Tory leadership race: James Cleverly knocked out – leaving Robert Jenrick and Kemi Badenoch in final two
Robert Jenrick and Kemi Badenoch will battle it out to be the next leader of the Conservative Party after James Cleverly was eliminated from the race.
Tory MPs held a final vote on Wednesday to reduce the field to a final two, who will then go to a ballot of Conservative members.
After picking up 42 votes in the final round of voting, Ms Badenoch re-established herself as the favourite after lagging behind in previous rounds.
Robert Jenrick, her close rival on the right, picked up one vote shy of Ms Badenoch, while Mr Cleverly – who was seen as a unifying candidate – won the backing of 37 MPs.
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The selection of Ms Badenoch and Mr Jenrick means the Conservative Party is heading towards the right and that immigration – and the UK’s membership of the European Convention on Human Rights (ECHR) – will be at the top of the agenda.
Mr Jenrick said he was “delighted to have got so much support from parliamentary colleagues today”.
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James Cleverly eliminated in Tory race
He told Sky News’ Sophy Ridge he believed his message of fixing the NHS, growing the economy and reducing immigration had struck a chord with MPs.
“On each of these areas, I’ve got a real plan,” he said.
“I don’t trade in platitudes. I have a plan as to how we provide serious, competent leadership for our party and ultimately for our country.”
This contest could become unpleasant quite quickly
The Conservative leadership contest is no longer a battle for the direction of the party.
By picking Kemi Badenoch and Robert Jenrick, this has pivoted from a contest about the future direction of the party to one that turns on two different visions of a Tory future on the right of British politics.
The ejection of James Cleverly – who was frontrunner just yesterday – stunned the party. Nobody has yet admitted to whether his defeat took place because of a miscalculation over vote lending.
However people saw Cleverly on the terrace and later for a time at the Boris Johnson book launch – a period the other campaign were hitting the phones to firm up support.
It is still too close to call who will win between Ms Badenoch and Mr Jenrick as they go through to the final round and submit themselves to the judgement of 170,000 Tory members.
However, Ms Badenoch now appears to have the edge.
The last Tory members poll for YouGov by Sky News puts her four percentage points ahead of her rival in a head to head contest – not much more than the margin of error, but this was taken before her well-received conference speech.
In the final round of voting she was suddenly out in front amongst MPs – when the suggestion had been that they might try and keep her off the ballot.
This puts to bed the suggestion that too many MPs worry that her regular incendiary and unpredictable comments bar her from the top job.
Mr Jenrick will now want this race to turn on immigration .
Team Jenrick say he wants to leave ECHR and she “wants to remain” and that his opponent wants to leave.
Team Badenoch says that misrepresents her – her more nuanced position is that she is willing to leave if necessary, but only after a review.
Other clear dividing lines are yet to emerge, however. The risk that a contest based around personalities becomes quite personal – and unpleasant – quite quickly.
It is not a contest anyone could have predicted.
Ms Badenoch said the reason she had performed the best in the final round of voting was because “people have a lot of faith in my approach”…that you start with principles first and then policy”.
Mr Cleverly’s elimination from the race came as a surprise after he rallied in the previous round of voting following what was considered to be a strong performance at the Conservative Party conference.
Kemi Badenoch has established herself as the frontrunner after lagging behind in previous rounds.
Political reporter Alix Culbertson, who was in the room as the result was announced, said “disbelief resounded around the room” after it was confirmed the former home secretary would not be in the final two.
Following the result Mr Cleverly posted on X: “I’m grateful for the support I’ve received on this campaign from colleagues, party members and the public.
“Sadly it wasn’t to be. We are all Conservatives, and it’s important the Conservative Party unites to take on this catastrophic Labour government.”
It came after Tom Tugendhat, the former security minister who was running from the centrist wing of the party, was knocked out of the race after receiving the least votes from MPs on Tuesday.
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The result marks a comeback for Ms Badenoch, who while starting as the favourite in the early stages of the contest, was later pursued by Mr Jenrick who overtook her in the first, second and third MPs’ ballot.
Both candidates faced criticism for comments they made during the party conference.
Mr Jenrick claimed the SAS was being forced to kill rather than capture terrorists because the “European Court will set them free”, something many of his colleagues disputed.
Former business secretary Ms Badenoch was forced to backtrack over comments she made about “excessive” maternity pay and civil servants being jailed.
Britain’s membership of the ECHR is likely to be at the forefront at the debate between the two frontrunners, with Mr Jenrick – who has already challenged his rival to a debate – advocating that the UK leave the convention.
Ms Badenoch’s position is that she wants a review of the ECHR and would be willing to leave it if necessary.
Asked whether the race was likely to get “dirty” and if he could guarantee a “clean contest”, Mr Jenrick told Sophy Ridge: “That’s the way I fought this campaign now for three months.
Robert Jenrick has made leaving the ECHR central to his campaign.
“I’m a collegiate person, but I also want to provide direction for this party,” he said. “We need to be more Conservative. We need to ensure that we occupy that common ground of British politics once more.”
On the issue of the ECHR, Ms Badenoch said making it the sole focus of the debate would be a mistake.
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“What I talked about in my conference speech and when I launched my campaign is we need to talk about everything,” she told reporters in Westminster.
“It can’t just be about one little part of immigration policy – we need to lower immigration, that’s part of the story, but just talking about the ECHR is going to shut down the conversation that we need to have with the entire country.”
The party membership vote will close at 5pm on Thursday 31 October. The winner, who will become leader of the party and the Opposition to the Labour government, will be announced on Saturday 2 November.
Crypto entrepreneurs and their families in France will receive enhanced security measures amid a recent rise in crypto-related kidnappings in the country, Politico reported.
According to the May 16 report, the measures include priority access to police emergency lines, home security assessments, and safety briefings from French law enforcement to ensure best practices are being followed.
France’s Interior Minister Bruno Retailleau introduced the security measures as part of a broader effort to counter the recent wave of attacks.
“These repeated kidnappings of professionals in the crypto sector will be fought with specific tools, both immediate and short-term, to prevent, dissuade and hinder in order to protect the industry.”
Law enforcement officers will also undergo “anti-crypto asset laundering training,” Retailleau noted.
Retailleau met with several local leaders from the crypto industry to discuss the measures following three crypto-related kidnapping incidents in recent months.
Two kidnappings and a failed attempt in France this year
The latest incident occurred on May 13, when assailants attempted to abduct the daughter and grandson of Pierre Noizat, CEO of the French crypto platform Paymium. Fortunately, they managed to fend off the attack, which occurred in broad daylight.
The assailants tried to force the pair into a waiting van, but Noizat’s daughter managed to take one of the guns off an assailant and throw it away, local police said.
En plein Paris, un homme a été violenté par des individus cagoulés, habillés tout en noir. Ils tentaient de l’enlever. Un homme a surgi, extincteur à la main, pour les faire fuir. →https://t.co/P0qV6PR40v pic.twitter.com/9f4r2Gi7ho
— Le Figaro (@Le_Figaro) May 13, 2025
On May 3, Paris police freed the father of a crypto entrepreneur who was held for several days in connection with a 7 million euros ($7.8 million) kidnapping plot.
Related: SEC hacker sentenced to 14 months in prison
In January, the co-founder of crypto hardware wallet provider Ledger, David Balland, was abducted from his home in central France during the early hours of Jan. 21. He was held captive until a police operation on the night of Jan. 22 secured his release.
Retailleau said earlier this week that he believes the incidents were likely connected.
There have been over 150 crypto-related robbery or kidnapping incidents since 2014, with 23 of those incidents occurring in 2025 alone, according to a GitHub database maintained by Bitcoin cypherpunk Jameson Lopp.
Lopp noted many of these criminals typically identify future victims through social media posts, public conversations, meetups, and conferences.
He strongly advises against peer-to-peer trades — particularly with people you don’t trust — flaunting wealth on social media and wearing crypto-branded clothing.
Magazine: Binance Wallet ‘killing’ MetaMask and airdrops, Chinese RWA tokens
News broke on May 15 that Coinbase was the target of a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data for social engineering scams.
While less than 1% of Coinbase’s active monthly users were reportedly affected, the expected remediation and reimbursement expenses range from $180 million to $400 million, as the exchange pledged to repay all phishing attack victims.
Despite the attack on the world’s third-largest cryptocurrency exchange, investor sentiment remains optimistic, with the Fear & Greed Index remaining firmly in the “Greed” zone above 69, according to CoinMarketCap data.
Adding to investor optimism, Coinbase saw over $1 billion worth of Bitcoin withdrawn on May 9, marking the highest net outflow recorded in 2025 so far, triggering analyst predictions of a supply-shock driven Bitcoin rally.
Coinbase faces $400 million bill after insider phishing attack
Coinbase was hit by a $20 million extortion attempt after cybercriminals recruited overseas support agents to leak user data, the company said on May 15.
Coinbase said a group of external actors bribed and coordinated with several customer support contractors to access internal systems and steal limited user account data.
“These insiders abused their access to customer support systems to steal the account data for a small subset of customers,” Coinbase said, adding that no passwords, private keys, funds or Coinbase Prime accounts were affected.
Less than 1% of Coinbase’s monthly transacting users’ data was affected by the attack, the company said.
After stealing the data, the attackers attempted to extort $20 million worth of Bitcoin (BTC) from Coinbase in exchange for not disclosing the breach. Coinbase refused the demand.
Instead, the company offered a $20 million reward for information leading to the arrest and conviction of those responsible for the scheme.
$1 billion Bitcoin exits Coinbase in a day as analysts warn of supply shock
Institutional demand for Bitcoin is growing, as Coinbase, the world’s third-largest cryptocurrency exchange, recorded its highest daily outflows of Bitcoin in 2025 on May 9.
On May 9, Coinbase saw 9,739 Bitcoin, worth more than $1 billion, withdrawn from the exchange, the highest net outflow recorded in 2025, according to Bitwise head of European research André Dragosch.
“Institutional appetite for Bitcoin is accelerating,” Dragosch added in a May 13 X post.
The outflow occurred as Bitcoin traded above $103,600 and just days after the White House announced a 90-day reduction in reciprocal tariffs between the US and China, easing market concerns and lifting broader investor sentiment.
The 90-day suspension of additional tariffs removed the risk of “sudden re-escalation,” which may help Bitcoin, altcoins and the wider stock market rally due to improved risk appetite, Nansen’s principal research analyst, Aurelie Barthere, told Cointelegraph.
DeFi lender Aave reaches $40 billion in value locked onchain
Aave, a decentralized finance (DeFi) protocol, has reached a new record of funds onchain, according to data from DefiLlama.
In an X post, Aave said it topped $40.3 billion in total value locked (TVL) on May 12. Onchain data reveals that Aave v3, the latest version of the protocol, has about $40 billion in TVL.
Aave is a DeFi lending protocol that lets users borrow cryptocurrency by depositing other types of cryptocurrency as collateral. Meanwhile, lenders earn yield from borrowers.
“With these milestones, Aave is proving its dominance in the Lending Space,” DeFi analyst Jonaso said in a May 12 X post. TVL represents the total value of cryptocurrency deposited into a protocol’s smart contracts.
SEC delays Solana ETF as decisions for Polkadot, XRP loom
The US Securities and Exchange Commission (SEC) pushed back its decision on a proposed spot Solana exchange-traded fund (ETF), with the cryptocurrency industry now looking to the deadlines for the Polkadot and XRP-based ETFs in June.
The SEC delayed its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, according to a May 13 filing by the securities regulator.
The decision came the week after the SEC delayed its ruling on Canary Capital’s Litecoin (LTC) ETF, Bloomberg Intelligence analyst James Seyffart wrote in a May 5 X post.
Spot ETFs are key drivers of liquidity and institutional adoption for digital assets. For Bitcoin, the US spot Bitcoin ETFs accounted for an estimated 75% of new investment after launching, which helped BTC recapture the $50,000 mark in February 2024, a month after the ETFs debuted for trading.
While a Solana ETF may generate only a fraction of the inflows of Bitcoin ETFs, it could increase Solana’s institutional adoption in the long term by offering investors a “regulated investment vehicle” that may still attract billions of dollars in capital, Ryan Lee, chief analyst at Bitget Research, told Cointelegraph.
Starknet hits “Stage 1” decentralization, tops ZK-rollups for value locked
Ethereum layer-2 scaling platform Starknet has reached a decentralization milestone laid out by Ethereum co-founder Vitalik Buterin and is now the largest zero-knowledge rollup-based network by total value locked.
Starknet said in a news release shared with Cointelegraph that it has hit “Stage 1” decentralization, according to a framework Buterin laid out in 2022, which means the network operates with limited oversight or “training wheels.”
Starknet added that the framework was the “gold standard onchain tool for analyzing Ethereum scaling solutions,” and said it achieved the milestone through changes such as creating a security council and censorship-avoidance mechanisms.
While the system still allows intervention from a security council, it has implemented a fully functional validity proof system governed by smart contracts.
Starknet is now the only layer-2 ZK-rollup network to have reached Stage 1 and has grown to be the largest ZK-rollup blockchain with a total value locked of $629 million, just ahead of ZKsync’s $610 million, according to L2beat.
Starknet is the fifth-largest layer-2 network by value locked, with the top four all Optimistic rollup-based, having reached Stage 1 decentralization using fraud proofs.
DeFi market overview
According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.
Solana-based memecoin Dogwifhat (WIF) rose over 43% as the week’s biggest gainer, followed by decentralized exchange Raydium’s (RAY) token, up nearly 19% over the past week.
Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.
Terminally ill journalist Dame Esther Rantzen was branded “disrespectful” and “insulting” by MPs during a debate on the assisted dying bill.
The broadcaster and Childline founder wrote to all MPs ahead of Friday’s Commons’ debate urging them to vote for what she called a “crucial reform”.
MPs were voting on amendments made to the bill – the report stage – following months of a committee going line by line through it after being introduced last year by Labour MP Kim Leadbeater.
The bill says people with six months to live who have the mental capacity can request medical assistance to legally end their life.
Dame Esther, who has stage four lung cancer, suggested many MPs who opposed the bill have “undeclared personal religious beliefs which mean no precautions would satisfy them”.
Campaigners opposing the legislation demonstrated outside parliament. Pic: PA
However, in a highly charged Commons session, some MPs took umbrage with that.
Labour MP Florence Eshalomi, who is a Christian and voted against the bill the first time, told the Commons: “This is frankly insulting to disabled people, hard working professionals up and down the country, who have raised many valid concerns about this bill, to have it dismissed as religious beliefs.”
Jess Asato, a Labour MP who, as a child, cared for her grandmother with serious health problems, said Dame Esther “accused those of us who have concerns about the bills as having undeclared religious beliefs”.
“Many colleagues found this distasteful and disrespectful,” said the MP, who previously voted against the bill.
Health Secretary Wes Streeting, who voted against the bill last year, backed Ms Asato’s criticism as he retweeted her X post saying Dame Esther’s comment about faith was “particularly distasteful”.
Ms Asato’s Commons comment was met with agreement by many MPs who said: “Hear, hear.”
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Pro-assisted dying campaigners outside parliament on the eve of Friday’s debate. Pic: AP
‘Clumsy criticism’
Conservative MP Dr Kieran Mullan said there had been some “unhelpful remarks by high profile campaigners”, and while he is not religious he was “concerned to see a clumsy criticism” that those objecting to the bill are doing so because of their “religious beliefs”.
In a dig at Dame Esther’s comments, Rebecca Paul, Tory MP for Reigate, said she is not against assisted dying “in principle” but is against the bill – and wanted to put on the record: “I have no personal religious beliefs.”
The debate saw some MPs on the verge of tears as they described their own experiences of having debilitating conditions, or having family members in pain.
MPs do not have to vote along party lines for the bill.
Kim Leadbeater is the MP who introduced the bill
How did MPs vote?
An amendment tabled by Ms Leadbeater, which “expands the protection” for medical practitioners to clarify they have “no obligation” to be part of an assisted death was passed by MPs.
It also provides legal protections for medical professionals to ensure they are not subject to any kind of punishment for refusing to carry out an assisted death.
Another new clause to allow employers to impose a blanket ban on staff facilitating an assisted death was rejected.
Since the bill was first introduced, there have been significant changes, including the replacement of a High Court judge to sign assisted dying off by a three-member expert panel – on top of two doctors having to approve.
The time at which assisted dying would come into effect was doubled to four years from when it becomes law, if voted through.
Medical colleges pull support
Opponents have argued the bill does not have enough safeguards and is being rushed through.
Three days before the debate, the Royal College of Psychiatrists pulled its support for the bill over the change that will mean a psychiatrist must be on the panel that decides if someone can die.
The next day, the Royal College of Physicians (the largest college) adopted a similar position.
However, supporters argue it is time to change the law, with Ms Leadbeater saying: “If we do not vote to change the law, we are essentially saying that the status quo is acceptable.”
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