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Here’s a rule I tend to apply across the board in Westminster: If a politician is talking, politics is probably taking place.

Add into that, if the topic of debate is especially grave or serious, be more prepared to apply the rule, not less.

Which brings us to the grooming scandal.

There is no doubt Tory leader Kemi Badenoch was politicising the issue when she ripped into the government in the Commons on Monday.

In fact, she admitted as much.

Asked about it during her news conference, she said: “When I’m in the Commons, I will do politics. If every time we are pointing things out and doing our job we are accused of politicising something, it makes it a lot harder.”

So the question here is less about whether politics is at play (it almost always is and that’s not necessarily a bad thing), and more about whose interests the politics is working towards.

In other words, does Ms Badenoch care about the grooming scandal because she cares about victims or because she cares about herself?

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Issue of men’s violence ‘risks being lost’

To answer that, it’s useful to try and pinpoint exactly when the Tory leader started showing such a keen desire for a public inquiry.

Was she always harbouring it? Or did it only arrive after Elon Musk and others pushed the scandal back up the news agenda?

On this, she’s not helped by the record of the governments she served in.

Yes, the broader child abuse inquiry was announced under David Cameron, but there was no specific statutory grooming inquiry.

As late as 2022, the then Tory safeguarding minister was batting away demands for a public inquiry on the basis that locally-led probes were preferable.

That is – as it happens – the same explanation the current Labour safeguarding minister Jess Phillips offered to Oldham Council in the rejection letter that sparked outrage and set us on a path to this eventual outcome.

Read more:
Officials tried to cover up grooming scandal, says Cummings

Why many victims welcome national inquiry into grooming gangs
Grooming gangs scandal timeline

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How Andrew Norfolk exposed grooming gangs

“If we’d got this right years ago then I doubt we’d be in this place now,” wrote Baroness Casey in her audit.

If Labour can be attacked for acting too slowly, the Tories – and by extension Ms Badenoch – can be too.

In response, her aides insist she was bound by collective responsibility while she was a minister, and that the issue was outside her brief.

Ms Badenoch also points to her work with patients of the now closed Tavistock Gender Identity Clinic as evidence of her track record campaigning for change in thorny policy areas.

In this context, the presence in the grooming scandal of questions around the role of gender and ethnicity mark this as an issue that you’d expect the Tory leader to not only be interested in, but to genuinely care about too.

But as previously discussed, just because a politician is somewhat sincere in what they are saying, doesn’t mean there isn’t a dollop of politics mixed in too.

And having dug out a recording of a post-PMQs briefing with Ms Badenoch’s media adviser from January, that certainly seems to be the case here.

Asked what had changed to trigger the calls for an inquiry, the spokesperson said: “We can all go back and look at the reasons why this entered the popular discourse. This is something that is of high public salience.”

Or to put it another way, the politics changed.

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Bitcoin to end four-year cycle, break out to new highs in 2026: Grayscale

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Bitcoin to end four-year cycle, break out to new highs in 2026: Grayscale

Bitcoin’s latest pullback may already be bottoming out, with asset manager Grayscale arguing that the market is on track to break the traditional four-year halving cycle and potentially set new all-time highs in 2026.

Some indicators are already pointing to a local bottom, not a prolonged drawdown, including Bitcoin’s (BTC) elevated option skew rising above 4, which signals that investors have already hedged “extensively” for downside exposure.

Despite a 32% decline, Bitcoin is on track to disrupt the traditional four-year halving cycle, wrote Grayscale in a Monday research report. “Although the outlook is uncertain, we believe the four-year cycle thesis will prove to be incorrect, and that Bitcoin’s price will potentially make new highs next year,” the report said.

Bitcoin pullback, compared to previous drawdowns. Source: research.grayscale.com

Related: Cathie Wood still bullish on $1.5M Bitcoin price target: Finance Redefined

Still, Bitcoin’s short-term recovery remains limited until some of the main flow indicators stage a reversal, including futures open interest, exchange-traded fund (ETF) inflows and selling from long-term Bitcoin holders.

US spot Bitcoin ETFs, one of the main drivers of Bitcoin’s momentum in 2025, added significant downside pressure in November, racking up $3.48 billion in net negative outflows in their second-worst month on record, according to Farside Investors.

Bitcoin ETF Flow, in USD, million. Source: Farside Investors

More recently, though, the tide has started to turn. The funds have now logged four consecutive days of inflows, including a modest $8.5 million on Monday, suggesting ETF buyer appetite is slowly returning after the sell-off.

While market positioning suggests a “leverage reset rather than a sentiment break,” the key question is whether Bitcoin can “reclaim the low-$90,000s to avoid sliding toward mid-to-low-$80,000 support,” Iliya Kalchev, dispatch analyst at digital asset platform Nexo, told Cointelegraph.

Related: Strategy unveils new credit gauge to calm debt fears after Bitcoin crash

Fed policy and US crypto bill loom as 2026 catalysts

Crypto market watchers now await the largest “swing factor,” the US Federal Reserve’s interest rate decision on Dec. 10. The Fed’s decision and monetary policy guidance will serve as a significant catalyst for 2026, according to Grayscale.

Markets are pricing in an 87% chance of a 25 basis point interest rate cut, up from 63% a month ago, according to the CME Group’s FedWatch tool.

Interest rate cut probabilities. Source: CMEgroup.com

Later in 2026, Grayscale said continued progress toward the Digital Asset Market Structure bill may act as another catalyst for driving “institutional investment in the industry.” However, for more progress to be made, crypto needs to remain a “bipartisan issue,” and not turn into a partisan topic for the midterm US elections.

That effort effectively began with the passage of the CLARITY Act in the House of Representatives, which moved forward in July as part of the Republicans’ “crypto week” agenda. Senate leaders have said they plan to “build on” the House bill under the banner of the Responsible Financial Innovation Act, aiming to set a broader framework for digital asset markets.

The bill is currently under consideration in the Republican-led Senate Agriculture Committee and the Senate Banking Committee. Senate Banking Chair Tim Scott said in November that the committee planned to have the bill ready for signing into law by early 2026. 

Magazine: Bitcoin to see ‘one more big thrust’ to $150K, ETH pressure builds