Following a barnstorming performance in this year’s local elections, they are now the most successful political party on TikTok, engaging younger audiences.
Image: ‘They don’t exclude anyone, we’re all the same,’ says this Reform supporter
I was at the local elections launch for Reform in March, looking around for any young women to interview who had come to support the party at its most ambitious rally yet, and I was struggling.
A woman wearing a “let’s save Britain” hat walked by, and I asked her to help me.
“Now you say it, there are more men here,” she said. But she wasn’t worried, adding: “We’ll get the women in.”
And that probably best sums up Reform’s strategy.
When Nigel Farage threw his hat into the ring to become an MP for Reform, midway through the general election campaign, they weren’t really thinking about the diversity of their base.
As a result, they attracted a very specific politician. Fewer than 20% of general election candidates for Reform were women, and the five men elected were all white with a median age of 60.
Polling shows that best, too.
According to YouGov’s survey from June 2025, a year on from the election, young women are one of Reform UK’s weakest groups, with just 7% supporting Farage’s party – half the rate of men in the same age group. The highest support comes from older men, with a considerable amount of over-65s backing Reform – almost 40%.
But the party hoped to change all that at the local elections.
Image: Sarah Pochin became Reform UK’s first woman MP in May. Pic: PA
Time to go pro
It was the closing act of Reform’s September conference and Farage had his most serious rallying cry: it was time for the party to “professionalise”.
In an interview with me last year, Farage admitted “no vetting” had occurred for one of his new MPs, James McMurdock.
Only a couple of months after he arrived in parliament, it was revealed he had been jailed after being convicted of assaulting his then girlfriend in 2006 while drunk outside a nightclub.
McMurdock told me earlier this year: “I would like to do my best to do as little harm to everyone else and at the same time accept that I was a bad person for a moment back then. I’m doing my best to manage the fact that something really regrettable did happen.”
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‘He wasn’t vetted,’ says Farage of MP
Later, two women who worked for another of Reform’s original MPs, Rupert Lowe, gave “credible” evidence of bullying or harassment by him and his team, according to a report from a KC hired by the party.
Lowe denies all wrongdoing and says the claims were retaliation after he criticised Farage in an interview with the Daily Mail, describing his then leader’s style as “messianic”.
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Farage leading a ‘cult’ says ex-Reform MP
A breakthrough night
But these issues created an image problem and scuppered plans for getting women to join the party.
So, in the run-up to the local elections, big changes were made.
The first big opportunity presented itself when a by-election was called in Runcorn and Helsby.
The party put up Sarah Pochin as a candidate, and she won a nail-biting race by just six votes. Reform effectively doubled their vote share there compared to the general election – jumping to 38% – and brought its first female MP into parliament.
The council results that night were positive, too, with Reform taking control of 10 local authorities. They brought new recruits into the party – some of whom had never been involved in active politics.
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Inside Reform’s election success
‘The same vibes as Trump’
Catherine Becker is one of them and says motherhood, family, and community is at the heart of Reform’s offering. It’s attracted her to what she calls Reform’s “common sense” policies.
As Reform’s parliamentary candidate for Hampstead and Highgate in last year’s general election, and now a councillor, she also taps into Reform’s strategy of hyper-localism – trying to get candidates to talk about local issues of crime, family, and law and order in the community above everything else.
Image: Catherine Becker believes Reform have widened their appeal by tapping into local issues
Jess Gill was your quintessential Labour voter: “I’m northern, I’m working class, I’m a woman, based on the current stereotype that would have been the party for me.”
But when Sir Keir Starmer knelt for Black Lives Matter, she said that was the end of her love affair with the party, and she switched.
“Women are fed up of men not being real men,” she says. “Starmer is a bit of a wimp, where Nigel Farage is a funny guy – he gives the same vibes as Trump in a way.”
Image: Jess Gill switched from Labour to Reform
‘Shy Reformers’
But most of Reform’s recruits seem to have defected from the Conservative Party, according to the data, and this is where the party sees real opportunity.
Anna McGovern was one of those defectors after the astonishing defeat of the Tories in the general election.
She thinks there may be “shy Reformers” – women who support the party but are unwilling to speak about it publicly.
“You don’t see many young women like myself who are publicly saying they support Reform,” she says.
“I think many people fear that if they publicly say they support Reform, what their friends might think about them. I’ve faced that before, where people have made assumptions of my beliefs because I’ve said I support Reform or more right-wing policies.”
Image: Anna McGovern defected to Reform from the Conservatives
But representation isn’t their entire strategy. Reform have pivoted to speaking about controversial topics – the sort they think the female voters they’re keen to attract may be particularly attuned to.
“Reform are speaking up for women on issues such as transgenderism, defining what a woman is,” McGovern says.
And since Reform’s original five MPs joined parliament, grooming gangs have been mentioned 159 times in the Commons – compared to the previous 13 years when it was mentioned 88 times, despite the scandal first coming to prominence back in 2011.
But the pitfall of that strategy is where it could risk alienating other communities. Pochin, Reform’s first and only female MP, used her first question in parliament to the prime minister to ask if he would ban the burka – something that isn’t Reform policy, but which she says was “punchy” to “get the attention to start the debate”.
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Reform UK MP pushes for burka ban
‘What politics is all about’
Alex Philips was the right-hand woman to Farage during the Brexit years. She’s still very close to senior officials in Reform and a party member, and tells me these issues present an opportunity.
“An issue in politics is a political opportunity and what democracy is for is actually putting a voice to a representation, to concerns of the public. That’s what politics is all about.”
Image: Alex Philips remains close to senior members of Reform UK
Luke Tryl is the executive director of the More In Common public opinion and polling firm, and says the shift since the local elections is targeted and effective.
Reform’s newer converts are much more likely to be female, as the party started to realise you can’t win a general election without getting the support of effectively half the electorate.
“When we speak to women, particularly older women in focus groups, there is a sense that women’s issues have been neglected by the traditional mainstream parties,” he says. “Particularly issues around women’s safety, and women’s concerns aren’t taken as seriously as they should be.
“If Reform could show it takes their concerns seriously, they may well consolidate their support.”
Image: Pollster Luke Tryl thinks Reform have become more targeted and effective
According to his focus groups, the party’s vote share among women aged 18 to 26 shot up in May – jumping from 12% to 21% after the local elections. But the gender divide in right-wing parties is still stark, Tryl says, and representation will remain an uphill battle for a party historically dogged by controversy and clashes.
A Reform UK spokesman told Sky News: “Reform is attracting support across all demographics.
“Our support with women has surged since the general election a year ago, in that time we have seen Sarah Pochin and Andrea Jenkyns elected in senior roles for the party.”
The debut of the Canary Capital XRP exchange-traded fund (ETF) is signaling renewed demand for altcoins, after the fund posted the strongest first-day performance of the more than 900 ETFs launched in 2025.
Canary Capital’s XRP (XRP) ETF closed its first day with $58 million in trading volume, marking the most successful ETF debut of 2025 among both crypto and traditional ETFs, said Bloomberg ETF analyst Eric Balchunas in a Thursday X post.
The new fund garnered over $250 million in inflows during its first trading day, surpassing the recent inflows of all other crypto ETFs.
Part of the reason behind the successful launch was the ETF’s in-kind creation model, according to ETF analyst Nate Geraci.
“A few people asking how it’s possible to have ‘only’ $59mil trading volume, but nearly $250mil inflows… The answer? In-kind creations, which don’t show up in trading volume,” wrote Geraci in a Thursday X post.
The in-kind redemption model enables the creation and redemption of ETF shares through the underlying asset, as opposed to cash-only transaction models. In this case, Canary Capital’s ETF shares can be exchanged for XRP tokens.
The US Securities and Exchange Commission (SEC) approved in-kind creation and redemption for cryptocurrency ETFs on July 29, Cointelegraph reported at the time.
SEC press release permitting in-kind creations and redemptions for crypto ETPs. Source: SEC
Smart money traders rotate into XRP longs after ETF debut
The launch of the ETF inspired a bullish rotation among the industry’s most successful traders, as tracked by returns and labeled as “smart money” traders on the crypto intelligence platform Nansen.
Smart money traders have added $44 million worth of net long XRP positions over the past 24 hours, signaling more upside expectations for the token.
Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen
The cohort was net long on the XRP token, with a cumulative $49 million, but remained net short on the Solana (SOL) token, with $55 million worth of cumulative short positions on the decentralized exchange Hyperliquid.
“XRP is holding near $2.30, showing relative stability but still feeling the effects of declining liquidity and cautious investor sentiment,” Ryan Lee, chief analyst at Bitget exchange, told Cointelegraph.
“For now, the setup looks like a healthy reset, not the end of the cycle, with both SOL and XRP well-positioned to lead the next wave once confidence snaps back.”
Spot Bitcoin ETFs saw $866 million worth of negative outflows on Thursday, their second-worst day on record, after the $1.14 billion daily outflows on Feb. 25, 2025, according to Farside Investors.
The multibillion-dollar scam known as “pig-butchering,” once treated as a consumer-fraud issue, has crossed a new threshold and is prompting concerns over national security.
In a podcast, Chainalysis head of national security intelligence, Andrew Fierman, and former prosecutor Erin West, founder of cross-sector anti-scam nonprofit Operation Shamrock, discussed how pig butchering is becoming a threat to national security.
“So if anybody is touching money in any way, you’re part of this. So you need to be prepared to understand the threat and the gravity of what’s happening on a national security level,” West said, highlighting the importance of education and awareness in combating crypto scams.
A pig-butchering scam is a long-term fraud strategy in which criminals attempt to establish trust with a victim, often through romance or friendship, before steering them into a fake cryptocurrency investment platform and draining their funds.
The growing scale of pig-butchering scams
In the podcast, the duo discussed how fraud rings across Southeast Asia operate dormitory-style scam compounds where trafficked workers contact unsuspecting victims, foster trust through romance and then push them into fake crypto investments with the goal of draining funds.
In 2023, the US Department of Justice (DOJ) seized about $112 million in crypto linked to pig-butchering scams. In a February report, Chainalysis said that pig-butchering scams increased by almost 40% year-over-year in 2024, while overall crypto scam revenue exceeded $9.9 billion.
In addition, one under-reported area of pig-butchering is that victims are often hit twice. The duo said in the podcast that after the initial scam, victims sometimes received follow-up contact from fake recovery firms claiming to assist in recovering the money.
“Once this happens to you, you will be put on a list […] and you are even more likely to get hit up again,” West said.
Fierman and West said these scams have matured into a transnational crime model, blending human trafficking, money laundering and crypto rails, making them far more complex than your everyday fraud.
Fierman suggested that blockchain’s transparency offers an opportunity for regulators, exchanges and virtual asset service providers (VASPs) to disrupt the scams.
“One of the benefits of the blockchain, at least as the mechanism for this, is that there is potential opportunity for disruption if it’s enabled right,” he said. “And the transparency of the blockchain gives that opportunity to potentially disrupt at the point of cash out.”
How authorities are stepping in
With the scams having a much wider impact, governments are stepping in. On Nov. 12, the DOJ announced the formation of a “Scam Center Strike Force” to target Chinese-linked transnational criminal organizations behind crypto investment fraud in Southeast Asia.
Simultaneously, regional law enforcement departments are enforcing freezes and sanctions to combat the issue. On Aug. 27, law enforcement in Asia Pacific (APAC) collaborated with Chainalysis, OKX, Tether and Binance to freeze $47 million in pig butchering funds.
The strategy is not simple, but it is clear. This is to disrupt the on-ramp and off-ramp points for scammers, sanction the facilitators and build private-public partnerships.
“My advocacy about transnational organised crime has been consistently: Use every tool in our arsenal. Sanctions, indictments, diplomatic pressure,” West said.
Like many scams, there are ways to spot a pig-butchering scam. The scam often involves manipulating feelings, which means someone expressing strong feelings for you too quickly through online channels, especially without meeting, may be a scam.
It becomes more suspicious if whoever you’re in touch with refuses to share personal information or professional credentials.
One of the main signs it’s a pig-butchering scam is when the person starts asking for money, even if they claim it’s for an emergency.
This also takes the form of risk-free investments and easy money, often showing fake screenshots of massive profits to convince their victims to invest.
Demand for Bitcoin and crypto-linked investment funds continued to decline Thursday, despite the long-awaited end of the 43-day US government shutdown.
US spot Bitcoin (BTC) exchange-traded funds (ETFs) saw $866 million in net outflows on Thursday, marking their second-worst day on record after the $1.14 billion daily outflows on Feb. 25, 2025, according to Farside Investors.
This marked the second consecutive day of outflows for the Bitcoin ETFs, as the end of the 43-day US government shutdown failed to reignite investor appetite.
The $866 million outflows occurred a day after President Donald Trump signed a government funding bill on Wednesday. The bill provides funding until Jan. 30, 2026.
Bitcoin ETF flows (in USD, million). Source: Farside Investors
The lack of ETF demand is causing significant concerns among crypto investors, as these funds were the primary drivers of Bitcoin’s momentum in 2025, alongside Michael Saylor’s Strategy.
However, Bitcoin’s bull market is still intact until the price falls below the key $94,000 level, or the average cost basis of investors who bought Bitcoin in the past six to 12 months, according to Ki Young Ju, founder and CEO of crypto intelligence platform CryptoQuant.
“Personally, I do not think the bear cycle is confirmed unless we lose that level. I would rather wait than jump to conclusions,” wrote Ju in a Friday X post.
Other industry watchers argued that the four-year cycle theory is no longer relevant, given the introduction of Bitcoin ETFs and the new US administration.
“Since the launch of the Bitcoin ETFs and new administration, we’ve entered a new market structure,” wrote Hunter Horsley, the CEO of asset management firm Bitwise, in a Thursday X post.
“I think there’s a pretty good chance that we’ve been in a bear market for almost 6 months now and are almost through it.”
“The setup for crypto right now has never been stronger,” Horsley added.
“Congrats to $XRPC for $58m in Day One volume, the most of any ETF launched this year (out of 900), BARELY edging out $BSOL’s $57m,” wrote Bloomberg ETF analyst Eric Balchunas in a Thursday X post.
“The two of them are in league of their own, tho as 3rd place is over $20m away,” he added.
As for the other crypto funds, Ether (ETH) ETFs logged $259 million in outflows on Thursday, but the Solana (SOL) ETFs received $1.5 million in inflows, extending their 13-day winning streak, according to Farside Investors.