Connect with us

Published

on

Bitcoin briefly surpassed its record high of $69,000 per unit before it dipped by more than 10% on Tuesday capping a wild roller coaster ride for the worlds most popular digital coin which has officially emerged from its months-long crypto winter.

Bitcoin reached a high of $69,202 on Tuesday eclipsing the all-time record of $68,999.99 that was set in Nov. 2021 before retreating to around $62,300 as of 4 p.m. Eastern time.

Other cryptocurrencies such as ethereum, BNB, Solana and Dogecoin appeared to follow bitcoins trajectory on Tuesday.

Ethereum, which started the day at $3,698 per unit, rose 3% on Tuesday to $3,815 before it fell below $3,400 shedding more than 6%.

Despite bitcoins late-day dip, things are looking up for investors who have snapped up the digital currency in recent weeks.

Since Jan. 1, bitcoin has gained nearly 40%. In the last year, the cryptocurrency has risen by a whopping 175%.

Bitcoins rally is a far cry from the crypto winter which began in late 2021, when the digital coin flirted with $70,000 before freefalling to below $16,000 in late 2022.

Since then, bitcoin has been gradually recovering in fits and starts.

Experts told The Post that a regulatory stamp of approval by the Securities and Exchange Commission, which greenlighted 11 spot exchange traded funds, whetted investor appetites. 

Crypto analysts are also anticipating a halving of bitcoin next month.

Halving is a process that takes place every four years in which the rate at which tokens are released is cut in half, along with the rewards given to miners.

Supply of bitcoin is limited to 21 million, of which 19 million have already been mined.

Ted Jenkin, CEO of Atlanta-based financial planning firm oXYGen Financial, told The Post that investors, who are betting on bitcoin while anticipating interest rate cuts by the Fed, should still be cautious.

Part of the growth is always linked to the frenzy of people chasing a hot category or stock and the law of supply and demand kicks in to drive up price, Jenkin told The Post.

He compared bitcoin with AI chip maker Nvidia, whose market capitalization crossed the $2 trillion mark thanks to Wall Street enthusiasm over its growth potential.

Just remember, these are highly volatile early stage technology assets and they will have a ton of volatility, Jenkin said. 

Be careful about thinking of this as a get rich quick scheme.

With Post wires

Continue Reading

Entertainment

Snoop Dogg becomes co-owner and investor of Swansea football club saying it’s ‘an underdog just like me’

Published

on

By

Snoop Dogg becomes co-owner and investor of Swansea football club saying it's 'an underdog just like me'

Snoop Dogg has become a co-owner and investor of Swansea, with the US rapper hailing the Welsh football club as “an underdog that bites back, just like me”.

The former Premier League club, which plays in the English second tier, confirmed the US rapper and producer plans to use his own money to invest in it, Sky Sports reports, although it didn’t disclose financial details.

“My love of football is well known, but it feels special to me that I make my move into club ownership with Swansea City,” the music icon said in the announcement.

“The story of the club and the area really struck a chord with me,” he added. “This is a proud, working class city and club.

“An underdog that bites back, just like me.

“I’m proud to be part of Swansea City. I am going to do all I can to help the club.”

Swansea’s American owners, led by Brett Cravatt and Jason Cohen, are trying to grow the Championship club’s global brand and increase commercial revenue.

Snoop Dogg, 53, who has 89m followers on Instagram and more than 20m on X, helped launch the team’s 2025-26 home shirt last weekend.

More on Snoop Dogg

Read more from Sky News:
One child dies after coach crashes on way back from school trip
Antarctica’s oldest ice arrives in UK for analysis on climate shifts

The club ownership group said: “To borrow a phrase from Snoop’s back catalogue, this announcement is the next episode for Swansea City as we seek to create new opportunities to boost the club’s reach and profile.”

Luka Modric, who recently signed with AC Milan from Real Madrid, joined Swansea’s ownership group in April.

Continue Reading

Politics

Diane Abbott suspended from Labour Party

Published

on

By

Diane Abbott suspended from Labour Party

Diane Abbott has been suspended from the Labour Party pending an investigation.

A party spokesperson confirmed the decision to Sky News but did not give a reason why.

Politics Live: The Starmtroopers are coming for the Corbynites

It comes after the veteran MP defended previous comments about racism which sparked an antisemitism row and led to a year-long suspension.

She apologised at the time and was readmitted back into the party before the 2024 general election.

A Labour Party spokesperson said: “Diane Abbott has been administratively suspended from the Labour Party, pending an investigation. We cannot comment further while this investigation is ongoing.”

Sky News understands that the suspension is not related to the four rebels who lost the whip on Wednesday for “repeated breaches” of party discipline, including voting against the government’s welfare cuts.

More from Politics

The action has been taken because of an interview in which she doubled down on her claim Jewish people experience racism differently to black people, which previously sparked a huge controversy.

abbott
Image:
Diane Abbott

In a letter to The Observer in 2023, Ms Abbott argued that people of colour experienced racism “all their lives” and said that was different to the “prejudice” experienced by Jewish people, Irish people and Travellers.

Shortly after it was published, she issued a statement in which she said she wished to “wholly and unreservedly withdraw my remarks and disassociate myself from them”.

However in a new interview with BBC Radio 4’s Reflections programme this week, she said she did not look back on the incident with regret.

Ms Abbott said: “Clearly, there must be a difference between racism which is about colour and other types of racism because you can see a Traveller or a Jewish person walking down the street, you don’t know.

“But if you see a black person walking down the street, you see straight away that they’re black. They are different types of racism.”

She added: “I just think that it’s silly to try and claim that racism which is about skin colour is the same as other types of racism.

“I don’t know why people would say that.”

Commenting on the suspension, Ms Abbott told Sky News: “It’s obvious this Labour leadership wants me out. My comments in the interview with James Naughtie were factually correct, as any fair-minded person would accept.”

The clip of the interview was re-posted by Brian Leishman, one of the MPs suspended on Wednesday, who said: “Diane Abbott has fought against racism her entire life.”

Bell Riberio-Addy, who lost her role as trade envoy in yesterday’s purge, also came to Ms Abbott’s defence, saying: “Before condemning her based on headlines, I would listen to her clip and note she discussed the different forms that racism takes and condemned all forms of racism.”

Former shadow chancellor John McDonnell made similar comments, saying that in the interview his colleague “forthrightly condemns antisemitism & discusses the different forms of racism”.

But Labour MP David Taylor told Sky News he has “long thought Diane Abbott shouldn’t be a member of our party due to her appalling positions on everything from Bosnia to Syria”.

He added: “As the Jewish Labour Movement have said, antisemitism targets Jews regardless of how they look, and many in the community are visibly Jewish and suffer racism for it.”

In the interview, Ms Abbott said she “of course” condemns antisemitic behaviour in the same way she would condemn racist behaviour because of the colour of someone’s skin, adding: “I do get a bit weary of people trying to pin the antisemitic label on me because I spent a lifetime facing racism of all kinds.”

Ms Abbott made history when she was elected as Britain’s first black female MP for Labour in 1987.

She is the longest-serving female MP in the Commons, giving her the title “Mother of the House”.

As an MP on the left of the party she has often clashed with the leadership throughout her career – bar her time serving in Jeremy Corbyn’s shadow cabinet.

Read more from Sky News:
Sixteen and 17-year-olds will be able to vote in next general election
Five reasons to be confused by Starmer’s MP suspensions

Many MPs rallied in support of Ms Abbott last year when it was not clear if she would be reinstated in time for the general election, or allowed to stand.

She went on to retain her seat of Hackney North and Stoke Newington with a majority of over 15,000.

Deputy Prime Minister Angela Rayner hinted action could be taken against Ms Abbott when she told The Guardian earlier on Thursday that she was “disappointed” in her colleague’s remarks.

“There’s no place for antisemitism in the Labour Party, and obviously the Labour Party has processes for that,” she said.

A source close to the decision to suspend her told Sky News there is a “very slim chance” she will be allowed back in, given she did antisemitism training and apologised last time.

It raises questions about whether Ms Abbott could join the new party being formed by Mr Corbyn and former Labour MP Zarah Sultana.

For the time being, Ms Abbott will sit in the Commons as an independent MP.

Adnan Hussain, who was elected as the independent MP for Blackburn last year, said on X: “We’d be honoured to have a giant like Diane join us, she [should] come to the side that would really appreciate her for the legend she is.”

Continue Reading

UK

Child who died in Minehead school coach crash was 10-year-old boy, police say

Published

on

By

Child who died in Minehead school coach crash was 10-year-old boy, police say

The child who died in a school coach crash in Somerset on Thursday was a 10-year-old boy, Avon and Somerset Police have said.

A specially trained officer is supporting the child’s family, the force said, adding that two children taken to Bristol Royal Hospital for Children by air ambulance remain there as of Friday.

Four children and three adults also remain in hospital in Somerset.

There were between 60 to 70 people on board when the incident happened near Minehead, just before 3pm on Thursday.

The coach was heading to Minehead Middle School when it crashed on the A396 between Wheddon Cross and Timbercombe.

Flowers outside school
Image:
Pic: PA

Police said that 21 people were taken to hospital, including two children who were taken via air ambulance.

Gavin Ellis, chief fire officer for Devon and Somerset, said the coach “overturned onto its roof and slid approximately 20ft down an embankment”.

Rachel Gilmour, MP for Tiverton and Minehead, said the road where it happened is “very difficult to manoeuvre”.

“You have a very difficult crossing at Wheddon Cross, and as you come out to dip down into Timbercombe, the road is really windy and there are very steep dips on either side,” she told Sky’s Anna Botting.

Please use Chrome browser for a more accessible video player

Tearful MP reacts to coach crash

It comes after a teacher at Minehead Middle School praised the “incredibly brave” pupils for supporting each other after the coach crash.

Read more on Sky News:
Amber warning for thunderstorms for southeast England
No further action over Kneecap at Glastonbury, police say

“You have looked after each [other] in what was a life-changing event, we will get through this together,” they wrote on Facebook.

“I feel so lucky to be your teacher. I am so grateful to my wonderful colleagues during this time who were also fighting to help as many people as we could.”

Continue Reading

Trending