Target Towns: Voters in Grimsby have their say on Politics Hub With Sophy Ridge

Published

1 year ago

April 26, 2024

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Voters in Grimsby – one of Sky News’s election Target Towns – have been offering their views on politics, politicians and “broken promises”.

The electoral battle in Grimsby and Cleethorpes, the Target Towns, will be fierce. Labour will need an 11.7 point swing to win this newly-merged constituency back from the Conservatives.

In 2019, residents in Grimsby voted Tory for the first time since the end of the Second World War. The old Cleethorpes constituency was always more of a bellwether, having voted Conservative since 2010.

However, it has shed some of its rural, Conservative-voting residents in the merger.

Politics live: Why have politicians lost people’s trust?

Speaking on the Politics Hub With Sophy Ridge, small business owner Shannon said she might not vote in the next general election later this year as she “just can’t trust anything anybody says”.

She said she has felt this way since Brexit – something Grimsby was overwhelmingly in support of – because “we were promised ‘x’ and ‘y’ and it hasn’t happened, so I’m just totally disengaged from it”.

Asked whether local MPs on the panel – Conservative Lia Nici and Labour’s Melanie Onn – could change her mind, Shannon said “possibly”, but reiterated how let down local people feel.

“We’re promised a lot, but it’s never delivered,” she said. “Talk of things happening… and then it doesn’t happen and people are just fed up… have been told this is what we’re going to get, but it doesn’t actually happen. And that’s why people have just lost faith.”

‘Lack of leadership’

Steven told Sophy Ridge that he will “force” himself to vote at the election as “you should”, but he doesn’t believe there is anyone worth voting for.

“I find politics almost unbelievable,” he added. “It’s nothing to believe in. There’s no one to believe in.”

He puts the blame down to a “lack of leadership nationally” and that the current crop of politicians “lack the statesmanship” needed.

“The politicians that we looked up to and respected as children and young people seem to have vanished,” he added. “It seems to be petty about scandal, backbiting.

“I think there are important issues that need to be addressed in this country, and I think turn on the television or watch debates, and that seems to be sorely lacking in politics at the moment.”

‘Start caring about us’

Sarah used a former US president to express her upset at the state of politics today, telling Sophy Ridge: “I think Ronald Regan said it best – the most terrifying words in the English language are, ‘I’m from the government and I’m here to help’, which I think is basically what most people think about the intervention of either Labour or a Conservative government.”

She said neither party had done anything for the town during their stints in power, and despite growing up in Grimsby, she was keen to leave as a result.

“It’s a shame really, because, you know, my family is from here, I’ve lived most of my life here, so it should be a place that is going to be a draw for young people – especially when you look at the housing prices.

“We just went to Liverpool in February and that’s such a wonderful city, you know, it’s like apples and oranges. But you look at what’s going [in Grimsby] and… the town centre is all fake shops or barbers or charity shops.

“No one does care about us and at the end of the day you can vote for any politician, but when they start caring about us, maybe we’ll care back.”

Stark and bleak view from Target Town voters

The battle for a town that no one there wants.

Sky News is reporting from Grimsby in the run up to the general election as one of its ‘Target Towns’ – a key constituency prized by both Conservatives and Labour – Great Grimsby and Cleethorpes.

But it turns out that Grimsby doesn’t really want them.

It hasn’t always been a town doused in apathy. In 2016, 70% of people here voted to leave the EU – one of the highest results in the country – and in the 2019 election, the constituency turned Tory for the first time since the Second World War.

But five years on, polling by Sky News found that since then, the number of people saying they “almost never” trust the British government to place the needs of the nation above the interests of their own party has nearly doubled – from 26% to 49%.

It’s a stark but bleak view. Voters tonight described both leaders as uninspiring and uninteresting.

When asked what they make of the current prime minister, words like ‘weak’ and ‘performative’ were used. Voters couldn’t make their mind up about the Labour leader, saying they were unsure about him or his policies.

The lack of a clear dividing line between the two parties could be a problem in the general election, especially as both parties have been trying to show a bit more leg this week ahead of a fully fledged election campaign.

Labour have shown a hint of more radical policies today, with their announcement on aiming to nationalise railways within five years. But have they waited a bit too long to impress the people of Grimsby?

The Conservatives ratified their Rwanda policy into law today, but voters here weren’t hugely enthused by that either. One member of the audience tonight proclaiming they care much more about housing and the environment. They asked – why is the centre of political debate about Rwanda and a policy we don’t really care about?

Apathy might override this election.

‘We fight for your town’

So what did the politicians have to say in response?

Both the Tory and Labour MPs accepted their roles in the downbeat feelings, with Ms Onn saying: “I do think I’m part of a system that bears responsibility for not communicating politics well, not engaging with people, not making them feel that they are heard enough through the course of our debates.

“I think the British public at large probably deserve to hear people occasionally say we haven’t always been as good as we could.”

But Ms Nici insisted it was not all just sniping in parliament and MPs do care about what happens to their constituents – and the country.

“What your MP does is go out, have a look at the legislation and then fight for your town,” she said. “I work hard every day to make sure that I’m listening to what you want and to be able to represent that right at the heart of at Grimsby.”

And both MPs agreed the town had a great future ahead after the next election. But it will be for the Shannons, Stevens and Sarahs to decide who stands up for them after the next election.

Politics

Solana’s Loopscale pauses lending after $5.8M hack

Published

3 hours ago

April 26, 2025

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<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.

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.

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

Politics

US Senator calls for Trump impeachment, cites memecoin dinner

Published

6 hours ago

April 26, 2025

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US Senator calls for Trump impeachment, cites memecoin dinner

United States Senator Jon Ossoff expressed support for impeaching President Donald Trump during an April 25 town hall, citing the President’s plan to host a private dinner for top Official Trump memecoin holders.

“I mean, I saw just 48 hours ago, he is granting audiences to people who buy his meme coin,” said Ossoff, a Democrat, according to a report by NBC News.

“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.”

Senator Ossoff said he “strongly” supports impeachment proceedings during a town hall in the state of Georgia, where he is running for reelection to the Senate.

The Senator added that an impeachment is unlikely unless the Democratic Party gains control of Congress during the US midterm elections in 2026. Trump’s own Republican Party currently has a majority in both the House of Representatives and the Senate.

Conflicts of interest

On April 23, the Official Trump (TRUMP) memecoin’s website announced plans for Trump to host an exclusive dinner at his Washington, DC golf club with the top 220 TRUMP holders.

The website subsequently posted a leaderboard tracking top TRUMP wallets and a link to register for the event. The TRUMP token’s price has gained more than 50% since the announcement, according to data from CoinMarketCap.

The specific guest list is unclear, but the memecoin’s website states that applicants must pass a background check, “can not be from a [Know Your Customer] watchlist country,” and cannot bring any additional guests.

On April 25, the team behind TRUMP denied social media rumors that TRUMP holders need at least $300,000 to participate in an upcoming dinner with the president.

“People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote.

Law, Politics, Senate, Donald Trump, trumpcoin, Memecoin — *The TRUMP token jumped on news of the private dinner plans. Source:* *CoinMarketCap*

Legal experts told Cointelegraph that Trump’s cryptocurrency ventures, including the TRUMP memecoin and Trump-affiliated decentralized finance (DeFi) protocol World Liberty Financial, raise significant concerns about potential conflicts of interest.

“Within just a couple of days of him taking office, he’s signed a number of executive orders that are significantly going to affect the way that our crypto and digital assets industry works,” Charlyn Ho of law firm Rikka told Cointelegraph in February.

“So if he has a personal pecuniary benefit arising from his own policies, that’s a conflict of interest.”

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

Politics

Crypto sentiment recovers, but weekend liquidity risks remain

Published

9 hours ago

April 26, 2025

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Crypto sentiment recovers, but weekend liquidity risks remain

Crypto investor sentiment has seen a significant recovery from global tariff concerns, but analysts warn that the market’s structural weaknesses may still result in downside momentum during periods of weekend illiquidity.

Risk appetite appeared to return among crypto investors this week after US President Donald Trump adopted a softer tone, saying that import tariffs on Chinese goods may “come down substantially.”

However, the improved investor sentiment “does not guarantee that Bitcoin will avoid volatility over the weekend,” analysts from Bitfinex exchange told Cointelegraph:

“Sentiment improvements reduce fragility, but they do not eliminate structural risks like thin weekend liquidity.”

“Historically, weekends remain vulnerable to sharp moves — especially when open interest is high and market depth is low,” the analysts said, adding that unexpected macroeconomic news can still increase volatility during low liquidity periods.

Bitcoin (BTC) staged a near 11% recovery during the past week, but its rally has previously been limited by Sunday liquidity dynamics.

Bitcoin fell below $75,000 on Sunday, April 6, despite initially decoupling from the US stock market’s $3.5 trillion drop on April 4 after US Federal Reserve Chair Jerome Powell warned that Trump’s tariffs may affect the economy and raise inflation.

The correction was exacerbated by the lack of weekend liquidity and the fact that Bitcoin was the only large liquid asset available for de-risking, industry watchers told Cointelegraph.

“While improved sentiment creates a more stable foundation, cryptocurrency markets are still susceptible to rapid movements during periods of reduced trading volume,” according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone blockchain oracle firm.

“The sentiment recovery provides some cushioning, but traders should remain cautious as weekend liquidity constraints can still amplify price movements regardless of the current market mood,” he told Cointelegraph.

Crypto investors may have “maxed out on tariff-related fears”

Cryptocurrency markets may have priced in the full extent of tariff-related concerns, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.

“It feels like we’ve maxed out on tariff-related fear,” she told Cointelegraph, adding:

“While many remain uncertain about where things are headed over the next month or so, it also seems like markets were just waiting for the slightest signal that we’re back in the game.”

“Whether the rally is sustainable depends on whether we can break through previous resistance levels, at least in isolation. It could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar and US Treasurys,” Barthere added, warning of more potential volatility amid the upcoming negotiations.

Nansen previously predicted a 70% chance that crypto markets will bottom and start a recovery by June, but highlighted that the timing will depend on the outcome of tariff negotiations.

The tariff negotiations may only be “posturing” for the US to reach a trade agreement with China, which may be the “big prize” for Trump’s administration, according to Raoul Pal, founder and CEO of Global Macro Investor.