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Can a Labour prime minister get on well with a Republican US president? Or a Conservative PM with a Democrat in the White House?

The short answer is yes, absolutely.

There are plenty of examples of a good relationship and close bond between a Labour prime minister and Republican president. And vice versa.

Indeed, some prime ministers and presidents from seemingly opposing political parties have bonded for the simplest or most trivial reasons. Cigars, toothpaste and burgers, for example.

And it’s not always rosy between prime ministers and presidents of the two sister parties. There have been some big fallings out: over Suez, Vietnam and the Caribbean island of Grenada.

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Starmer says the ‘special relationship’ is ‘as important today as it has ever been’

But never has a British Labour prime minister faced such special challenges in maintaining the “special relationship” with a Republican president as Sir Keir Starmer does right now.

It’s not just policy differences – on issues such as trade tariffs, Ukraine, Israel, defence spending, Brexit and climate change – that divide Downing Street and the White House right now.

More on Donald Trump

Never before has an incoming president faced such a tirade of brutal insults from senior members of a UK government like those hurled at him by leading members of Sir Keir’s cabinet.

Read more:
Meet the Trumps – a White House family business?
Trump still faces criminal charges – here’s what happens next
US talk show host on verge of tears after Trump win

He’s a “racist KKK and neo-Nazi sympathiser”, (David Lammy, 2017), an “odious, sad little man”, (Wes Streeting, 2017) and “a racist misogynistic, self-confessed groper”, (Ed Miliband, 2018). And that’s just a sample.

That’s not all. Last month, the Republican Party filed a legal complaint after almost 100 Labour Party aides flew to the US to campaign for Kamala Harris, alleging “blatant foreign interference” in the presidential election.

Critics, led by the new Tory leader Kemi Badenoch, have accused Sir Keir and his party of playing student politics by picking a fight with the most powerful man in the world. And someone who’s notoriously vindictive.

It was all very different 80 years ago (critics would also say that political leaders were real statesmen back then).

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Badenoch calls out Lammy at PMQs

The phrase “special relationship”, describing the alliance between the UK and US, was first used by Winston Churchill in a speech in Missouri in 1946, in which he also coined the phrase “the Iron Curtain”.

That speech was introduced by president Harry Truman, a Democrat, with whom Churchill had attended the Potsdam Conference in 1945 to negotiate the terms of the end of the Second World War.

They were close friends and would write handwritten letters to each other and addressed one another as Harry and Winston. Truman was also the only US president to visit Churchill at Chartwell, his family home.

Churchill also had a close relationship with another Democrat president, Franklin D Roosevelt. Their close bond during the Second World War was described as a friendship that saved the world.

Prime Minister Winston Churchill, left, of Great Britain and President Franklin Roosevelt faced reporters at the White House in Washington on Dec. 23, 1941 at a press conference in which the heads of two great world powers linked in a common war expresses confidence in victory. Churchill, with his customary black cigar, emphasizes his reply to a question with a gesture. (AP Photo)
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Prime minister Winston Churchill and president Franklin Roosevelt at the White House in Washington on 23 December, 1941. Pic: AP

One reason they got on famously was that they were both renowned cigar smokers. Like Churchill, Roosevelt’s cigar smoking was a widely reported part of his public persona after he became president.

But after Churchill’s bromances with Democrat presidents, his Conservative successor Anthony Eden fell out badly with the Republican president Dwight Eisenhower over the Suez Crisis in the mid-1950s.

And it was a Conservative prime minister and a Democrat president with seemingly nothing in common, the stuffy and diffident Harold Macmillan and the charismatic John F Kennedy, that repaired the damage.

“Between them they had rescued the special relationship after the rupture of the Suez Crisis, and done so at a time of uniquely high tensions around the world,” wrote British author Christopher Sandford in Harold And Jack, The Remarkable Friendship Of Prime Minister Macmillan And President Kennedy.

Harold Macmillan John F. Kennedy at Andrews Air Force Base.
Pic AP
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Harold Macmillan and John F Kennedy at Andrews Air Force Base. Pic: AP

It was the early 1960s and these were dangerous times, rather like now, of course. Back then it was the Berlin Wall, the Cuban missile crisis and threat of nuclear weapons.

“Through it all, the two leaders had exchanged not only formal messages but also a steady flow of handwritten notes, Christmas and birthday cards, congratulations, and, on occasion, condolences,” Sandford wrote.

But it was a relationship abruptly cut short in 1963, by “supermac’s” demise caused by the John Profumo sex scandal and then JFK’s assassination in Dallas just a month later.

“Like many of those who came into the Kennedys’ orbit,” the Washington Post wrote, “Macmillan was enchanted by Jacqueline Kennedy, and she seems to have happily entered into a father-daughter relationship with him that lasted long after her husband’s assassination.”

John F. Kennedy with John Diefenbaker and  Harold MacMillan, during luncheon at Balhi Hai, Bermuda in 1962.
Pic: AP
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John F Kennedy with Harold MacMillan, during lunch in Bermuda in 1962. Pic: AP

After Kennedy, the so-called “special relationship” cooled once again during the tenure of Labour’s Harold Wilson and Democrat Lyndon Johnson, when Wilson rejected pressure from Johnson to send British troops to Vietnam.

And even though Margaret Thatcher and Ronald Reagan were ideological soulmates, Thatcher was furious when she wasn’t consulted before the Americans invaded Grenada in 1983 to topple a Marxist regime.

Even worse, according to Thatcher allies, a year earlier Reagan had stayed neutral during the Falklands war. Reagan said he couldn’t understand why two US allies were arguing over “that little ice-cold bunch of land down there”.

Margaret Thatcher admiring Ronald Reagan's bear design silver cufflinks when the former California Governor visited her office.  She is holding a silver dollar medallion presented to her by Mr Reagan.
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Margaret Thatcher was frustrated with Ronald Reagan over his position on the Falklands. Pic: PA

Long before the accusations of Starmer’s Labour meddling in the Trump-Harris election, the Tories were accused of dirty tricks in the Bill Clinton-George HW Bush presidential election of 1992.

During the campaign the Home Office checked immigration nationality records to see whether Clinton applied for British citizenship while a student at Oxford University to escape the Vietnam draft. It wasn’t true.

US President Bill Clinton, left, toasts with British Prime Minister John Major during a formal dinner at the Prime Minister's official residence at No. 10 Downing Street, November 29
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US president Bill Clinton held a toast with John Major during a dinner at Downing Street. Pic: PA

Then prime minister John Major issued a grovelling public apology and Clinton was forgiving. In 1994 the “special relationship” received a huge boost when the president took Major to the home in Pittsburgh where his grandfather and father lived and worked.

Then it was back to Washington where Major became the first foreign leader to stay overnight in the Clinton White House. But as well as the flattery, the pair worked closely in the early stages of the Northern Ireland peace process.

Clinton’s political soulmate, of course, was Tony Blair. They were as close as Reagan and Thatcher. But it was with the Republican George W Bush that Labour’s Blair embarked on the defining mission of his premiership, the Iraq war.

Tony and Cherie Blair accompany U.S. President Bill Clinton and Hillary Clinton as they depart the White House February 6 enroute the presidential retreat at Camp David. The Blairs will spend Friday night and Saturday night with the Clintons at Camp David before leaving Washington early Sunday morning...CLINTON BLAIR
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The Blairs spent two nights with the Clintons at Camp David. Pic: AP

George “Dubya” Bush had defeated Clinton’s vice president Al Gore in the bitterly contested presidential election of 2000 and in early 2001 he entertained Blair at Camp David. It was to prove to be a historic encounter.

“He’s a pretty charming guy,” the president gushed at their news conference. “He put the charm offensive on me.” How many times have we heard that said about Tony Blair?

Then it got deeply personal. They were asked if they’d found something in their talks that they had in common. “Well, we both use Colgate toothpaste,” the president replied.

Quick as a flash, an embarrassed Mr Blair intervened: “They’re going to wonder how you know that, George.”

President George W. Bush and British Prime Minister Tony Blair walk together as they tour the grounds of Camp David February 23, 2001. The meeting is Bush's first with a European leader as he and Blair seek to reaffirm the special relationship which exists between the U.S. and Britain.
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Tony Blair and George W Bush first met in 2001. Pic: Reuters

The war was the turning point of Blair’s decade in Number 10. He was branded a liar over claims about Saddam Hussein’s “weapons of mass destruction”, he was vilified by the Labour left and it was the beginning of the end for him.

Some years later, the Tory prime minister sometimes called the “heir to Blair”, David Cameron, bonded over burgers with the Democrat president Barack Obama, serving a BBQ lunch to military families in the Downing Street garden.

Britain's Prime Minister David Cameron (L) and U.S. President Barack Obama serve food to a guest at a barbecue in the garden of 10 Downing Street, in central London May 25, 2011. U.S. President Barack Obama and British Prime Minister David Cameron on Wednesday will stress a united effort to pressure Libyan leader Muammar Gaddafi to step down, while glossing over differences between their two governments. REUTERS/Matt Dunham/Pool (BRITAIN - Tags: POLITICS IMAGES OF THE DAY)
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David Cameron and Barack Obama served burgers to guests in the Downing Street garden in 2011. Pic: Reuters

They seemed unlikely allies: Obama the first African-American president and Cameron the 19th old Etonian prime minister. It was claimed they had a “transatlantic bromance” in office.

The two leaders were often pictured together playing ping-pong or golf, eating burgers or watching a basketball game. “Yes, he sometimes calls me bro,” Cameron once said of president Obama.

Cameron even persuaded Obama to help the Remain campaign in the 2016 Brexit referendum, when he claimed the UK would be “at the back of the queue” on trade deals with the US if it left the EU.

U.S. President Barack Obama and British Prime Minister David Cameron smile after Obama missed a putt during a round of golf at The Grove golf course in Watford, England April 23, 2016.REUTERS/Kevin Lamarque
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David Cameron and Obama also enjoyed a round of golf. Pic: Reuters

Which brings us, neatly, to Sir Keir and president-elect Trump and the prime minister’s hopes of building a special relationship.

On the plus side, the president likes the UK – his mother was Scottish and he owns two golf courses in Scotland. And we’re told by Sir Keir that the dinner at Trump Tower in September went well. The mouthy Mr Lammy admitted he was even offered a second portion of chicken. “He was very gracious,” he claimed.

On the other hand, neither the prime minister nor the president smoke cigars, like Churchill and Roosevelt did. We’re not sure which toothpaste they use, unlike Bush and Blair, either.

Donald Trump works behind the counter during a visit to McDonald's in Feasterville-Trevose.
Pic Reuters
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Donald Trump served fries to customers at a fast food chain during the election campaign. Pic: Reuters

And while the president obviously likes burgers – he famously flipped them in a McDonald’s during the election campaign – and steak, well done, with ketchup, Sir Keir is vegetarian, though he does eat fish.

But if even a stuffy old toff like Harold Macmillan can get on well with the flamboyant JFK and glamorous Jackie Onassis, there’s hope for Sir Keir and that much-vaunted “special relationship”.

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Solana’s Loopscale pauses lending after $5.8M hack

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<div>Solana's Loopscale pauses lending after .8M hack</div>

<div>Solana's Loopscale pauses lending after .8M hack</div>

Solana decentralized finance (DeFi) protocol Loopscale has temporarily halted its lending markets after suffering an approximately $5.8 million exploit. 

On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne said in an X post. 

The exploit only impacted Loopscale’s USDC and SOL vaults and the losses represent around 12% of Loopscale’s total value locked (TVL), Gooneratne added. 

Loopscale is “working to resume repayment functionality as soon as possible to mitigate unforeseen liquidations,” its said in an X post. 

“Our team is fully mobilized to investigate, recover funds, and ensure users are protected,” Gooneratne said.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s ‘Genesis’ lending vaults. Source: Loopscale

In the first quarter of 2025, hackers stole more than $1.6 billion worth of crypto from exchanges and on-chain smart contracts, blockchain security firm PeckShield said in an April report. 

More than 90% of those losses are attributable to a $1.5 billion attack on ByBit, a centralized cryptocurrency exchange, by North Korean hacking outfit Lazarus Group.

Related: Crypto hacks top $1.6B in Q1 2025 — PeckShield

Unique DeFi lending model

Launched on April 10 after a six-month closed beta, Loopscale is a DeFi lending protocol designed to enhance capital efficiency by directly matching lenders and borrowers.

It also supports specialized lending markets, such as “structured credit, receivables financing, and undercollateralized lending,” Loopscale said in an April announcement shared with Cointelegraph. 

Loopscale’s order book model distinguishes it from DeFi lending peers such as Aave that aggregate cryptocurrency deposits into liquidity pools.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s daily active users. Source: Mary Gooneratne

Loopscale’s main USDC and SOL vaults yield APRs exceeding 5% and 10%, respectively. It also supports lending markets for tokens such as JitoSOL and BONK (BONK) and looping strategies for upwards of 40 different token pairs. 

The DeFi protocol has approximately $40 million in TVL and has attracted upwards of 7,000 lenders, according to researcher OurNetwork.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

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US Senator calls for Trump impeachment, cites memecoin dinner

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US Senator calls for Trump impeachment, cites memecoin dinner

US Senator calls for Trump impeachment, cites memecoin dinner

United States Senator Jon Ossoff expressed support for impeaching President Donald Trump during an April 25 town hall, citing the President’s plan to host a private dinner for top Official Trump memecoin holders. 

“I mean, I saw just 48 hours ago, he is granting audiences to people who buy his meme coin,” said Ossoff, a Democrat, according to a report by NBC News. 

“When the sitting president of the United States is selling access for what are effectively payments directly to him. There is no question that that rises to the level of an impeachable offense.”

Senator Ossoff said he “strongly” supports impeachment proceedings during a town hall in the state of Georgia, where he is running for reelection to the Senate.

The Senator added that an impeachment is unlikely unless the Democratic Party gains control of Congress during the US midterm elections in 2026. Trump’s own Republican Party currently has a majority in both the House of Representatives and the Senate. 

US Senator calls for Trump impeachment, cites memecoin dinner
TRUMP holders can register to dine with the US President. Source: gettrumpmemes.com

Related: US lawmaker says TRUMP coin could risk national security

Conflicts of interest

On April 23, the Official Trump (TRUMP) memecoin’s website announced plans for Trump to host an exclusive dinner at his Washington, DC golf club with the top 220 TRUMP holders. 

The website subsequently posted a leaderboard tracking top TRUMP wallets and a link to register for the event. The TRUMP token’s price has gained more than 50% since the announcement, according to data from CoinMarketCap.

The specific guest list is unclear, but the memecoin’s website states that applicants must pass a background check, “can not be from a [Know Your Customer] watchlist country,” and cannot bring any additional guests.

On April 25, the team behind TRUMP denied social media rumors that TRUMP holders need at least $300,000 to participate in an upcoming dinner with the president.

“People have been incorrectly quoting #220 on the block explorer as the cutoff. That’s wrong because it includes things like locked tokens, exchanges, market makers, and those who are not participating. Instead, you should only be going off the leaderboard,” they wrote.

Law, Politics, Senate, Donald Trump, trumpcoin, Memecoin
The TRUMP token jumped on news of the private dinner plans. Source: CoinMarketCap

Legal experts told Cointelegraph that Trump’s cryptocurrency ventures, including the TRUMP memecoin and Trump-affiliated decentralized finance (DeFi) protocol World Liberty Financial, raise significant concerns about potential conflicts of interest

“Within just a couple of days of him taking office, he’s signed a number of executive orders that are significantly going to affect the way that our crypto and digital assets industry works,” Charlyn Ho of law firm Rikka told Cointelegraph in February. 

“So if he has a personal pecuniary benefit arising from his own policies, that’s a conflict of interest.”

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

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Crypto sentiment recovers, but weekend liquidity risks remain

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Crypto sentiment recovers, but weekend liquidity risks remain

Crypto sentiment recovers, but weekend liquidity risks remain

Crypto investor sentiment has seen a significant recovery from global tariff concerns, but analysts warn that the market’s structural weaknesses may still result in downside momentum during periods of weekend illiquidity.

Risk appetite appeared to return among crypto investors this week after US President Donald Trump adopted a softer tone, saying that import tariffs on Chinese goods may “come down substantially.”

However, the improved investor sentiment “does not guarantee that Bitcoin will avoid volatility over the weekend,” analysts from Bitfinex exchange told Cointelegraph:

“Sentiment improvements reduce fragility, but they do not eliminate structural risks like thin weekend liquidity.” 

“Historically, weekends remain vulnerable to sharp moves — especially when open interest is high and market depth is low,” the analysts said, adding that unexpected macroeconomic news can still increase volatility during low liquidity periods.

Related: Trump fought the bond market, the bond market won: Saifedean Ammous

Bitcoin (BTC) staged a near 11% recovery during the past week, but its rally has previously been limited by Sunday liquidity dynamics.

Crypto sentiment recovers, but weekend liquidity risks remain
BTC/USD, 1-year chart. Source: Cointelegraph

Bitcoin fell below $75,000 on Sunday, April 6, despite initially decoupling from the US stock market’s $3.5 trillion drop on April 4 after US Federal Reserve Chair Jerome Powell warned that Trump’s tariffs may affect the economy and raise inflation.

The correction was exacerbated by the lack of weekend liquidity and the fact that Bitcoin was the only large liquid asset available for de-risking, industry watchers told Cointelegraph.

Related: US banks are ‘free to begin supporting Bitcoin’ — Michael Saylor

“While improved sentiment creates a more stable foundation, cryptocurrency markets are still susceptible to rapid movements during periods of reduced trading volume,” according to Marcin Kazmierczak, co-founder and chief operating officer of RedStone blockchain oracle firm.

“The sentiment recovery provides some cushioning, but traders should remain cautious as weekend liquidity constraints can still amplify price movements regardless of the current market mood,” he told Cointelegraph.

Crypto investors may have “maxed out on tariff-related fears”

Cryptocurrency markets may have priced in the full extent of tariff-related concerns, according to Aurelie Barthere, principal research analyst at crypto intelligence platform Nansen.

“It feels like we’ve maxed out on tariff-related fear,” she told Cointelegraph, adding:

“While many remain uncertain about where things are headed over the next month or so, it also seems like markets were just waiting for the slightest signal that we’re back in the game.”

“Whether the rally is sustainable depends on whether we can break through previous resistance levels, at least in isolation. It could have legs, as markets now seem to believe there’s a ‘Trump put’ under equities, the US dollar and US Treasurys,” Barthere added, warning of more potential volatility amid the upcoming negotiations.

Nansen previously predicted a 70% chance that crypto markets will bottom and start a recovery by June, but highlighted that the timing will depend on the outcome of tariff negotiations.

The tariff negotiations may only be “posturing” for the US to reach a trade agreement with China, which may be the “big prize” for Trump’s administration, according to Raoul Pal, founder and CEO of Global Macro Investor.

Magazine: Bitcoin’s odds of June highs, SOL’s $485M outflows, and more: Hodler’s Digest, March 2 – 8

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