Humza Yousaf resigns as Scotland’s first minister

Published

1 year ago

April 29, 2024

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Humza Yousaf has resigned as Scotland’s first minister after cutting ties with his government’s power-sharing partners.

The leader of the SNP, who only took on the role in March last year, has been at the centre of a chaotic few days in Holyrood after he made the surprise announcement to end his power-sharing deal with the Scottish Green Party on Thursday.

Mr Yousaf cut ties following a bitter row over the SNP’s climbdown on climate targets as he said the agreement between the parties had “served its purpose”.

But as a result, his former Green allies teamed up with the Conservatives, Labour and Liberal Democrats to get behind two no-confidence motio ns, one in himself as leader of Scotland and another regarding the entire Scottish government.

Ahead of any of those votes taking place, Mr Yousaf stepped down as Scotland’s first minister just after midday on Monday as he said he was “not willing to treat my values and principles or do deals with whomever simply for retaining power”.

He said he will remain in post until a replacement first minister is chosen.

Over the weekend, Mr Yousaf insisted he would not resign but by Monday morning his tune had changed and Sky News was told he was considering resigning.

He was due to meet the Alba Party’s sole MSP, Ash Regan, who was set to make demands in exchange for her support during a confidence vote. Her vote could have been the decider but he chose to step down before it came to that.

Announcing he was quitting, Mr Yousaf said he “clearly underestimated the level of heart and upset” he caused the Greens when he cut ties with them.

“To my colleagues in opposition, regardless of political party, genuinely, I bear no ill will and certainly no grudge against anyone,” he said as his voice broke while thanking his wife, children and family for “putting up with me over the years”.

Mr Yousaf said it had been “an honour” to serve as first minister of Scotland and it was a role he “could never have dreamt” of as a young boy growing up there.

The politician, whose parents are Pakistani and Kenyan, also said he is evidence multiculturalism has flourished in the UK.

“People who looked like me were not in positions of political influence, let alone leading governments, when I was younger,” he said.

“We now live in a UK that has a British Hindu prime minister, a Muslim mayor of London, a black Welsh first minister, and for a little while longer a Scottish Asian first minister of this country.

“So for those who decry that multiculturalism has failed across the UK, I would suggest that the evidence is quite to the contrary and that is something we should all celebrate.”

Mr Yousaf said he was proud to have overseen “the most progressive” tax system in the UK and played a part in lifting an expected 100,000 children out of poverty this year.

He added that he will continue to campaign for independence, which he said “feels frustratingly close” and he is “absolutely certain” his successor will achieve it.

The race to replace Mr Yousaf has now commenced, with several names in the fray, although none have officially declared they have thrown their hats in the ring.

Close ally of Mr Yousaf, John Swinney, former deputy leader under Nicola Sturgeon, is being touted as the favourite.

Stephen Flynn, the SNP’s Westminster leader, has also been mentioned as has Kate Forbes who lost out to Mr Yousaf during last year’s leadership contest.

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Politics

Justin Sun to attend Trump’s dinner with memecoin backers

Published

3 hours ago

May 20, 2025

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<div>Justin Sun to attend Trump's dinner with memecoin backers</div>

After weeks of speculation among crypto enthusiasts and news outlets, Tron founder Justin Sun has claimed he owns the wallet that purchased the largest amount of Donald Trump’s memecoin, allowing him to qualify for a dinner and reception with the US president.

In a May 19 X post, Sun said he had received an invitation to attend Trump’s dinner at his golf club outside Washington, DC, as part of a reward for the top 220 memecoin holders. The Tron founder claimed he controlled the top wallet on the TRUMP token leaderboard under the username “Sun,” which held roughly $19 million worth of the memecoin at a price of $13.20.

According to Sun, he plans to network at the May 22 memecoin dinner, “talk crypto,” and “discuss the future” of the industry. It’s unclear why the Tron founder chose to announce his planned presence at the event now, when the leaderboard was finalized on May 12.

Cointelegraph reached out to a spokesperson for Sun for comment, but had not received a response at the time of publication.

Politics, Donald Trump, Corruption, Justin Sun, Memecoin — *Source:* *Justin Sun*

Though not a surprise to many who speculated that Sun was the individual behind the memecoin purchases, his attendance at the dinner only deepens his ties to the Trump administration and the president’s family. In addition to the dinner for the 220 tokenholders, Trump said he would hold a reception and “VIP tour” for the top 25 wallets on the leaderboard.

Sun spent $75 million on tokens through World Liberty Financial, the crypto platform backed by Trump’s three sons, including a $30 million investment a few weeks after the 2024 election. The Tron founder is also an adviser to the company.

Before Trump won the November election, Sun had been facing a lawsuit from the US Securities and Exchange Commission (SEC) filed in 2023 over the alleged “orchestration of the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities.” In February, roughly a month after Trump took office and appointed Commissioner Mark Uyeda as acting chair of the SEC, the regulator and Sun jointly filed a motion for a federal judge to stay the case, which was granted.

Memecoin’s potential conflicts of interest are affecting Congress

Sun’s and others’ involvement in Trump’s crypto ventures has prompted calls for investigations and oversight among many Democratic lawmakers, who argued that some individuals could use digital assets to essentially purchase influence with the president. The concerns initially slowed progress on a bill to regulate stablecoins in the Senate, the GENIUS Act, complicated by World Liberty Financial’s own stablecoin, USD1. The chamber voted to move forward on the bill on May 19, a few hours before Sun’s announcement.

“How convenient: the day after the Senate advances the GENIUS Act, Justin Sun — a major investor in the Trump family crypto venture — announces he’s getting a private dinner as the president’s top crypto buyer,” said Massachusetts Senator Elizabeth Warren, according to Bloomberg. “It’s critical that everyone understands the GENIUS Act doesn’t stop this type of corruption — it greenlights it.”

At a May 20 oversight hearing, Maryland Representative Glenn Ivey questioned SEC Chair Paul Atkins on Sun’s case being stayed, as well as his investments in World Liberty Financial and Trump’s memecoin. Though the case was stayed before Atkins was sworn in as chair, Ivey expressed concern about the timeline between Sun’s investments and the SEC not pursuing its own enforcement action.

The memecoin dinner applicants are likely still subject to background checks before meeting Trump in person. As of May 20, those planning to attend included Kronos Research chief investment officer Vincent Liu, Hyperithm co-CEO Oh Sangrok, Synthetix founder Kain Warwick, a consultant named Vincent Deriu, crypto user Morten Christensen, a World Liberty Financial adviser going by the pseudonym “Ogle,” and a representative from the startup MemeCore.

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

Politics

Shouts of ‘genocide’ in Commons as David Lammy denounces Israel’s ‘intolerable’ actions in Gaza

Published

5 hours ago

May 20, 2025

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Shouts of 'genocide' in Commons as David Lammy denounces Israel's 'intolerable' actions in Gaza

The foreign secretary has denounced Israel’s actions in Gaza as “intolerable” but stopped short of saying it had committed genocide.

MPs could be heard shouting “genocide” in the Commons chamber as David Lammy announced the government was suspending its trade negotiations with Israel and summoning Tzipi Hotovely, Israel’s ambassador to the UK, to the Foreign Office.

The UK has also sanctioned a number of individuals and groups in the West Bank which it says have been linked with acts of violence against Palestinians – including Daniella Weiss, a leading settler activist who was the subject of Louis Theroux’s recent documentary The Settlers.

Politics latest: Starmer says sorry for being ‘overly rude’ at PMQs

Israel immediately criticised the UK government actions as “regrettable” and said the free trade agreement talks, which ministers have now backed out of, were “not being advanced at all by the UK government”.

Oren Marmorstein, a spokesperson for the Israeli foreign affairs ministry, said: “If, due to anti-Israel obsession and domestic political considerations, the British government is willing to harm the British economy – that is its own prerogative.”

Mr Lammy’s intervention came in response to Israel ramping up its latest military offensive in Gaza and its decision to limit the amount of aid into the enclave.

Tom Fletcher, head of the UN Office for the Coordination of Humanitarian Affairs, accused Israel of “deliberately and unashamedly” imposing inhumane conditions on Palestinians by blocking aid from entering Gaza more than 10 weeks ago.

He also told the UN’s security council last week that it must “act now” to “prevent genocide” – a claim that Israel has vehemently denied.

Speaking in the Commons, the foreign secretary said the threat of starvation was “hanging over hundreds of thousands of civilians” and that the 11-week blockade stopping humanitarian aid reaching Gaza was “indefensible and cruel”.

Israeli Prime Minister Benjamin Netanyahu has agreed to allow a limited amount of aid into the besieged enclave in response to global concern at reports of famine.

Mr Lammy said Mr Netanyahu’s govenrment was “isolating Israel from its friends and partners around the world, undermining the interests of the Israeli people and damaging the image of the state of Israel in the eyes of the world”.

“We are now entering a dark new phase in this conflict,” Mr Lammy added.

“Netanyahu’s government is planning to drive Gazans from their homes into a corner of the strip to the south and permit them a fraction of the aid that they need.”

Referring to one of the far-right ministers in Mr Netanyahu’s government, he said Bezalel Smotrich “even spoke of Israeli forces cleansing Gaza, destroying what’s left of residents, Palestinians being relocated, he said, to third countries”.

MPs from across the house shouted “genocide” as Mr Lammy said: “We must call this what it is. It is extremism. It is dangerous. It is repellent. It is monstrous and I condemn it in the strongest possible terms.”

In the Commons, a number of Labour MPs urged the government to go further against Israel.

Yasmin Qureshi, the Labour MP for Bolton South and Walkden, said there needed to be a “full arms embargo” and said: “Can I ask the foreign secretary what additional steps he’s going to be taking in order to stave off this genocide?”

Another Labour MP told Sky News that while the statement was “better than previously…without a concrete timeline and a sanctioning of responsible ministers, it’s hard to know what tangible difference it will make.”

Israeli officials have said its plans to seize all of Gaza and hold it indefinitely. – which would move the civilian population southward – will help it achieve its aim of defeating Hamas.

Israel also believes the offensive will prevent Hamas from looting and distributing humanitarian aid, which it says strengthens the group’s rule in Gaza.

Mr Netanyahu has defended Israel’s actions in Gaza and reacted angrily to a joint statement penned by the leaders of the UK, France and Canada, in which they urged Israel to end its military offensive in Gaza and lift restrictions on humanitarian aid allowed into the enclave.

The Israeli prime minister said: “By asking Israel to end a defensive war for our survival before Hamas terrorists on our border are destroyed and by demanding a Palestinian state, the leaders in London, Ottawa and Paris are offering a huge prize for the genocidal attack on Israel on October 7 while inviting more such atrocities.

“No nation can be expected to accept anything less and Israel certainly won’t. This is a war of civilisation over barbarism. Israel will continue to defend itself by just means until total victory is achieved.”

Politics

SEC crypto task force to release first report ‘in the next few months’

Published

7 hours ago

May 20, 2025

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<div>SEC crypto task force to release first report 'in the next few months'</div>

US Securities and Exchange Commission (SEC) Paul Atkins appeared before lawmakers in one of his first hearings since becoming chair of the financial regulator, addressing questions about his plans for the cryptocurrency industry.

In a May 20 hearing discussing oversight of the SEC, Atkins reiterated his pledge to make regulating digital assets a “key priority” while chair. In response to questions from North Carolina Representative Chuck Edwards, the SEC chair did not directly answer how much of the regulator’s funds were used to support the crypto task force headed by Commissioner Hester Peirce, and said its findings were “still under development.”

“We should be having something here in the next few months with proposed steps forward,” said Atkins in response to the task force’s first report.

Cryptocurrencies, Government, SEC, United States — *Paul Atkins at a May 20 SEC oversight hearing. Source:* *House Appropriations Committee*

The SEC chair’s appearance at the oversight hearing was one of his first since being sworn into office in April. Nominated by Donald Trump, Atkins, also a former commissioner, was seen by many lawmakers and those in the digital asset industry as someone who could radically change the SEC’s approach to crypto.

Looking to Congress for help with regulatory clarity

Atkins’ remarks came less than 24 hours after US Senators voted to move forward on consideration of a bill to regulate stablecoins, the Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act. The bill is one of many related to aspects of digital assets that could affect how the SEC regulates the industry alongside agencies like the Commodity Futures Trading Commission (CFTC).

“Whatever happens in Congress […] that will help undergird what we do,” said Atkins.

Since being sworn into office in April, the SEC chair has given opening remarks and overseen the commission’s roundtable events on digital assets. The next event, scheduled for June 9, will have SEC commissioners and industry leaders discuss issues related to decentralized finance.

Magazine: SEC’s U-turn on crypto leaves key questions unanswered