In 2019 Liz Truss was once again elected MP for South West Norfolk – her fourth election win.
The then international trade secretary and later prime minister romped home to victory with nearly 70% of the vote.
Her constituency was one of the safest in the country.
But now, if the polls are to be believed, it is hanging in the balance.
A dramatic reversal of fortune akin to her time in Downing Street.
And it is that brief, the shortest premiership, which seems to have played an important part in why even in this most conservative of constituencies Conservatives are considering not voting for her.
“My husband lost 40% of his pension when she did what she did. So he’s 67 and still working,” one voter said to me.
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Another talked about how she couldn’t vote for Truss because her daughter’s mortgage had risen three times in the past 18 months.
It went on and on.
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In fact, I was taken aback by the reaction.
I’ve spent a lot of my time talking to voters in different parts of the country over the past decade and I can’t remember a more visceral reaction to one candidate – and not in a good way.
Time again, there was criticism about how little Truss spends in the constituency and how visible she is during the campaign.
Lots of voters complained of the few chances they had had to interact with her – brief visits and Facebook posts was the criticism.
A spokesperson for Truss claimed the former prime minister has never attended hustings at any election but she does hold constituency surgeries however doesn’t publicly advertise them for security reasons.
It wasn’t entirely negative for Truss, with one voter saying they were leaning towards voting for her and another saying they were wavering but had been spooked by the “tax issue” with Labour.
Image: One voter said they remained undecided ahead of next month’s election as others were unimpressed by the former PM
Others remained undecided ahead of the election, with one voter saying: “I’m a bit undecided, you hear so much, you don’t know who to go for.”
But her political opponents are trying to make this election effectively a referendum on Truss.
The Labour Party, which drew little support here five years ago, reckons it is now in with a chance.
Terry Jermy, the party’s candidate, said:“At the start of this election campaign I didn’t intend to write a victory speech… I’m writing one now.”
The Lib Dems too argue Truss’ record is coming up on the doorstep. “People are very disappointed with her performance as our constituency MP,” says Josie Radcliffe.
Another candidate, James Bagge, is pitching himself as a true-blue independent Conservative – even if he frankly has a small chance of success.
The full list of candidates in the South West Norfolk constituency is:
• Earl Elvis of East Anglia – The Official Monster Raving Loony Party
• James Bagge – Independent
• Gary Conway – Heritage Party
• Pallavi Devulapalli – Green Party
• Lorraine Douglas – Communist Party of Great Britain
• Terry Jermy – Labour Party
• Toby McKenzie – Reform UK
• Josie Ratcliffe – Liberal Democrats
• Liz Truss – Conservative and Unionist Party
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Truss’ campaign didn’t take up the offer of an interview, insisting she is not engaging with national media, in a statement to Sky News. They said she’s focusing her time on the campaign trail talking directly to residents and as an experienced, high-profile campaigner who will continue to fight for traditional conservative values and stand up for South West Norfolk.
When you stand in a safe Conservative seat, as a former PM, you don’t ordinarily need to worry.
But this is no ordinary election and Truss is a very divisive politician.
It means for the first time in generations this part of Norfolk is up for grabs.
The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.
While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.
On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.
Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.
Tariffs compound existing mining challenges
Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.
Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.
According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.
Bitcoin hashprice since late 2013. Source: Bitbo
“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.
He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.
“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.
Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.
BTC mining firms to “lose in the short term”
Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.
“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.
Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.
“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.
As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.
Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.
Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.
Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.
While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.
The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.
Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.
This is a developing story, and further information will be added as it becomes available.
Authorities in the US state of Massachusetts continue targeting unlawful cryptocurrency market practices, with a local court fining crypto financial services firm CLS Global.
A federal court in Boston on April 2 sentenced CLS Global on criminal charges related to fraudulent manipulation of crypto trading volume, according to an announcement from the Massachusetts US Attorney’s Office.
In addition to a $428,059 fine, the court prohibited CLS Global from offering services in the US for a probation period of three years.
CLS Global, a crypto market maker registered in the United Arab Emirates, in January pleaded guilty to one count of conspiracy to commit market manipulation and one count of wire fraud.
CLS agreed to manipulate the FBI’s “trap token” NexFundAI
The charges against CLS Global followed an undercover law enforcement operation involving NexFundAI, a token created by the FBI as part of a sting operation in May 2024.
CLS Global was among at least three firms that took the FBI’s bait and agreed to provide “market maker services” for NexFundAI, including a fraudulent scheme to attract investors to purchase the token.
In October 2024, the Securities and Exchange Commission announced fraud charges against CLS and its employee, Andrey Zhorzhes. The US securities regulator also filed complaints against two other NexFundAI manipulators, Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.
CLS Global’s profile
According to CLS Global CEO Filipp Veselov, the company was founded in 2017 to fill in a “huge gap in the market for high-quality market-making solutions and trading consulting.”
Prior to CLS, Veselov worked at the Russian cryptocurrency exchange platform Latoken, which is advertised as a “global digital asset exchange” and has about 370,000 followers on X.
The CLS team also includes chief revenue officer Pavel Singaevskii, who previously served as sales manager at Stex, a crypto platform that reportedly ceased operations without warning in 2023.
According to CLS Global’s X page, the platform continues operating and has more than 110,000 followers at the time of publication.
How much wash trading is in crypto?
Wash trading is an illegal practice involving artificially inflating trading volume by repeatedly buying and selling the same asset, generating a misleading perception of demand.
According to a January 2025 report by the US blockchain analytics firm Chainalysis, the crypto market has at least $2.6 billion in estimated wash traded volumes, or just about 2% of total daily crypto trading volumes, as reported by CoinGecko.
Estimated wash trade volume in crypto. Source: Chainalysis