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Derek Draper, a former political adviser and husband of TV presenter Kate Garraway, has died after several years of serious health complications due to coronavirus.

The 56-year-old was said to be one of the UK’s longest-suffering COVID patients, spending 13 months in hospital after contracting the virus in March 2020.

He was left with extensive damage to his organs and needed daily care.

Kate Garraway, with her husband Derek Draper and her parents Gordon and Marilyn Garraway, after being made a Member of the Order of the British Empire for her services to broadcasting, journalism and charity by the Prince of Wales during an investiture ceremony at Windsor Castle, Berkshire. Picture date: Wednesday June 28, 2023.
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Kate Garraway, with her husband Derek Draper and her parents Gordon and Marilyn Garraway, after being made a Member of the Order of the British Empire in 2023

Garraway posted a statement on Instagram this morning saying her “darling husband” had died and she had been “by his side holding his hand throughout his last long hours”.

She confirmed he suffered a heart attack in early December, adding that “the damage inflicted by COVID… led to further complications”.

“I have so much more to say, and of course I will do so in due course, but for now I just want to thank all the medical teams who fought so hard to save him and to make his final moments as comfortable and dignified as possible,” she said.

“Sending so much love and thanks to all of you who have so generously given our family so much support. Rest gently and peacefully now Derek, my love, I was so lucky to have you in my life.”

More on Kate Garraway

Garraway’s Good Morning Britain co-stars and other well-known faces shared their condolences under the Instagram post.

“Our whole hearts are with you all,” Susanna Reid said, while Charlotte Hawkins commented: “So desperately sorry Kate, it’s absolutely heartbreaking. So much love to you all.”

Sir Elton John said: “So sorry to hear of this news, Kate. Love and thoughts to you and your family x.”

Former prime minister Sir Tony Blair, who Draper worked with in the 1990s, said he was “so sad” to hear about his death.

Kate Garraway with Derek Draper in 2007. Pic: Alan Davidson/Shutterstock
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Kate Garraway with Derek Draper in 2007. Pic: Alan Davidson/Shutterstock


“It is extraordinary and remarkable that Derek survived so long after the ravages of COVID. And that was in large measure due to the love Derek had for his family and they for him. This also says something very special about Derek,” he said.

“He was a tough, sometimes ruthless political operative, a brilliant adviser and someone you always wanted on your side.

“But underneath that tough exterior he was a loving, kind, generous and good natured man you wanted as a friend.”

Alastair Campbell, a fellow prominent New Labour figure, described Derek Draper as “a huge character”.

He posted on X, formerly known as Twitter: “Very sad to hear the news about Derek Draper. He was a huge character, a giver not a taker, and had so much more to give before COVID took its toll.

“Sad above all for Kate Garraway and the children. Their love and support was profound and unshakeable to the end. RIP.”

Read more:
Elton John and Tony Blair pay tribute to ‘brilliant’ Draper

Draper’s larger than life Labour character will not be forgotten

A prominent figure in New Labour in the 1990s, Draper worked for Blairite Peter Mandelson and set up the Progress organisation with Liam Byrne, who went on to become an MP.

After he was embroiled in the so-called “cash-for-access” scandal, dubbed “lobbygate”, he travelled to the US, where he retrained as a psychotherapist.

Garraway and Draper married in 2005, and have two children together. They celebrated their 18th anniversary in September, with the presenter saying on Instagram that she was “so glad” he survived to see it.

Kate Garraway and Derek Draper in 2006.
Pic: David Fisher/Shutterstock
Image:
Kate Garraway and Derek Draper in 2006.
Pic: David Fisher/Shutterstock

Just a few days later, she published her book, The Strength Of Love: Embracing An Uncertain Future With Resilience And Optimism, chronicling the upending of life as she knew it when her husband fell ill.

“It’s a constant cycle of loving and losing, gratitude at surviving and grief for what’s been lost,” she said. “This book tells the story of how I am learning to find love and strength to help my family thrive and I hope what I have learned helps you to get through your own challenges.”

Garraway also made two documentaries about Draper’s health battle and his care, with both programmes winning National Television Awards in the authored documentary category.

Kate Garraway, from London, is watched by her husband Derek Draper as she is made a Member of the Order of the British Empire by the Prince of Wales at Windsor Castle. The honour recognises services to broadcasting, to journalism and to charity.       Picture date: Wednesday June 28, 2023. PA Photo. See PA story ROYAL Investiture. Photo credit should read: Jonathan Brady/PA Wire
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Derek Draper

In 2022, she shared a post on Instagram as the second show, Caring For Derek, received its nomination.

“The reason we made the documentary was to highlight carers, professional carers, and carers who are doing it for love and the tough challenges that that involves,” she said.

“As much as you don’t begrudge doing it, it’s very hard. You saw me frustrated, depressed, emotional, and I’ve been all of those and more in recent weeks and months.

“That’s the thing about caring; you want it to carry on because you want the person surviving and with you. But there isn’t an end point, and it doesn’t get any easier.”

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Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

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Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

Crypto banking rule withdrawal by Fed ‘not real progress’ — Senator Lummis

United States Senator Cynthia Lummis suggests the crypto industry may be celebrating too soon over the US Federal Reserve softening its crypto guidance for banks.

“The Fed withdrawing crypto guidance is just noise, not real progress,” Lummis said in an April 25 X post. Lummis called the Fed’s April 24 announcement — withdrawing its 2022 supervisory letter that had discouraged banks from engaging with crypto and stablecoin activities — “just lip service.”

Lummis’ tone was different from the rest of the crypto industry

Lummis, a pro-crypto advocate known for introducing the Bitcoin (BTC) Strategic Reserve Bill in July 2024, pointed out several flaws in the Fed’s announcement, even as Strategy founder Michael Saylor and crypto entrepreneur Anthony Pompliano suggested it was a step forward for banks and crypto.

Cryptocurrencies, United States
Source: Anthony Pompliano

She argued that the Fed continues to “illegally flout the law on master accounts” and still relies on reputational risk in its bank supervision practices. It comes as the Federal Insurance Deposit Corporation (FDIC) is working on a rule to stop examiners from considering reputational risk when reviewing a bank’s operations, according to a recent Bloomberg report.

Lummis also highlighted the Fed’s policy statement in Section 9(13), which hasn’t been withdrawn, stating that Bitcoin and digital assets are considered “unsafe and unsound.”

She also reiterated many of the same staff behind Operation Chokepoint 2.0 are still involved in crypto policy today.

“We are NOT fooled. The Fed assassinated companies within the industry and hurt American interests by stifling innovation and shuttering businesses. This fight is far from over.”

“I will continue to hold the Fed accountable until the digital asset industry gets more than a life jacket, Chair Powell — they need a fair shake,” Lummis said.

Related: If Trump fired Powell, what would happen to crypto?

Custodia Bank founder and CEO Caitlin Long seemed to share a similar view to Lummis.

“THANK YOU for seeing this for what it is,” Long said.

Cryptocurrencies, United States
Source: David Sacks

However, many crypto executives praised the Fed’s announcement as a positive development for the industry. Saylor said in an April 25 X post that the Fed’s move means that “banks are now free to begin supporting Bitcoin.”

Anastasija Plotnikova, co-founder and CEO of blockchain regulatory firm Fideum, said the Fed’s decision “is a significant development, as it will simplify the path to institutional adoption.”

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

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Politics

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

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<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

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Politics

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

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<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

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