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The government at one point considered using Iraq to process asylum seekers – like the Rwanda scheme – according to documents seen by Sky News.

This could have seen people sent from the UK to a country the government advises against all travel to.

The two countries already have a returns agreement – but only for people that are from Iraq.

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According to leaked correspondence between high-ranking officials, the Iraqi returns commitments were made with a “request for discretion” and no publicity.

The country was willing to move forward but did not want a formal or public agreement.

The current travel advice to Iraq on the Foreign Office website simply advises against “all travel to parts of Iraq”. However, according to the document, negotiations were fairly advanced and described in one table as “good recent progress with Iraq”.

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Other government aims included enhancing cooperation with the Iranian Embassy in order to enhance returns arrangements for migrants and potential asylum seekers.

Returns agreements are also in the works for Eritrea and Ethiopia, according to documents about work undertaken by the Home Office and Foreign Office that relates to countries with the highest number of nationals arriving to the UK by small boats.

In a tranche of internal government documents seen by Sky News, even from the earliest stage of the Rwanda policy, Downing Street advisers knew there were serious problems with their proposals.

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First Rwanda relocation raids carried out

There are even private admissions that many people arriving here on small boats did so without the assistance of criminal gangs – despite their communications strategy.

Comparisons were also made to Australia’s response – to what Downing Street officials understood to be a comparable “smaller problem” than in the UK and admitted it had cost billions of Australian dollars in order for their returns processes to be fully operational.

Read more:
Man, 38, arrested in connection with small boat crossings
Sunak says migrants going to Ireland shows Rwanda scheme is working

In one document submitted to the Home Office, some of the highest-ranking officials at the time wrote that their guidance was to be “prepared to pay over the odds” to get the policy up and running. And that the initial offer from Rwanda was a “modest sum”.

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Whitehall’s official spending watchdog has priced the cost of sending asylum seekers to Rwanda at £1.8m per person for the first 300 people the government deports to Kigali.

It also disclosed that since April 2022 the Home Office has paid £220m into Rwanda’s economic transformation and integration fund, which is designed to support economic growth in Rwanda, and will continue to make payments to cover asylum processing and operational costs for individuals relocated to Rwanda.

It will also pay further amounts of £50m over the next year and an additional £50m the following year.

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A government source said: “The Home Office is spending millions every day accommodating migrants in hotels – that’s not right or fair. We’re taking action to put an end to this costly and dangerous cycle. Doing nothing is not a free option – we must act if we want to stop the boats and save lives.

“The UK is continuing to work with a range of international partners to tackle global illegal migration challenges. Our Rwanda partnership is a pioneering response to the global challenge of illegal migration, and we will get flights off the ground to Rwanda in the next nine to eleven weeks.”

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Labour suspends MP Dan Norris after arrest

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Labour MP Dan Norris arrested on suspicion of rape and child sex offences

The Labour Party has suspended its MP Dan Norris after “being informed of his arrest”.

A Labour Party spokesperson said: “Dan Norris MP was immediately suspended by the Labour Party upon being informed of his arrest.

“We cannot comment further while the police investigation is ongoing.”

Mr Norris defeated Jacob Rees-Mogg to win the new seat of North East Somerset and Hanham in last year’s general election.

He has also lost the party whip in the House of Commons.

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

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Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.

The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.

While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.

According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Source: Web.archive.org

Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.

The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph

Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.

Related: Bitcoin at 16: From experiment to trillion-dollar asset

Nakamoto’s legacy: a “cornerstone of economic sovereignty”

At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.

“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding: 

“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”

However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.

Related: Bitcoin’s next catalyst: End of $36T US debt ceiling suspension

Is Satoshi Nakamoto wealthier than Bill Gates?

In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.

Satoshi Nakamoto turns 50 as Bitcoin becomes US reserve asset

Satoshi’s new addresses. Source: Conor Grogan

If accurate, this would make Nakamoto the world’s 16th richest person.

Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.

Magazine: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’

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Wall Street’s one-day loss tops the entire crypto market cap

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Wall Street’s one-day loss tops the entire crypto market cap

Wall Street’s one-day loss tops the entire crypto market cap

The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.

On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.

Nasdaq 100 is now “in a bear market”

Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.

The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.

“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”

Nasdaq, United States, Stocks

Source: Anthony Scaramucci

On April 2, Trump signed an executive order establishing reciprocal tariffs on trading partners and a 10% baseline tariff on all imports from all countries.

Trump said the reciprocal tariffs will be roughly half the rate US trading partners impose on American goods.

Related: Bitcoin bulls defend $80K support as ‘World War 3 of trade wars’ crushes US stocks

Meanwhile, the crypto industry has pointed out that while the stock market continues to decline, Bitcoin (BTC) remains stronger than most expected.

Crypto trader Plan Markus pointed out in an April 4 X post that while the entire stock market “is tanking,” Bitcoin is holding.

Nasdaq, United States, Stocks

Source: Jeff Dorman

Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.

Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”

Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

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