David Lammy has said the government is “young” after Sir Keir Starmer’s chief of staff Sue Gray resigned and a new poll found most people think the government is “sleazy”.
The foreign secretary said Ms Gray was a “superb public servant” after she quit on Sunday following weeks of briefings against her, including her salary being leaked.
After she stepped down less than 100 days into Labour’s premiership, Mr Lammy said: “It’s a young government and we get on with the work ahead of us.”
He thanked Ms Gray for her service and congratulated her on her new job as the PM’s envoy for the UK’s nations and regions.
Ms Gray stepped down after her perceived power and abilities were attacked by other Number 10 staff and civil servants who accused her of not having a handle on the damaging freebies row.
There were also reports of other special advisers having their pay kept down to the same levels as when they were in opposition, but now have much larger jobs, while Ms Gray was paid £170,000 – more than the PM.
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She said she resigned because it was “clear to me that intense commentary around my position risked becoming a distraction”.
Image: Sir Keir Starmer and Sue Gray. Pic: Rex/Tayfun Salci/ZUMA Press Wire/Shutterstock
Following weeks of the row over freebies taken by Sir Keir and his top team, a new poll found six in 10 Britons (59%) now describe the Labour government as “sleazy”.
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The YouGov poll, published on Monday, also found half (53%) of Britons expected Labour to behave well over standards.
Three in 10 Labour voters (30%) describe the government as sleazy, although six in 10 (59%) Conservative voters say the same of the 2019-2024 Conservative government.
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Disappointment is fairly uniform across parties, with 45% of Conservatives saying they expected Labour to behave better, 42% of Labour voters and 45% of Lib Dem voters.
Just a third of Labour voters (34%) say the new government has behaved as well as they thought it would.
When comparing Sir Keir Starmer with his predecessor, Rishi Sunak, the Labour leader comes off worse, with 35% saying Sir Keir is sleazier than Mr Sunak.
A total of 28% think Mr Sunak was sleazier than Sir Keir, and 23% view them as equally as sleazy as each other.
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Two thirds of Britons (66%) think it is unacceptable for politicians to receive complimentary concert or sports tickets, as Sir Keir and several of his cabinet have done.
But more than eight in 10 Britons (84%) feel it is wrong for party donors to be awarded peerages, as Boris Johnson attempted to do to Tory donor Stuart Marks.
Last week, Sir Keir repaid £6,000 worth of tickets he had taken since becoming prime minister.
YouGov surveyed 2,084 adults across Great Britain from 3-4 October.
The Libra token scandal is set to be reviewed by the Supreme Court of New York after a newly filed class-action lawsuit accused its creators of misleading investors and siphoning over $100 million from one-sided liquidity pools.
Burwick Law filed the suit on behalf of its clients against Kelsier Ventures, KIP Protocol and Meteora on March 17 for launching the Libra (LIBRA) token in a “deceptive, manipulative and fundamentally unfair” manner. The token was then promoted by Argentine President Javier Milei on X as an economic initiative to stimulate private-sector funding in the country.
The law firm slammed the two crypto infrastructure and launchpad firms behind LIBRA — KIP and Meteora — claiming that they used a “predatory” one-sided liquidity pool to artificially inflate the memecoin’s price, allowing insiders to profit while “everyday buyers bore the losses.”
Within hours, the insiders “rapidly siphoned approximately $107 million from the liquidity pools,” causing a 94% crash in LIBRA’s market value, Burwick Law said in a March 17 filing shared on X.
President Milei was mentioned in the lawsuit but wasn’t named a defendant.
Burwick accused the defendants of leveraging Milei’s influence to aggressively promote the token, deliberately creating a false sense of legitimacy and misleading investors about its economic potential.
Approximately 85% of LIBRA’s tokens were withheld at launch and the “predatory infrastructure techniques” allegedly used by the defendants weren’t disclosed to investors, Burwick said.
“These tactics, combined with omissions about the true liquidity structures, deprived investors of material information.”
Burwick is seeking compensatory and punitive damages, the disgorgement of “unjustly obtained” profits and injunctive relief to prevent further fraudulent token offerings.
Data from blockchain research firm Nansen found that of the 15,430 largest Libra wallets it examined, over 86% of those sold at a loss, combining for $251 million in losses.
Only 2,101 profitable wallets were able to take home a combined $180 million in profit, Nansen noted in a Feb. 19 report.
The venture capital firm behind the LIBRA token, Kelsier Ventures, and its CEO, Hayden Davis, were apparently two of the biggest winners from the token launch. They claim to have netted around $100 million.
Davis, who is now facing a potential Interpol red notice following an Argentine lawyer’s request, said on Feb. 17 that he didn’t directly own the tokens and wouldn’t sell them.
Meanwhile, Milei has distanced himself from the memecoin, arguing he didn’t “promote” the LIBRA token — as fraud lawsuits filed against him have alleged — and instead merely “spread the word” about it.
Argentina’s opposition party called for Milei’s impeachment but has had limited success thus far.
Paul Atkins could move one step closer to becoming the US Securities and Exchange Commission’s new crypto-friendly chair, with a Senate committee hearing reportedly in the works for March 27.
President Donald Trump nominated Atkins to lead the SEC on Dec. 4, but his marriage into a billionaire family has reportedly caused headaches with financial disclosures — delaying his potential start date.
While it isn’t clear whether the White House has produced those papers to the Senate, Senate Banking, House and Urban Affairs Chair Tim Scott is reportedly eyeing a March 27 hearing to review Atkins’ standing, Semafor’s Eleanor Mueller said in a March 17 X post.
“No clarity yet on whether the committee has Atkins’ paperwork in hand, but either way, this is the most momentum we’ve seen so far.”
Atkins would, however, need to be voted in by the Senate at a later date.
Mueller also said the Senate banking committee is also planning to hold a bipartisan meeting on Atkins’ nomination on March 21.
It follows an earlier March 3 Semafor report, where Mueller said financial disclosures had held Atkins back from scheduling a Senate hearing to review his standing.
His wife’s family is tied to TAMKO Building Products LLC — a manufacturer of residential roofing shingles that reportedly turned over $1.2 billion in revenue in 2023, Forbes said on Dec. 14, 2024.
“It’s a lot to go through,” one former Senate Banking Committee staffer reportedly told Mueller on March 3.
“But he got named so early on, so I think that’s why people are starting to be like, ‘What the hell’s taking so long?’”
Atkins previously served as an SEC commissioner between 2002 and 2008 and worked as a corporate lawyer at Davis Polk & Wardwell LLP in New York before that. He is expected to regulate the crypto arena with a more collaborative approach than former SEC Chair Gary Gensler.
It’s been almost four months since Atkins was chosen by Trump to lead the SEC on Dec. 4, and over two months since Trump was inaugurated on Jan. 20.
A late start for an SEC chair wouldn’t be too unusual, however.
The two most recent SEC chairs, Gary Gensler and Jay Clayton, started on April 17, 2021, and May 4, 2017 — months after presidential transitions occurred in those years.
Meanwhile, Mark Uyeda has been serving as the SEC’s acting chair since Gensler left on Jan. 20.
Since then, the Uyeda-led SEC has established a Crypto Task Force led by SEC Commissioner Hester Peirce and canceled a controversial rule that asked financial firms holding crypto to record them as liabilities on their balance sheets.
The SEC has dropped several investigations and lawsuits that the Gensler-led commission filed against the likes of Coinbase, Consensys, Robinhood, Gemini, Uniswap and OpenSea over the last month.
The SEC is also looking to abandon a rule requiring crypto firms to register as exchanges and may even axe the Biden administration’s proposed crypto custody rules, Uyeda said on March 17.
The US Securities and Exchange Commission could change or scrap a rule proposed under the Biden administration that would tighten crypto custody standards for investment advisers, according to the agency’s acting chair, Mark Uyeda.
In prepared remarks to an investment industry conference in San Diego on March 17, Uyeda said the rule proposed in February 2023 had seen commenters express “significant concern” over its “broad scope.”
“Given such concern, there may be significant challenges to proceeding with the original proposal. As such, I have asked the SEC staff to work closely with the crypto task force to consider appropriate alternatives, including its withdrawal,” Uyeda said.
The rule was floated under the Biden administration during Gary Gensler’s tenure leading the regulator. It aimed to expand custody rules for investment advisers to any and all assets held for a client, including crypto, and upped the requirements to protect them.
This meant that investment advisers would have to custody their clients’ crypto with a qualified custodian. Gensler said at the time that investment advisers “cannot rely on” crypto platforms as qualified custodians due to how they operate.
The proposal caused friction with Uyeda and Commissioner Hester Peirce, along with industry advocacy bodies who claimed the rule was unlawful and dangerous.
“How could an adviser seeking to comply with this rule possibly invest client funds in crypto assets after reading this release?” Uyeda remarked at the time. He did, however, support the proposal despite disagreeing “with a number of provisions.”
Peirce, who was the sole commissioner of the five to vote against the rule, said at the time that the proposed rule “would expand the reach of the custody requirements to crypto assets while likely shrinking the ranks of qualified crypto custodians.”
Uyeda’s latest remarks come days after he said on March 10 that he had asked SEC staff “for options on abandoning” part of a proposal pushing for some crypto firms to register with the regulator as exchanges.
The Trump-era SEC has also killed a rule that asked financial firms holding crypto to record them as liabilities on their balance sheets, called SAB 121.
In December, President Donald Trump picked former SEC Commissioner Paul Atkins to take over from Uyeda to chair the agency. This is now a step closer, with a Senate hearing reportedly slated for March 27.