Rishi Sunak to update MPs on Houthi strikes – as dispute arises over whether Labour was briefed
Rishi Sunak will address MPs about the latest Houthi strikes later today – amid a dispute about whether Labour was briefed over the action.
The prime minister will give a statement at 12.30 in the House of Commons, Downing Street confirmed.
It comes amid a brewing row over whether or not Sir Keir Starmer was informed about the strikes ahead of time
Huw Merriman, the transport minister, told Sky News that Sir Keir Starmer and Commons Speaker Lindsay Hoyle were told about the operation before it happened, despite briefings to the contrary.
Politics live: Row brews over Houthi strikes briefing
“I can confirm that the Leader of the Opposition and indeed the Speaker were again given that information in the same way they were the first time around,” he said.
However Sir Lindsay is disputing this, Sky News understands.
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Starmer ‘told about Houthi strikes’
Labour also said they were not told about the operation before it happened.
Karin Smyth, a shadow health minister, told GB News this morning: “We don’t know why the government hasn’t spoken to us on the usual terms.
“We would expect them to do that.”
Speaking later at the Institute for Government, she said this mattered because of Sir Keir’s “constitutional position as leader of the official opposition”.
She said this means he should be briefed under the terms of the privy council, the mechanism through which interdepartmental agreement is reached on certain matters of government business.
“We’ve been very clear that these issues after immediate action or urgent action of course is done on those terms, the prime minister should come to parliament. That is his job,” Ms Smyth said.
Number 10 said Sir Lindsay and Sir Keir “were informed last night”, but refused to provide clarity on whether this was before the strikes were launched.
The US and UK carried out joint attacks on Houthi military targets in Yemen for the second time on Monday night, in response to their repeated attacks on commercial vessels in the Red Sea.
Ahead of the first strikes earlier this month, both Sir Keir and Sir Lindsay were briefed in advance.
Sir Keir expressed his support for the military intervention to protect ships and personnel in the vital trade route, in a rare showing of cross-party unity.
It is understood there will be a briefing today which Labour representatives will attend.
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‘UK aid feeds 100,000 Yeminis a month’
Lots of MPs have demanded parliament be given a vote on the strikes, amid concerns over escalation of conflict in the Middle East.
Military intervention is currently a prerogative power, so the government does not have to seek approval.
Read More:
Why have the UK and US launched strikes on Yemen and who are the Houthis?
The military firepower the UK and US have at their disposal in the Gulf
Mr Merriman said the prime minister will “account to parliament” by addressing MPs in the House of Commons later on Tuesday.
Bizarre and petty row risks damaging cross-party unity
Ahead of the last joint military operation against the Houthis on January 11th there was a rare outbreak of agreement between the Conservatives and the Labour leadership.
Sir Keir Starmer, shadow defence secretary John Healey and the speaker Sir Lindsay Hoyle were called to Downing Street and briefed in advance of the strikes, shortly after the rest of the cabinet.
Afterwards Sir Keir expressed his support for military intervention to protect ships and personnel in the Red Sea.
While some backbenchers were uneasy about the risk of escalation – the ghosts of past wars in the Middle East looming large – and the Liberal Democrats and SNP called loudly for parliament to be recalled to debate what had happened, that wasn’t Labour’s official position.
Indeed Sir Keir found himself in hot water the weekend afterwards when he was accused of U-turning on a pledge made during his leadership campaign only to support military action if it had been approved by a parliamentary vote in advance; he claimed he only meant in situations with boots on the ground, not airstrikes.
This time around there’s a battle of briefing and counter briefing between the two parties.
Sky News understands neither Sir Keir nor Sir Lindsay, received an advance briefing this time, with shadow minister Karin Smyth telling broadcasters this morning “we don’t know why the government haven’t spoken to us on the usual terms – we would expect them to do that.”
But Huw Merriman, the government minister put up for this morning’s broadcast round, told Kay Burley that he believed that was not correct – as he understood they “were again given that information in the same way that they were the first time around”.
Both sides are standing by their story.
The key discrepancy seems to be on the timing; while No 10 sources insist both were briefed last night, it doesn’t seem to have been in advance.
We’re expecting some kind of statement from the government in parliament, as we saw last time, to set out more information about what happened to MPs.
But this rather bizarre and slightly petty row over who was informed when this morning is surely going to be damaging to the sense of cross party unity in the national interest we saw briefly flickering a few weeks ago.
He said the latest air strikes in the Red Sea will “not just be a one-off” if the Houthis continue their campaign of harassment against cargo ships in the region.
“For us to take action and then the Houthis respond, and then we do nothing, would send out the completely wrong signal,” he told Sky News.
“So, this demonstrates that we will be tough and we will take all measures required against the Houthis to protect international shipping and protect the lives of those who operate those ships.”
The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.
While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.
On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.
Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.
Tariffs compound existing mining challenges
Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.
Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.
According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.
Bitcoin hashprice since late 2013. Source: Bitbo
“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.
He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.
Source: Summer Meng
“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.
Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.
BTC mining firms to “lose in the short term”
Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.
“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.
Source: jmhorp
Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.
Related: Bitcoin mining using coal energy down 43% since 2011 — Report
“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.
As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.
Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.
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Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.
Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.
While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.
OKX was among the first crypto exchanges to receive a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation via its Malta hub in January 2025.
The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.
Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.
This is a developing story, and further information will be added as it becomes available.
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Authorities in the US state of Massachusetts continue targeting unlawful cryptocurrency market practices, with a local court fining crypto financial services firm CLS Global.
A federal court in Boston on April 2 sentenced CLS Global on criminal charges related to fraudulent manipulation of crypto trading volume, according to an announcement from the Massachusetts US Attorney’s Office.
In addition to a $428,059 fine, the court prohibited CLS Global from offering services in the US for a probation period of three years.
CLS Global, a crypto market maker registered in the United Arab Emirates, in January pleaded guilty to one count of conspiracy to commit market manipulation and one count of wire fraud.
CLS agreed to manipulate the FBI’s “trap token” NexFundAI
The charges against CLS Global followed an undercover law enforcement operation involving NexFundAI, a token created by the FBI as part of a sting operation in May 2024.
CLS Global was among at least three firms that took the FBI’s bait and agreed to provide “market maker services” for NexFundAI, including a fraudulent scheme to attract investors to purchase the token.
In October 2024, the Securities and Exchange Commission announced fraud charges against CLS and its employee, Andrey Zhorzhes. The US securities regulator also filed complaints against two other NexFundAI manipulators, Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
CLS Global’s profile
According to CLS Global CEO Filipp Veselov, the company was founded in 2017 to fill in a “huge gap in the market for high-quality market-making solutions and trading consulting.”
Prior to CLS, Veselov worked at the Russian cryptocurrency exchange platform Latoken, which is advertised as a “global digital asset exchange” and has about 370,000 followers on X.
The CLS team also includes chief revenue officer Pavel Singaevskii, who previously served as sales manager at Stex, a crypto platform that reportedly ceased operations without warning in 2023.
Source: CLS Global
According to CLS Global’s X page, the platform continues operating and has more than 110,000 followers at the time of publication.
How much wash trading is in crypto?
Wash trading is an illegal practice involving artificially inflating trading volume by repeatedly buying and selling the same asset, generating a misleading perception of demand.
According to a January 2025 report by the US blockchain analytics firm Chainalysis, the crypto market has at least $2.6 billion in estimated wash traded volumes, or just about 2% of total daily crypto trading volumes, as reported by CoinGecko.
Estimated wash trade volume in crypto. Source: Chainalysis
Related: Russian Gotbit founder strikes $23M plea deal with US prosecutors
Some studies indicate that wash trading makes up a bigger share of the crypto market.
In 2022, the US National Bureau of Economic Research reported that illegal wash trading may account for as much as 70% of average trading volumes on unregulated exchanges.
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