Starmer’s decision over Diane Abbott is part of a wider strategy – but polling suggests trouble ahead

Published

2 years ago

May 30, 2024

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Does Diane Abbott and the row over her future matter?

Keir Starmer clearly calculated not so much, although I’m told it blew up far more than the leader’s office expected, with the mess and delay a product of disagreements internally about what to do with her.

High-profile Labour politicians like Jess Phillips are now kicking off, and televised rallies in front of supporters in Hackney have undoubtedly obliterated the party’s attempts to get messages out on NHS waiting times.

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Abbott tells rally she won’t be ‘intimidated’

But does it move the dial politically – particularly when the party is 27 points ahead according to the latest Sky News/YouGov poll and Sir Keir is keen to do all he can to preserve relations with the Jewish community?

Possibly not in the first instance. But it may have secondary effects.

Sir Keir is avowedly determined to present a “changed” Labour Party, away from the one that held Jeremy Corbyn in high esteem.

The decisions about Ms Abbott are part of that wider strategy. There are still parts of the party nostalgic for this era, however, and Sir Keir famously won the leadership trying to keep them onside.

But there’s a paradox in the polling that suggests trouble ahead. Yes, if the polls are to be believed (and many Tories don’t) Labour is on course for a decent majority and control of Number 10.

However, Sir Keir’s own ratings are – less than stellar.

The YouGov/Sky News poll asked this week whether voters thought he would be a good or bad prime minister. Almost half – 47% – said bad. The older the voter, the more pessimistic they are.

Sir Keir is starting from a low base – not as bad as Rishi Sunak, but still bad. By contrast, only 33% said they thought he’d be good.

That level of enthusiasm suggests Sir Keir may not enjoy much of a public opinion honeymoon, just at a point where he is likely to have to start by making difficult decisions, most notably on raising taxes.

One of the themes of this election has been the party’s clarity that while it will promise not to raise income tax, national insurance and corporation tax, no such bar exists on other taxes.

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With rules to restrain borrowing lifted from the Tories and unsustainably tight Whitehall spending plans, something has to give.

Judging by the first week of the campaign, that seems to be tax – a subject the Tories are likely to dwell on in the coming days.

If he is suddenly unpopular, Sir Keir needs an army of supporters to insulate him.

But some of those are the supporters who are unhappy with his treatment of Ms Abbott.

This row might not matter that much now or in this campaign, but if the bonds between leader and party are easily frayed then there’s trouble ahead.

Rishi Sunak could tell him that.

Politics

Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks

Published

7 hours ago

November 30, 2025

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Nasdaq crypto chief pledges to ‘move as fast as we can’ on tokenized stocks

The US Nasdaq stock exchange is making SEC approval of its proposal to offer tokenized versions of stocks listed on the exchange a top priority, according to the exchange’s crypto chief.

“We’ll just move as fast as we can,” Nasdaq’s head of digital assets strategy, Matt Savarese, said during an interview with CNBC on Thursday, when asked whether the SEC could approve the proposal this year.

“I think what we have to really evaluate where the public comments come back in and then answer and respond to the SEC questions as they come through,” Savarese said. “We hope to kind of work with them as quickly as possible,” Savarese said.

Savarese says Nasdaq isn’t “upending the system”

The proposal, submitted by Nasdaq on Sept. 8, is requesting to allow investors to buy and sell stock tokens — digital representations of shares in publicly traded companies — on the exchange.

Savarese emphasized that Nasdaq is not trying to overhaul the way stocks are invested in when asked whether he expects other major exchanges to follow suit.

Nasdaq, SEC, United States — *Nasdaq’s head of digital assets, Matt Savarese, spoke to CNBC on Thursday. Source:* *CNBC*

“We’re not looking at upending the system; we want everyone to come along for that ride and bring tokenization more into the mainstream,” he said.

“We want to do it in that responsible investor-led way first, under the SEC rules themselves,” he added.

It was only in October that Robinhood CEO Vlad Tenev said that tokenization will “eventually eat the whole financial system.”

The crypto industry is divided on tokenized equities

Savarese emphasized that Nasdaq is aiming to be an innovator in the ecosystem, noting that the exchange was the first to transition markets from paper-based trading to electronic systems.

Tokenizing stocks has been one of the most significant talking points in the crypto industry this year.

On Sept. 3, Galaxy Digital CEO Mike Novogratz said the company became the first Nasdaq-listed company to tokenize its equity on a major blockchain following its launch on the Solana network.

The conversation around tokenized equities has also drawn skepticism from the crypto industry.

On Oct. 1, Rob Hadick, general partner at crypto venture firm Dragonfly, told Cointelegraph that tokenized equities will be a significant benefit to traditional markets, but may not be a boon to the crypto industry as others have predicted.

Hadick said that if tokenized stocks use layer-2 networks, it creates “leakage” as value and may not flow back to Ethereum or the broader crypto ecosystem as much as hoped.

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