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Scotland’s First Minister Humza Yousaf is battling to save his job as he faces a knife-edge no-confidence vote.

The SNP leader triggered a crisis at Holyrood after he dramatically brought the power sharing deal with the Scottish Greens to an end.

Follow live updates in the Politics Hub

The backlash has plunged Mr Yousaf’s future into doubt, although party colleagues insist he will not resign.

Watch live as Humza Yousaf gives evidence this afternoon as the Scottish Covid-19 Inquiry continues.

How did we get here?

The Bute House Agreement – signed back in 2021 and named after the first minister’s official residence in Edinburgh – brought the Green Party into government for the first time anywhere in the UK.

It gave the SNP a majority at Holyrood when the votes of its MSPs were combined with those of the seven Green members, and also made Green co-leaders Patrick Harvie and Lorna Slater junior ministers.

More on Humza Yousaf

Without it, the SNP would need to have operated as a minority administration at Holyrood.

What caused the relationship to sour?

There had been mounting tensions between the largest party at Holyrood and their junior partners in government.

The Greens were angered at the SNP-led administration’s recent decision to ditch a key climate change target.

That, combined with the decision to pause the prescription of new puberty blockers to under-18s at Scotland’s only gender clinic, resulted in the Greens announcing they would have a vote on the future of the power sharing deal.

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‘I intend to fight that vote’

What brought things to a head?

Mr Yousaf decided to pull the plug on the agreement – arguing it had “served its purpose” – prompting a major fallout with his former allies, who vowed to back a no-confidence motion in his leadership proposed by Scottish Conservative leader Douglas Ross.

So how do the numbers stack up?

Tight to say the least.

As the leader of a now minority government, Mr Yousaf’s fate is set to depend on just one vote – that of a former SNP leadership rival.

In the Scottish parliament, the SNP has 63 seats out of 129, two short of an outright majority.

The Greens voting in favour of the no-confidence motion would mean 64 MSPs do not back the first minister.

The presiding officer Alison Johnstone, the equivalent of the Commons speaker, traditionally does not vote and would only so so in the event of a tiebreak and would be expected to support the status quo – so back the first minister.

That leaves Ash Regan, the one-time SNP leadership rival to Mr Yousaf who defected to Alex Salmond’s Alba Party last October.

She has written to the first minister, setting out demands in exchange for her support.

Ash Regan. Pic: PA
Image:
Ash Regan. Pic: PA

When will the vote be held?

Any no-confidence vote in Mr Yousaf is likely to take place next week, with timings to be confirmed by parliamentary business managers who are expected to meet on Tuesday.

What happens if Mr Yousaf loses?

The vote is not binding and so he would not be forced to step down – but he would be under immense pressure to quit, and his position likely to be judged untenable if he did not have the confidence of most MSPs.

However, the resignation of the first minister would not automatically trigger a Holyrood election, with a 28-day grace period for MSPs to choose a replacement.

This means that if Mr Yousaf was to quit, the SNP may seek to have a replacement leader installed in the post – assuming they could muster enough support.

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Is that all?

No. Scottish Labour leader Anas Sarwar says he will separately lay a motion of no confidence in the Scottish government.

While this carries more far-reaching implications by compelling ministers to resign and raising the prospect of an election, it is unlikely to succeed.

Alba has already ruled out its pivotal support, accusing Mr Sarwar of “grandstanding”.

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US crypto rules like ‘floor is lava’ game without lights — Hester Peirce

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<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

SEC Commissioner and head of the crypto task force, Hester Peirce, says US financial firms are navigating crypto in a way that’s similar to playing the children’s game “the floor is lava,” but in the dark.

“It is time that we find a way to end this game. We need to turn on the lights and build some walkways over the lava pit,” Peirce said at the SEC “Know Your Custodian” roundtable event on April 25.

The lava is crypto, says Peirce

Peirce explained that SEC registrants are forced to approach crypto-related activities like “the floor is lava,” where the aim is to jump from one piece of furniture to the next without touching the ground, except here, touching crypto directly is the lava.

“A D.C. version of this game is our regulatory approach to crypto assets, and crypto asset custody in particular,” she said.

Peirce said that, much like in the game, firms wanting to engage with crypto must avoid directly holding it due to unclear regulatory rules. “To engage in crypto-related activities, SEC-registrants have had to hop from one poorly illuminated regulatory space to the next, all while ensuring that they never touch any crypto asset,” Peirce said.

Cryptocurrencies, SEC, United States
Source: US Securities and Exchange Commission

Peirce said that investment advisers are often unsure which crypto assets qualify as securities, what entities count as qualified custodians, and whether “exercising staking or voting rights” could trigger custody violations.

“The twist in the regulatory version is that it is largely played in the dark: burning legal lava and no lamps to illuminate the way.”

Peirce also said that a broker or ATS that cannot custody or manage crypto assets will struggle to facilitate trading, making it unlikely for a “robust market” to develop.

Echoing a similar sentiment, SEC Commissioner Mark Uyeda said at the event that as more SEC registrants work with crypto assets, it’s essential that they have access to custodial options that meet legal and regulatory requirements.

Uyeda said the agency should consider letting advisers use “state-chartered limited-purpose trust companies” with the authority to hold crypto assets as qualified custodians.

Related: Blockchain needs regulation, scalability to close AI hiring gap

Meanwhile, the recently sworn-in chair of the SEC, Paul Atkins, said that 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.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 19 – 25

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Labour and Reform in battle for Runcorn by-election seat – but disillusionment could be eventual winner

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Labour and Reform in battle for Runcorn by-election seat - but disillusionment could be eventual winner

On the banks of the Mersey, Runcorn and Helsby is a more complicated political picture than the apparent Labour heartland that first presents itself.

Yes, there are industrial and manufacturing areas – an old town that’s fallen victim to out-of-town shopping, and an out-of-town shopping centre that’s fallen victim to Amazon.

But there are also more middle-class new town developments, as well as Tory-facing rural swathes.

Space Café director Marie Moss says a sense of community has faded
Image:
Space Cafe director Marie Moss says a sense of community has faded

One thing this area does mirror with many across the country, though, is a fed-up electorate with little confidence that politics can work for them.

In the Space Cafe in Runcorn Old Town, its director Marie Moss says many in the region remember a time when a sense of community was more acute.

“People were very proud of their town… and that’s why people get upset and emotional as they remember that,” she says.

It’s this feeling of disenfranchisement and nostalgia-tinged yearning for the past that Reform UK is trading off in its targeting of traditional Labour voters here.

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Party leader Nigel Farage features heavily on leaflets in these parts, alongside spikey messaging around migration, law and order, and Labour’s record in government so far.

Runcorn 2024 result
Image:
Runcorn 2024 result

Taxi driver Mike Holland hears frequent worries about that record from those riding in the back of his cab.

A Labour voter for decades, he says locals were “made up” at last year’s election result but have been “astonished” since then, with benefit changes a common topic of concern.

“Getting a taxi is two things, it’s either a luxury or a necessity… the necessity people are the disabled people… and a lot of the old dears are so stressed and worried about their disability allowance and whether they are going to get it or not get it,” he says.

But will that mean straight switchers to Reform UK?

Taxi driver Mike Holland has voted for Labour for decades, but is looking at the Liberal Democrats and Greens, or may not vote
Image:
Taxi driver Mike Holland has voted for Labour for decades, but is now looking at the Lib Dems and Greens – or may not vote at all

Mike says he agrees with some of what the party is offering but thinks a lot of people are put off by Mr Farage.

He’s now looking at the Liberal Democrats and Greens, both of whom have put up local politicians as candidates.

Or, Mike says, he may just not vote at all.

It’s in places like Runcorn town that some of the political contradictions within Reform UK reveal themselves more clearly.

Many here say they were brought up being told to never vote Tory.

And yet, Reform, chasing their support, has chosen a former Conservative councillor as its candidate.

It’s no surprise Labour has been trialling attack lines in this campaign, painting Mr Farage’s party as “failed Tories”.

As a response to this, look no further than Reform’s recent nod to the left on industrialisation and public ownership.

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Read more:
Tough test for Labour after MP quits
MP jailed for late-night brawl
Local elections could re-shape politics

But head 15 minutes south from Runcorn docks, and this by-election campaign changes.

Rural areas like Frodsham and Helsby have, in the past, tended towards the Tories.

The Conservatives, of course, have a candidate in this vote, one who stood in a neighbouring constituency last year.

But Reform is now making a hard play for their supporters in these parts, with a softer message compared to the one being put out in urban areas – an attempt to reassure those anxious about too much political revolution coming to their privet-lined streets.

Labour, meanwhile, is actively trying to mobilise the anti-Farage vote by presenting their candidate – another local councillor – as the only person who can stop Reform.

Nadine Tan is concerned about division and anger in the community
Image:
Makeup artist Nadine Tan is concerned about division and anger in the community

The pitch here is aimed at voters like Frodsham makeup artist Nadine Tan, who are worried about division and anger in the community.

“I think they need to kind of come together and stop trying to divide everyone,” she says.

But like Mike the taxi driver five miles north, disillusionment could be the eventual winner as Nadine says, despite the “thousands of leaflets” through her door, she still thinks “they all say the same thing”.

One factor that doesn’t seem to be swinging too many votes, though, is the insalubrious circumstances in which the area’s former Labour MP left office.

Suspended Labour MP Mike Amesbury walks outside Chester Magistrates Court.
Pic: Reuters
Image:
Labour MP Mike Amesbury was convicted of punching a man in the street. Pic: Reuters

Mike Amesbury stepped down after being convicted of repeatedly punching a constituent in a late-night brawl outside a pub.

But across the patch, many praise their ex-MP’s local efforts, while also saying he was “very silly” to have acted in the way he did.

That may be putting it mildly.

But it’s hard to find much more agreement ahead of Thursday’s vote.

A constituency still hungry for change, but unsure as to who can deliver it.

Full list of candidates, Runcorn and Helsby by-election:

Catherine Anne Blaiklock – English Democrats
Dan Clarke – Liberal Party
Chris Copeman – Green Party
Paul Duffy – Liberal Democrats
Peter Ford – Workers Party
Howling Laud Hope – Monster Raving Loony Party
Sean Houlston – Conservatives
Jason Philip Hughes – Volt UK
Alan McKie – Independent
Graham Harry Moore – English Constitution Party
Paul Andrew Murphy – Social Democratic Party
Sarah Pochin – Reform UK
Karen Shore – Labour
John Stevens – Rejoin EU
Michael Williams – Independent

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Solana’s Loopscale pauses lending after $5.8M hack

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<div>Solana's Loopscale pauses lending after .8M hack</div>

<div>Solana's Loopscale pauses lending after .8M hack</div>

Solana decentralized finance (DeFi) protocol Loopscale has temporarily halted its lending markets after suffering an approximately $5.8 million exploit. 

On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne said in an X post. 

The exploit only impacted Loopscale’s USDC and SOL vaults and the losses represent around 12% of Loopscale’s total value locked (TVL), Gooneratne added. 

Loopscale is “working to resume repayment functionality as soon as possible to mitigate unforeseen liquidations,” its said in an X post. 

“Our team is fully mobilized to investigate, recover funds, and ensure users are protected,” Gooneratne said.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s ‘Genesis’ lending vaults. Source: Loopscale

In the first quarter of 2025, hackers stole more than $1.6 billion worth of crypto from exchanges and on-chain smart contracts, blockchain security firm PeckShield said in an April report. 

More than 90% of those losses are attributable to a $1.5 billion attack on ByBit, a centralized cryptocurrency exchange, by North Korean hacking outfit Lazarus Group.

Related: Crypto hacks top $1.6B in Q1 2025 — PeckShield

Unique DeFi lending model

Launched on April 10 after a six-month closed beta, Loopscale is a DeFi lending protocol designed to enhance capital efficiency by directly matching lenders and borrowers.

It also supports specialized lending markets, such as “structured credit, receivables financing, and undercollateralized lending,” Loopscale said in an April announcement shared with Cointelegraph. 

Loopscale’s order book model distinguishes it from DeFi lending peers such as Aave that aggregate cryptocurrency deposits into liquidity pools.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s daily active users. Source: Mary Gooneratne

Loopscale’s main USDC and SOL vaults yield APRs exceeding 5% and 10%, respectively. It also supports lending markets for tokens such as JitoSOL and BONK (BONK) and looping strategies for upwards of 40 different token pairs. 

The DeFi protocol has approximately $40 million in TVL and has attracted upwards of 7,000 lenders, according to researcher OurNetwork.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

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