Labour would cause ‘irreversible damage within first 100 days’ in power, Rishi Sunak claims
Leaders and politicians of all parties are coming out swinging today as the general election campaign enters the final days.
Rishi Sunak is today saying that Labour would cause “irreversible damage within just 100 days of coming to power”, while his top lieutenants warn of the “danger” of a government led by Sir Keir Starmer.
With polls throughout the campaign showing the Conservative Party failing to make a dent in Labour’s 21-point lead, according to the Sky News Poll Tracker, the prime minister only has days to change minds across the country in his bid to retain power.
Meanwhile, the Labour leader is arguing that if the Conservatives are re-elected, “they will feel entitled to continue serving themselves, rather than putting the needs of our country first”.
Liberal Democrat leader Sir Ed Davey is continuing to promote his party’s proposals for the NHS, while SNP leader John Swinney is arguing that the Scottish public should “vote SNP to put Scotland’s interests first”.
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Sunak says Labour ‘cannot be trusted’
The Conservative Party is continuing its warning that a Labour government would see taxes rise, and the prime minister is arguing electing Sir Keir would do “irreversible damage within just 100 days of coming to power”.
Mr Sunak said that Labour’s plans to impose VAT on private school fees would risk “throwing thousands of families’ plans for the autumn term into chaos, with children wondering if they will have a desk at school to go back to”.
And he also claimed that Labour would make Britain the “soft touch migrant capital of the world” with “open borders” and an “illegal migrant amnesty”.
The prime minister added: “They cannot be trusted. We must not surrender our taxes, our borders and our security to them. Only the Conservatives will deliver tax cuts, a growing economy and a brighter, more secure future for everyone.”
Rishi Sunak speaking at a Hindu temple in northwest London on Saturday. Pic: PA
Foreign Secretary Lord Cameron went further in an interview with The Sunday Times, suggesting that a Labour government would be a threat to national security.
He told the newspaper that Sir Keir “is in danger of weakening Britain’s position and weakening Britain’s defences, all in a way that’s completely unnecessary”.
The ex-prime minister described Labour as “hopelessly naive about the dangerous world in which we’re living”, adding: “The last thing we need in Britain now is another liberal leftie lawyer running the country.”
But Sir Keir hit back, noting that the government has already given him “high level sensitive briefings, so much do they trust us on national security”.
“To now turn around and make this ridiculous claim just shows how desperate they have become going into this election,” he added.
Starmer appeals for ‘clear mandate’ to govern
The Labour leader and the potential next chancellor, Rachel Reeves, also spoke to The Sunday Times, and they talked about their goal of getting housebuilding ramping up “on day one” if they win the election.
Keir Starmer with wife Victoria (right) and deputy Labour leader Angela Rayner at the Royal Horticultural Halls in central London on Saturday. Pic: PA
The newspaper reports that at least three housing announcements are expected to be made within the first fortnight of a Labour government, saying that opportunities for young people from working-class backgrounds to own their own home “don’t exist”.
And in an article for The Observer, Sir Keir wrote that if voters elect Labour on Thursday, “the work of change begins” and they will “get to work on repairing our public services with an immediate cash injection, alongside urgent reforms”.
He also attacked the Tories’ record in power, saying if they are re-elected, “Britain will remain stuck in their low-growth, high-tax, declining public services doom-loop”.
“The unfunded splurge contained in their manifesto will unleash chaos into our economy once again. And they will feel entitled to continue serving themselves, rather than putting the needs of our country first,” he added.
“Frankly, should they win another five years after everything they’ve put us through in this parliament, they would surely think they could get away with anything.”
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What do voters think of manifestos?
He appealed for a “clear mandate” to implement his plans, pointing to “chaos” under Mr Sunak and Liz Truss before him as examples of what happens when prime ministers seek to “govern without that mandate”.
Read more:
What the polls tell us about what will happen on 4 July
What are in the party manifestos?
Keep up with all the latest news from the UK and around the world by following Sky News
SNP ‘offers hope of better future’
Meanwhile in Scotland, the leader of the SNP is appealing to Scots to back his party as polls show that Labour could become the largest Scottish parliamentary contingent in over a decade.
John Swinney argued that while “the result in England is now inevitable”, in “most seats in Scotland it’s too close to call between the SNP and Labour”.
SNP leader John Swinney (right) and SNP candidate Tommy Sheppard serve pizza at Portobello Beach and Promenade, Edinburgh. Pic: PA
He hit out at the Labour Party, saying a Starmer government “plans to impose £18bn of cuts to public spending – after years of austerity, Brexit and the ongoing cost of living crisis”.
To avoid that, he said, and to “ensure that decisions about Scotland are made in Scotland, then you’ve got to vote SNP”.
“The SNP offers Scotland the hope of a better future – but you have to vote for it. This Thursday, vote SNP to put Scotland’s interests first,” he added.
Tories have ‘failed’ to support families in grief
The Liberal Democrats are continuing to unveil policies, focused on the NHS and reversing “heartless Tory cuts” to bereavement payments.
On the latter as it stands, a bereaved family where a spouse or partner has died receives a lump sum of up to £3,500, followed by a monthly payment of up to £350 for 18 months.
Sir Ed Davey tries his hand at archery in Little Paxton, Cambridgeshire. Pic: PA
The party is calling for this period to be extended, and is pledging to inject an additional £440m a year into the system by 2028-29 to fund it.
Sir Ed Davey said in a statement: “Rishi Sunak’s government has failed to ensure families are not left struggling to pay the bills at such a difficult period of time.
“The Liberal Democrats would treat families and children who lose a loved one with dignity and provide the support they deserve.”
He also reiterated his party’s pledge to give people a legal right to see a GP within a week and start cancer treatment within two months, with Sir Ed saying that his party has “put health and care at the heart of our fair deal for the country”.
Farage goes on the attack
Meanwhile, Reform UK is on the offensive after facing a slew of racism allegations over recent days.
Nigel Farage during a BBC Question Time Leaders’ Special at the Midlands Arts Centre in Birmingham. Pic: PA
The party yesterday withdrew support for three candidates, and it came on the heels of Channel 4 news airing footage filmed undercover that showed Andrew Parker, an activist canvassing for Mr Farage, using the racial slur “P***” to describe the prime minister, describing Islam as a “disgusting cult”, and saying the army should “just shoot” migrants crossing the Channel.
Nigel Farage has gone on the attack, with the party saying it has reported Channel 4 to the elections watchdog for alleged “scandalous… interference” over what the party claims was a fake rant planted by the broadcaster.
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The key election words you need to know
Mr Farage also hit out at the BBC, saying he would refuse to appear on their flagship Sunday morning show until they apologise for their “dishonest” audience during a BBC Question Time special on Friday, accusing the broadcaster of having “behaved like a political actor throughout this election”.
He will hold a vast rally in Birmingham later today, after speaking to Sky News from Sunday Morning With Trevor Phillips at 8.30am.
Reform UK leader Nigel Farage will be joining Sky News’ Trevor Philips from 8.30am this morning on his last programme before the election – along with Deputy Prime Minister Oliver Dowden, Labour’s national campaign coordinator Pat McFadden, and SNP leader and Scottish First Minister John Swinney.
Crypto casinos generated more than $81 billion in revenue in 2024, even as regulators in key jurisdictions continued to block access to the platforms, according to a new report.
Citing data from the anti-online-crime platform Yield Sec, the Financial Times reported that wagers paid in crypto in 2024 generated $81.4 billion in gross gaming revenue (GGR). This metric refers to the difference between bets taken and winnings paid out.
Yield Sec data also showed that the annual revenue for crypto casinos has increased five times since 2022, despite gambling sites being blocked in the United States, China, the United Kingdom and the European Union.
Crypto casino Stake rivals traditional betting platforms
Betting platform Stake reported that its GGR in 2024 was around $4.7 billion, up 80% since 2022. This puts it on a par with some of the biggest gambling groups, such as Entain and Flutter. Entain reported $5 billion, while Flutter reported $14 billion in revenue in 2024.
Stake offers traditional casino games, including blackjack, roulette and slots. The platform also allows users to bet on sports. Users on the betting platform generally transact in crypto, with account balances being deposited and withdrawn directly into crypto wallets.
In 2023, the crypto betting platform was hacked, with $41 million withdrawn from its wallets. On Sept. 4, 2023, security firms flagged suspicious outflows from the platform. The company then confirmed the hack through social media, saying there were unauthorized transactions from its Ethereum and BNB Chain hot wallets.
On Sept. 7, 2023, the US Federal Bureau of Investigation said the $41 million hack was executed by the notorious North Korean hacking group Lazarus.
Related: XRP ETF ‘obvious’ as Polymarket bettors up approval odds to 85%
Gamblers access illegal sites through VPNs
Even though crypto gambling sites are officially blocked in many jurisdictions, users can access them by bypassing geo-blocking restrictions with VPNs, which allows users to place bets on sites blocked in their country.
Former players and crypto users told the FT that many online guides show people how to bypass geo-blocking restrictions to access a crypto gambling platform. Cointelegraph confirmed that some influencers offer online tutorials that teach people how to access blocked gambling sites.
“Ready-to-gamble” crypto casino accounts are also reportedly being sold on social media platforms, according to Sanya Burgess, journalist at The i Paper.
Users sell accounts that have already passed through betting sites’ registration processes. On Jan. 31, Sky News reported that some users sell pre-verified crypto casino accounts for as little as $10. These ready-to-gamble accounts are reportedly sold on social media sites like Facebook.
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El Salvador, the first country in the world to adopt Bitcoin as legal tender, is working with the computer chip giant Nvidia to implement artificial intelligence for national development.
El Salvador signed a letter of intent to collaborate with Nvidia on “sovereign AI to drive innovation and economic growth,” the National Bitcoin Office (ONBTC) of El Salvador announced on X on April 21.
As part of the collaboration, El Salvador will benefit from Nvidia’s AI tools, resources and expertise, enabling the development of sovereign AI capabilities targeting priorities related to culture, language, environment and economy.
“El Salvador will focus on building domestic AI infrastructure, upskilling the workforce, and creating solutions to address local challenges such as improving healthcare delivery, advancing education, and boosting economic productivity,” the announcement said.
AI training for state officials and developers
El Salvador’s latest collaboration with Nvidia marks the country’s commitment to encouraging AI usage to optimize multiple processes within the government and society.
With its new AI push, El Salvador intends to establish AI training programs for developers, researchers and government officials to “ensure the nation has the talent to sustain its AI ambitions.”
One example includes the creation of AI-driven models to forecast weather and rainfall, which would support emergency response, protect residents in landslide-prone areas and optimize hydroelectric power management.
Not the first AI initiative for El Salvador
El Salvador’s Nvidia partnership adds to a growing list of AI-focused initiatives.
In March 2025, the ONBTC announced Salvador’s university-level public education AI program CUBO_ai, touting it as the “only national education program bringing in top-tier field experts.” The program was announced with support from major Bitcoin bull Cathie Wood, who is expected to give the first lecture as part of the program.
Last year, Wood predicted that El Salvador’s Bitcoin (BTC) and AI plans may boost GDP tenfold by 2029.
Related: Only 11% of El Salvador’s registered Bitcoin firms operational
While El Salvador has been aggressively introducing AI initiatives, its Bitcoin ambitions have been somewhat deterred.
In early March, the International Monetary Fund moved to restrict further Bitcoin purchases by El Salvador as part of an extended $1.4 billion funding arrangement with the country. However, the government has continued stacking 1 Bitcoin a day, raising questions about the implications of the deal with the IMF.
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Major cryptocurrency firms, including stablecoin issuer Circle and crypto custodian BitGo, are reportedly considering applying for bank charters or licenses.
According to an April 21 Wall Street Journal report citing people familiar with the matter, Circle, BitGo and others are considering applying for some form of banking license. Other firms cited include the publicly traded US-based crypto exchange Coinbase and the stablecoin issuer Paxos.
The US Office of the Comptroller of the Currency granted a preliminary conditional approval for a US bank charter to Paxos in 2021. The report comes as the US continues to reshape stablecoin regulations.
US Federal Reserve Chair Jerome Powell recently said that as digital assets gain mainstream adoption, establishing a legal framework for stablecoins is a “good idea.” Speaking at a recent event in Chicago, Powell recognized that after a “wave of failures and frauds,” the crypto space delivered a consumer use case that “could have wide appeal.”
Related: Stablecoins are powering deobanks
A stable genius
The US House Financial Services Committee passed a Republican-backed stablecoin framework bill earlier in April. The bill approved by the committee is the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act.
This bill is moving forward alongside the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. The STABLE and GENIUS bills differ in how they would regulate the stablecoin industry.
The latter was introduced first and made its way past the US Senate Banking Committee in mid-March. While the STABLE Act emphasizes strict federal oversight, the GENIUS Act seeks a more flexible path that includes state and federal regulation.
The STABLE Act enforces a two-year moratorium on issuing collateralized stablecoins backed by self-issued digital assets. It also mandates that stablecoin reserves be held separate from business funds to ensure that customer deposits are not used for operations.
The GENIUS Act would establish a legal framework for stablecoin payments and aims to support US-based stablecoin issuers to reinforce the dollar’s global dominance. The bill also includes stricter rules, such as enhanced Anti-Money Laundering (AML) safeguards, reserve and liquidity standards, and sanctions checks.
Under the GENIUS Act, stablecoin issuers would be considered financial institutions covered by the Bank Secrecy Act and falling under strict AML rules. User verification and reporting of suspicious activity would also be required.
Related: Crypto’s debanking problem persists despite new regulations
Why a bank charter?
The companies cited in the report had not responded to Cointelegraph’s inquiries by the time of publication.
A bank charter potentially would allow crypto firms to operate like traditional lenders, taking deposits and making loans.
Still, crypto firms that obtain banking charters would be subject to stricter reporting and regulatory oversight. One example is Anchorage Digital, a crypto firm holding a federal bank charter that reportedly spent millions to comply with regulations.
Despite this, recent reports indicate that the US Department of Homeland Security’s El Dorado Task Force has reportedly launched an investigation into Anchorage Digital Bank.
The news does not come as a complete surprise. In late March, reports indicated that cryptocurrency and fintech companies were increasingly seeking bank charters to expand their businesses under the Trump administration.
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