use of any combination of cryptocurrencies to secure networks, including monolithic and modular layer-1 and layer-2 blockchains, the announcement said.

“We’ve created a modular framework that lets protocols evolve security models over time while efficiently coordinating risk,” Misha Putiatin, co-founder of Symbiotic, told Cointelegraph. “This empowers protocols at every stage of their lifecycle to evolve their security models seamlessly without rebuilding infrastructure.”

Continue reading

SEC delays decision on Polkadot ETF

The US Securities and Exchange Commission (SEC) delayed a decision on whether to approve a proposed exchange-traded fund (ETF) holding Polkadot’s native token, regulatory filings show. 

According to an April 24 filing, the regulator has extended its deadline for a final ruling until June 11, nearly four months after the Nasdaq sought permission to list Grayscale Polkadot Trust on Feb. 24.

Grayscale’s ETF filing adds to a roster of about 70 proposed ETFs awaiting SEC approval, including funds holding altcoins, memecoins and crypto-related financial derivatives, according to Bloomberg Intelligence.  

Asset managers are pitching ETFs for “[e]verything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Bloomberg analyst Eric Balchunas said in an April 21 post on the X platform. Asset manager 21Shares is also awaiting permission to list its own Polkadot ETF.

Continue reading

DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

The Official Trump (TRUMP) token rose over 73% as the week’s biggest gainer, after the president announced an exclusive in-person dinner for the top tokenholders. The Sui (SUI) token rose over 69% as the week’s second-best performing token.

Crypto firms launch Wall Street-style funds: Finance Redefined
Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Continue Reading

Trending