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The Home Office gave out 275 certificates of sponsorship for care workers after “forged” documents were used to make an application, a damning report into the department has shown.

The probe, by ex-borders and immigration inspector David Neal, claimed the Home Office had a “limited understanding” of the care sector after it was added to the UK’s shortage occupation list in 2022 – allowing more people to come to the country to fill jobs.

And as a result, it created a system that “invited large numbers of low-skilled workers to this country who are at risk from exploitation”.

Politics live: Sunak asked if he was part of the ‘deep state’ after Truss remark

The report was released on Tuesday afternoon as MPs wrapped up business in parliament for the Easter recess, alongside another into Border Force operations at London City Airport.

In that investigation, Mr Neal highlighted “failings at a local, regional, and national level” over the arrival of private jets, with high-risk flights not being met by Border Force staff.

The figures on how many high-risk flights were met by officials were redacted, but Mr Neal said the number was “shocking” and needed to be addressed “as a matter of urgency”.

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Mr Neal was fired by the Home Office last month after he leaked details of the airport report to a newspaper, with the department saying he had “lost the confidence” of Home Secretary James Cleverly.

But the ex-inspector had repeatedly complained the Home Office was too slow to publish his critical reports.

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‘Totally inadequate’

In Mr Neal’s report into social care and immigration, he criticised the department’s “underestimation of demand for the care worker visa”.

While the Home Office had predicted between 6,000 and 40,000 would come through this route each year, 146,182 were granted between February 2022 and October 2023.

The report criticised “the inappropriateness” of the regime in place, and said the “mismatch between its meagre complement of compliance officers and ever-expanding register of licensed sponsors” – with one officer for every 1,600 employers – was “totally inadequate”.

In the example of an employer only known as “company b”, an application had been submitted using forged documents and bank statements in the name of a real care provider.

But despite online checks showing the address they provided showed “no trace” of links to a care home, 275 certificates of sponsorship had been secured, with 181 assigned to workers, “none of whom have arrived to undertake genuine roles”.

It took more than two months after the sponsorship licence was granted to the company for Border Force officers to raise their concerns about those arriving on the visas.

Another example included 1,234 certificates being granted to a company that said it had only four employees when it was given a sponsorship licence.

“In just these two examples, up to 1,500 people could have arrived in this country and been encouraged by a risk of hardship or destitution to work outside the conditions of their visa,” said Mr Neal.

‘Reliant on handouts’

The report also highlighted the tough conditions faced by some workers caught up in the system, pointing to a story from Sky News, where a care worker paid £10,000 to an agent in Nigeria only to find there was no job for her when she arrived in the UK.

And it said inspectors encountered migrants with care visas working illegally in two out of eight enforcement visits carried out over three months in 2023.

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A Sky News investigation has shown the skilled worker visa system is being abused with people promised jobs in the UK that don’t exist

The report praised frontline staff at the Home Office dealing with care workers and their awareness to the “serious risk”.

But Mr Neal said: “What worries me most is that the Home Office does not appear to have any process to identify the lessons from this debacle and then bring those lessons into core thinking in order that they are not repeated.”

‘Robust measures’

The former inspector called for a full review of the visa route, sponsorship licensing and compliance, as well as the creation of a multi-agency agreement so each part knows what they are responsible for.

A Home Office spokesperson said they had “already intervened to stop the flow of overseas care workers entering the UK where there is no genuine role for them to undertake” and taken “robust action” against exploitation.

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They also insisted new measures were already in place to “cut the rising numbers of visas granted and address significant concerns” about non-compliance, worker exploitation and abuse.

But Labour’s shadow home secretary, Yvette Cooper, called both reports from Mr Neal “scandalous”, saying they “expose a Conservative government which has lost control of our borders and our border security”.

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Investors sue Meteora and VC firm, alleging fraud

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Investors sue Meteora and VC firm, alleging fraud

Investors sue Meteora and VC firm, alleging fraud

A group of investors has filed a class-action lawsuit against decentralized cryptocurrency exchange Meteora, alleging the firm was involved in manipulating the launch and market price of the M3M3 token.

In an amended complaint filed on April 21 in the US District Court for the Southern District of New York, the plaintiffs allege that venture capital firm Kelsier Labs, Meteora, and four current or former executives “intentionally misrepresented” information in the M3M3 launch in December 2024.

The investors claimed that they suffered at least $69 million in losses between December 2024 and February 2025 after the parties presented “trusted leaders in the Solana ecosystem” as being behind the token launch, rather than a “blatant fraud” in which sales were manipulated to artificially inflate the price.

“This artificially-inflated valuation communicated highly misleading information to non-insider investors, who reasonably relied on Defendants’ representations that the $M3M3 launch was fully accessible to the public and conducted in a transparent manner fair to non-insider investors, and thus reasonably relied on $M3M3 market price as a meaningful measure of its value,” the complaint reads. “The post-launch price spike also served to corroborate Defendants’ aggressively-marketed, but misleading, assertions that $M3M3 had intrinsic value and a comparatively low risk profile.”

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Class-action lawsuit against Meteora, Kelsier Labs, and current and former executives. Source: PACER

The lawsuit is one of many involving different crypto firms that have alleged fraud through violations of US securities laws. Though the US Securities and Exchange Commission (SEC), under acting chair Mark Uyeda since US President Donald Trump took office, has scaled back or dismissed many enforcement actions involving digital assets, the agency said in February it still intended to pursue cases against fraudulent token projects.

The investors added:

“Together, Defendants designed the $M3M3 Token and planned its launch on Meteora in a manner intended to illicitly enrich themselves at the expense of the unsuspecting investing public.”

Related: Meteora says co-founder’s X account hacked after ‘parasitic’ memecoin post

Memecoins in the Solana ecosystem

Meteora has been tied to the launch of several high-profile yet controversial tokens, including those for Trump (TRUMP), his wife Melania (MELANIA), Libra (LIBRA), and online influencer Haliey Welch (HAWK).

According to the lawsuit, the firm “purported to offer a comprehensive solution to the problems in the memecoin investment market” with the launch of M3M3. The defendants in the case allegedly attempted to distinguish the token from other notable memecoins by highlighting the “legitimacy and trustworthiness” through the involvement of Meteora co-founder Ben Chow and the platform.

Kelsier Ventures, KIP Protocol, and Meteora face a similar class-action lawsuit filed in New York in March over LIBRA allegedly being launched in a “deceptive, manipulative and fundamentally unfair” manner. Argentine President Javier Milei briefly promoted the token over social media after his sister reportedly received payments from the project.

Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research

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More than 70 US crypto ETFs await SEC decision this year — Bloomberg

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More than 70 US crypto ETFs await SEC decision this year — Bloomberg

More than 70 US crypto ETFs await SEC decision this year — Bloomberg

More than 70 cryptocurrency exchange-traded funds (ETFs) are slated for review by the US Securities and Exchange Commission (SEC) this year. According to Bloomberg analyst Eric Balchunas, the list includes proposed ETFs holding a range of assets, from altcoins to memecoins to derivatives instruments.

“Everything from XRP, Litecoin and Solana to Penguins, Doge and 2x Melania and everything in between,” Balchunas said in an April 21 post on the X platform. “Gonna be a wild year.”

More than 70 US crypto ETFs await SEC decision this year — Bloomberg
Crypto ETFs’ SEC review schedule. Source: Eric Balchunas/Bloomberg

Related: ARK adds staked Solana to two tech ETFs

Uncertain institutional demand

The planned funds listings come as institutional investors turn increasingly bullish on crypto as an asset class. 

Upward of 80% of institutions say they plan to increase allocations to crypto in 2025, according to a March report by Coinbase and EY-Parthenon. 

However, analysts caution that just because ETFs are approved for US listings doesn’t guarantee widespread adoption, especially for funds holding more obscure alternative cryptocurrencies.

“Having your coin get ETF-ized is like being in a band and getting your songs added to all the music streaming services,” Balchunas said

“Doesn’t guarantee listens but it puts your music where the vast majority of the listeners are.”

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Comparing asset manager Grayscale’s net assets pre-ETF launch across different cryptocurrencies suggests tepid demand for altcoin ETFs. Source: Sygnum Bank

Sygnum Bank’s research head, Katalin Tischhauser, told Cointelegraph she expects altcoin ETFs to see cumulative inflows of several hundred million to $1 billion, far less than spot Bitcoin funds

Funds holding Bitcoin (BTC) — the first spot cryptocurrency approved for listing in a US ETF wrapper — attracted upward of $100 billion in net assets last year. 

However, ETFs using options and other derivatives to provide structured exposure to cryptocurrencies such as Bitcoin and Ether might see more institutional uptake, analysts said. 

Options on spot cryptocurrencies unlock numerous potential portfolio strategies for investors and could potentially catalyze “explosive” price upside for digital assets such as Bitcoin, Jeff Park, Bitwise Invest’s head of alpha strategies, said in September.

Options are contracts granting the right to buy or sell an underlying asset at a certain price.

On April 21, ARK Invest added exposure to staked Solana (SOL) to two of its existing ETFs. The asset manager said it marks the first time spot SOL has been available to US investors in an ETF.

Magazine: ‘Bitcoin layer 2s’ aren’t really L2s at all: Here’s why that matters

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Consensys, Solana, and Uniswap CEO donated to Trump’s $239M inauguration fund

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<div>Consensys, Solana, and Uniswap CEO donated to Trump's 9M inauguration fund</div>

<div>Consensys, Solana, and Uniswap CEO donated to Trump's 9M inauguration fund</div>

New filings from the Federal Election Commission (FEC) reveal that several cryptocurrency firms and their executives made significant contributions to US President Donald Trump’s inauguration fund after the results of the 2024 election. 

According to FEC filings made public on April 20 by the Trump-Vance Inaugural Committee, Uniswap CEO Hayden Adams donated more than $245,000, Solana Labs donated $1 million, and software firm Consensys sent $100,000 in January 2025 to support the then-president-elect’s inauguration. Many major crypto firms had previously announced their support of Trump through donations to the inaugural fund, including Coinbase, Ripple Labs, Kraken, Ondo Finance, and Robinhood.

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Jan. 9 contribution from Uniswap CEO Hayden Adams to Trump-Vance inauguration fund. Source: FEC

Altogether, the fund reported more than $239 million in net donations between Nov. 15 and April 20 from companies and individuals. These included $1 million from McDonald’s, $1 million from Meta, $1 million from Apple CEO Tim Cook, $1 million from OpenAI CEO Sam Altman, and various contributions from Delta Air Lines, ExxonMobil, FedEx, Nvidia, PayPal, Target, and Coca-Cola. 

Since Trump took office on Jan. 20 and appointed Mark Uyeda as acting chair of the US Securities and Exchange Commission (SEC), the agency has dropped multiple investigations and enforcement actions against crypto firms, including those that donated to the president’s 2024 campaign or inauguration fund. In February, Uniswap reported that the SEC had dropped its probe into the firm, and Consensys founder Joseph Lubin said the agency had agreed to end a separate lawsuit. 

Memecoins, stablecoin issuers, and future elections

Trump’s memecoin, launched on Jan. 17 on the Solana blockchain — along with his wife Melania’s, which was available a few days later — has many in the crypto industry and the US government questioning the president about conflicts of interest by capitalizing on his position. The president’s family is also behind the launch of World Liberty Financial, a crypto firm responsible for a US dollar-pegged stablecoin at a time when lawmakers are considering legislation to regulate the technology.

In addition to the Consensys case, the SEC said it intended to drop enforcement actions or investigations into Ripple, Kraken, Robinhood and Coinbase. The three firms donated a combined $9 million to the inauguration fund.

Related: Trump’s next crypto play will be Monopoly-style game — Report

The 2024 US election cycle saw crypto-backed political action committees (PACs) spending more than $131 million to influence races in crucial congressional districts. The Fairshake PAC has already said it had more than $100 million available, in part from contributions from Coinbase and Ripple, to spend on the 2026 midterms. 

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

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