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Sacking Suella Braverman means “suicide” for the Tory party and Rishi Sunak has just “thrown the election away” according to leaked WhatsApp messages between members of a grassroots Conservative organisation leaked to Sky News.

Members of the Conservative Democratic Organisation (CDO), a momentum-style group created out of frustration at the ousting of Boris Johnson and Liz Truss and backed by Priti Patel, called on Tory MPs to submit letters of no confidence in Rishi Sunak after Monday’s reshuffle.

Conversations between CDO members on Monday reveal they believe “Sunak has committed political suicide” and “the cabinet is pretty much the exact opposite of what we voted for in 2019” while another asks “is it April Fool’s day???”

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The CDO, whose president is Lord Peter Cruddas, aims to change the rules of the Tory party to give the membership a bigger voice in its running.

Sky News has seen messages from regional WhatsApp groups where CDO members give their views on the reshuffle. Many, but not all, are Conservative members, and almost none are nationally recognisable figures so are not being named by Sky News.

These views are not representative, therefore, of the whole Tory membership, but represent a slice of Conservative thinking inside and outside the party. It chimes with some Tory MPs on the right who believe the reshuffle will bolster Reform UK, the right-wing party created from the Brexit Party.

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In the South East CDO group, one contributor calls the appointment of David Cameron a “very weak decision”, another calls it the “undoing of the party” and a third says “FFS”.

One says “the only good news would be if Kemi [Badenoch, business secretary] replaces [Chancellor Jeremy] Hunt but I can’t see it”.

Read more from Sam Coates:
Sunak mocked in leaked WhatsApps by grassroots
Scale of civil war between Tory MPs over police revealed

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Sky’s deputy political editor Sam Coates talks through the leaked messages

Some in relation to Cameron refer to conspiracy theories about an elite in Davos controlling the world.

“His biggest regret was Brexit, even though he was always a eurosceptic. Why? Because it robbed him of post PM £s on the Davos circuit. He’s back to redeem himself under Davos darling Nutsak”. “Nutsak” is an occasional nickname for Sunak in this group.

“I’ve not been this angry since Boris was forced out”, says one.

In the same group, they respond to the sacking of Ms Braverman as home secretary with dismay.

“I call on Conservative MPs to submit their VoNC [vote of no confidence] letters to the 1922 [Committee]. Rishi Sunak & his out-of-touch squad, must be outed from No10,” said one. Later that day, Tory MP Andrea Jenkyns did submit such a letter.

“Is Suella a member of the CDO?” asks one. “How can we help her and thereby help ourselves and our country? I am really unhappy about this… Let’s push for letters to go in.”

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Richard Holden’s appointment as party chairman is also the source of dismay because he is seen as close to Mr Sunak.

“Apparently an ex CCHQ staffer, otherwise known as a full commitment to the lunatics taking over the asylum,” one said.

Read the full exchanges below.

CDO SOUTH EAST

[08:39] Activist 1: Reshuffle starting now…

[08:40] Activist 1: Suella has just been sacked. The end of the Conservative party

[08:40] Activist 2: Harry Cole was reporting that it was expected because of the vague agenda for today.

[08:42] Activist 2: Let’s hope it’s the beginning of the end for Sunak

[08:4?] Activist 2: He’s now jumping to the bark of Labour

[08:45] Activist 3: If Suella has been sacked, then he should go. Is Suella a member of CDO? How can we help her and thereby help ourselves and our country? I am really unhappy about this.

[08:46] Activist 2: Now it’s time for the backbenchers to put up.

[08:46] Activist 3: Let’s push for the letters to go in.

[08:46] Activist 4: He is demonstrating he is a follower not a leader.

[08:47] Activist 2: It’s so weak. Even if he wanted to sack her he shouldn’t indulge in the left

[08:47] Activist 3: An unelected one at that. Disgraceful.

[08:47] Activist 5: Suella has been sacked – it’s on the news websites now.

[08:50] Activist 6: I call on Conservatives Mp’s to submit their VoNC letters to the 1922. Rishi Sunak & his out-of-touch squad, must be ousted from NO.10. To those few are still members, please write your Association(s). #Ready4Rishi2Go

[08:58] Activist 7: Sunak & he party is sunk. They’ve backed the wrong horse(s)

[08:59] Activist 2: Cleverly as HS

[09:00] Activist 8 : Not sure what he was thinking, she can do more damage to him on the backbenches! Thanks for that was about to write to Cleverly about a matter abroad!

CDO SOUTH WEST

[08:41] Activist 1: Suella has been sacked

[08:41] Activist 2: What an idiot!

[08:42] Activist 3: Activist Sunak got to go

[08:42] Activist 4: Well on the bright side Suella is free now to replace him when the time comes…

[08:43] Activist 5: It’s nothing like the party I joined in the 1970’s when we had a clear vision and direction. My MP doesn’t share many of my Conservative principles sadly like many of his colleagues.

[08:43] Activist 6: I think this trigger for letters to go in

[08:51] Activist 6: Tell your MP’s!

[08:54] Activist 5: Just sent an email to my MP

[08:57] Activist 6: Great yes pile on everyone

[10:13] Activist 2: There are no pliable MPs left for Sunak and his squad to call upon. What an utter clown show. What now Activist 6?

[10:15] Activist 6: Now letters must go in and Sunak replaced urgently. We could have a leadership election in 3 weeks including limited hustings and members vote.

[10:16] Activist 7: Do you think there are enough MPs with a backbone to do it though?

CDO LONDON

[07:08] Activist 1: The current Tory government

Rishi Sunak: Stabbed the one person who gave him a top job, rejected by us, done nothing in the year he’s been the cuckoo prime minister, rejected by the people according to the pills.

Hunt: Rejected by us 4 times and disliked by the people according to the polls.

Cameron: Didn’t like the result of a democracy so ran away and let down his constituency by resigning. Got caught being a naughty man.

Did I miss anything? :/

[08:42] Activist 2: He’s sacked Suella! He’s on a suicide mission for the party!

[08:43] Activist 3: Sunak has committed political suicide

That being said, I’m sure this is a positive step towards a Bravermen leadership.

[08:45] Activist 4: Time for the letters to go in! Let’s see what mess is made of reshuffle too.

[08:49] Activist 2: I’m furious.

[08:49] Activist 2: He is no Politician. He doesn’t understand that the Tory faithful are pretty much only still faithful because of Suella.

[08:52] Activist 2: I’m a party member, I’ve always voted Tory. I’m active in the local association and I am really struggling with the idea of voting for them at the next GE. Sorry, but they need a kicking.

[08:52] Activist 3: I would be furious if I wasn’t rather excited to watch Sunak’s unravelling and a (potential) leadership bid by Suella.

Rishi has signed his political death warrant, and Suella will be back – so the situation is bittersweet.

[09:50] Activist 5: This is just awful.

[09:50] Activist 5: Sunak is not even a Tory

[09:50] Activist 5: MPs: Get him out NOW!

[09:50] Activist 2: I’m so angry I can’t focus on work.

[10:13] Activist 6: I feel the same, I’m furious. Just watched the idiots on GB News saying Suella was out of control. She was the first minister in years I actually felt was a real Conservative with genuine Conservative values. I hope she runs for leadership and kicks Sunak to touch.

[10:19] Activist 2: This cabinet is pretty much the exact opposite of what we voted for in 2019.

[10:44] Activist 7: If she does and gets voted in overwhelmingly by the membership, the snakes will oust her, ignore us all and install another puppet!

[10:45] Activist 8: It’s 10:45.

What’s the delay in those letters to Sir Graham? There’s not a postal strike is there?

[10:45] Activist 9: Exactly, as we are unfortunately accustomed to.

[13:15] Activist 10: I see the ‘one nation’ tories are full of glee today.

[13:34] Activist 11: They won’t be after next year’s general election results.

[13:36] Activist 11: Although saying that, they might actually be gleeful, since they seem so hellbent on causing as much reputational damage to the party as possible.

CDO YORKSHIRE & HUMBER

[10:12] Activist 1: I can’t believe it. Suella sacked and Cameron in as foreign secretary!

[10:13] Activist 1: Is it April fools day????

[10:14] Activist 2: Incredible – has just thrown the election away! I bet Starmer sends him a crate of champagne to thank him! We need to get off our bums and write in and voice our anger.

[11:08] Activist 3: I wonder who made him sack her? Dr. No or another member of the cabal really running the country? Looks like time to quit the party for me.

[11.10] Activist 4: Stay as a member. You will have more influence in the future.

[11:10] Activist 5: It’s not our party anymore… It hasn’t been for a while.

[11:10] Activist 3: Exactly true!

[11:16] Activist 6: I’m not quitting. I want the satisfaction of being involved in rebuilding once these people have moved on. Unfortunately unless the backbenchers grow a pair we are going to have to go a few years of socialism in order to move them on .

[11:18] Activist 7: A few years? We’ll never get into power again… Votes will be opened up to 16 year olds, non-British nationals too.. We’ll then have another referendum and be back under the globalists boot. Democracy will be dead, and this party with its blatant corruption, enabled it.

[11:39] Activist 8:v I heard they’re going to change the membership vote for PM, just in case we have the audacity of not choosing the right person. It breaks my heart to say this, but the conservative party, that I’ve supported for years, is well and truly finished. A vote for this shower is a wasted vote.

[11:43] Activist 9: Will Cameron become leader?

[13:24] Activist 9: Hague orchestrated Cameron. It’s to stop a Boris or Farage come back.

[13:26] Activist 9: We need to split.

[13:38] Activist 9: Right wing members of 2 groups meeting this afternoon. Let’s see the letters but i think we need a breakaway.

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New York district gets interim US Attorney as ex-SafeMoon CEO trial kicks off

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New York district gets interim US Attorney as ex-SafeMoon CEO trial kicks off

New York district gets interim US Attorney as ex-SafeMoon CEO trial kicks off

Acting US Attorney for the Eastern District of New York (EDNY) John Durham has departed as President Donald Trump’s pick takes control of the office.

In a May 5 notice, the US Attorney’s Office for EDNY said Joseph Nocella will serve as interim US Attorney for the region for 120 days or until a Senate-confirmed nominee assumes the role. Nocella’s appointment came as jury selection began in the criminal trial of Braden John Karony, the former CEO of crypto firm SafeMoon.

It’s unclear how the advancement of Nocella, appointed by US President Donald Trump this month, could affect prosecutors’ case against Karony, who faces charges of securities fraud conspiracy, wire fraud conspiracy, and money laundering conspiracy. Nocella said he intended to help prosecute “narcotics-traffickers, gang members, terrorists, human-traffickers and other criminals.”

The former SafeMoon CEO asked the court in February to consider pushing back the start of the trial based on “significant changes” Trump had proposed affecting US securities laws, potentially impacting his criminal case.

Related: What do crypto users want to happen to Alex Mashinsky?

Though not as well known for criminal cases involving high-profile figures in the crypto industry, the Eastern District of New York has been responsible for overseeing cases against individuals tied to digital assets, including a Securities and Exchange Commission (SEC) complaint against Hex founder Richard Heart and fraudsters.

Its neighboring district, the Southern District of New York, will oversee the sentencing of former Celsius CEO Alex Mashinsky on May 8. Jay Clayton, a Wall Street insider and the former chair of the SEC, became the interim US Attorney for the district in April.

Criminal trial to start on May 6

SafeMoon’s Karony, Kyle Nagy, and Thomas Smith were charged in November 2023 for “diverted and misappropriated millions of dollars’ worth” of the platform’s SFM token between 2021 and 2022. Karony has pleaded not guilty to all charges and has been free on a $3 million bond since February 2024.

In a May 5 filing, Karony agreed to have jury selection for his trial proceed under US Magistrate Judge James Cho. District Judge Eric Komitee is expected to oversee the trial starting on May 6.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

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Trump’s crypto dealings face scrutiny as House Republicans unveil digital asset bill

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Trump’s crypto dealings face scrutiny as House Republicans unveil digital asset bill

Trump’s crypto dealings face scrutiny as House Republicans unveil digital asset bill

US President Donald Trump’s crypto businesses are drawing increased scrutiny on Capitol Hill and beginning to influence the progress of US digital asset legislation. As Republican lawmakers in the US House of Representatives unveiled their draft of a digital asset market structure bill on May 5, Democrats prepared for a united response to Donald Trump’s deepening connections with the industry.

Speaking to Cointelegraph on May 5, a Democratic staffer with knowledge of the matter said that House Financial Services Committee Ranking Member Maxine Waters planned to lead some members of her party out of a Republican-led hearing discussing digital assets. The May 6 hearing, entitled “American Innovation and the Future of Digital Assets” and led by Committee Chair French Hill, could address draft legislation proposed by Republican lawmakers to establish a crypto market regulatory structure.

In a May 5 statement, Rep. Hill and three top Republicans unveiled the draft bill, which could clarify the treatment of digital assets by the US’s financial regulators: the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Hill and others echoed some of Trump’s talking points on crypto — e.g, making the US a “crypto capital of the world” — suggesting deference to the president’s previously announced policies.

The draft bill included a provision requiring the SEC and CFTC to issue joint rules defining digital commodities. According to the text, transactions involving digital commodities “shall be deemed not to be an offer or sale of an investment contract” as long as the purchaser did not have “an ownership interest or other interest in the revenues, profits, or assets.”

According to the Democratic staffer, rules required all members of the House Financial Services Committee to agree to move forward with the digital asset hearing, suggesting that Waters intended to block the Republican-controlled event and conduct a shadow hearing to explore Trump’s and his family’s ties to the crypto industry. At least nine Democrats have reportedly considered a similar move to oppose a proposed stablecoin bill in the Senate.

Calls for impeachment, criticism from both sides

Some members of Congress have already called for Trump’s impeachment after he offered the opportunity for some of his top memecoin holders to tour the White House and attend a private dinner. In addition to the memecoin, the president’s family has backed the firm World Liberty Financial, which recently launched its own stablecoin, and an Abu Dhabi-based investment firm used the USD1 stablecoin to settle a $2 billion investment in Binance.

Related: US Senator calls for Trump impeachment, cites memecoin dinner

Waters, according to the staffer, requested that Hill and Republicans amend any proposed legislation to explicitly prevent potential conflicts of interest in which Trump could personally enrich himself through crypto ventures. Cointelegraph reached out to Hill’s office but did not receive a response at the time of publication. The Arkansas lawmaker reportedly said in March that the Trump family’s involvement in the crypto industry makes related legislation “more complicated.”

Republican lawmakers in the United States currently have control of the House, Senate, and presidency. At least two senators supportive of Trump have criticized his memecoin dinner, hinting that the president was selling access to his office. It’s unclear at the time of publication who among the memecoin holders could attend the May 22 dinner in person.

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

This is a developing story, and further information will be added as it becomes available.

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VanEck files for BNB ETF, first in US

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VanEck files for BNB ETF, first in US

VanEck files for BNB ETF, first in US

Asset manager VanEck has asked US regulators for permission to list an exchange-traded fund (ETF) holding BNB, the native token of Binance’s BNB Chain, regulatory filings show. 

The ETF is designed to accumulate spot BNB (BNB) tokens and “may, from time to time, stake a portion of the [fund’s] assets through one or more trusted staking providers,” according to the ETF’s S-1 prospectus. The filing marks the first time an asset manager has filed for a BNB ETF in the United States.

The BNB token has a market capitalization of roughly $84 billion, according to data from CoinMarketCap. As of May 5, BNB stakers earn a yield of approximately 2.5%, according to data from Stakingrewards.com

Binance’s BNB Chain is among the most popular smart contract networks, with a total value locked (TVL) of nearly $6 billion, according to data from DefiLlama. 

VanEck files for BNB ETF, first in US
BNB Chain is among the most popular blockchain networks. Source: DeFILlama

Related: Binance co-founder CZ proposes Bitcoin, BNB for Kyrgyzstan reserves

Bitcoin’s “spillover” effect?

The filing comes days after Binance co-founder Changpeng “CZ” Zhao reportedly said he expects the popularity of Bitcoin (BTC) ETFs to eventually “spill over” into altcoins.

“This cycle so far has been the ETFs. And it’s almost all Bitcoin. Ether hasn’t had as much success but Bitcoin success will spill over to the others eventually,” CZ reportedly said during the Token2049 conference in Dubai. 

Spot Bitcoin ETFs attracted net inflows of more than $40 billion since launching in January of 2024, according to data from Farside Investors.

Cryptocurrencies, Bitcoin Price, Investments, Markets, United States, Ethereum ETF, Bitcoin ETF, ETF
Cumulative inflows into spot BTC ETFs. Source: Farside Investors

VanEck’s filing is the newest in a flurry of filings seeking to list ETFs holding altcoins. 

The US Securities and Exchange Commission (SEC) has acknowledged dozens of cryptocurrency ETF proposals since US President Donald Trump took office on Jan. 20. 

They include plans for ETFs holding native layer-1 tokens such as Solana (SOL) as well as memecoins such as Dogecoin (DOGE).

VanEck has filed to list other cryptocurrency ETFs over the past few months, including funds holding Solana and Avalanche (AVAX).

Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet

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