For weeks – months even – we’ve been watching a beauty parade on the Conservative benches preparing for life after Rishi Sunak as various MPs hook up with various groupings of Conservative backbenchers hoping to garner support for the moment when the ball comes out of the scrum.
On the right, we have seen the ‘five families‘ of right-wing groupings, led by leadership hopefuls Suella Braverman and Robert Jenrick, trying to garner grassroots support by bouncing the prime minister (while Godfather fans will no doubt enjoy the reference to the five leading mafia dynasties of New York City, in the end there was little bloodletting and the prime minister won the day).
Then we have the Business Secretary Kemi Badenoch and Leader of the House Penny Mordaunt on manoeuvres – with briefings from ‘friends’ of the former distancing the cabinet minister from the prime minister’s Rwanda approach, while the latter is hitting the grassroots circuit hard while wooing those new candidates that might end up in the Conservative class of 2024.
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On Electoral Dysfunction this week, Ruth, Jess and I also had a chat about another contender flying below the radar but definitely positioning – Priti Patel. A former darling of the right, she was overtaken amid the demise of Boris Johnson by Ms Braverman, Ms Badenoch and Liz Truss. But now, the former home secretary and key Johnson ally is back, building her base almost entirely hidden from view.
Image: One MP is on manoeuvres to take over the Tory party if they lose the next election. Pic: PA
My ears were first pricked in December when I was talking to a senior figure in the ‘One Nation’ wing of the party – that is home to Tory MPs who are more socially liberal and politically positioned on the centre-right.
As this figure was bemoaning the horrors, as they saw it, of a Braverman leadership bid after the election, they told me that Priti Patel was at least someone on that wing of the party they could do business with. The former cabinet minister acknowledged that the right is likely to take the leadership crown after the election, given the leanings of the Conservative party members who get to choose, and that Patel looks, for now, the pick of an unpalatable bunch for Tory centrists.
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Image: Priti Patel is said to be on manoeuvres. Pic: Reuters
And then earlier this month, up Priti Patel popped at the launch of a new grouping – the Popular Conservatives – spearheaded (I know, the irony isn’t missed on me) by Liz Truss.
She is a politician building alliances over all sorts of groupings and even cross-party: when I raised Priti Patel as my dark horse in the likely up-and-coming leadership race, it certainly chimed with Ruth and Jess, with the latter telling us how surprised she’d been when former home secretary Amber Rudd, very much a One Nation Conservative, told her over dinner how she worked well with Priti: “I remember being like, how is this?”
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Jess also told me how Patel was with her after MP Sir David Amess was murdered in his constituency: “Those of us who are the highest security risk, of which I am one of ten, they really ramped up our security on these occasions, as they always do in these moments.
“And Priti Patel [who at the time was home secretary] was really good friends with David.
“I mean she was his [constituency] neighbour. And every Sunday night, for four weeks, at about 9pm at night, she would ring me and ask if I was all right. You don’t forget that sort of thing.”
Electoral Dysfunction
Listen to Beth Rigby, Jess Phillips and Ruth Davidson as they unravel the spin in a new weekly podcast from Sky News
It’s particularly pertinent this week as concerns over MPs’ safety come to the fore over the divisive vote around a ceasefire in Gaza. In the week parliament finally backed an immediate ceasefire – a position which has taken Labour months to move to – this significant moment was drowned out by the spectacle of wrangling and rows over parliamentary procedure and partisan point-scoring from which no one emerged well.
The Speaker has had a particularly torrid 24 hours as dozens of MPs called for him to go after Sir Lindsay Hoyle broke decades of parliamentary precedent to allow all three main parties to put their position on a ceasefire to a vote.
The effect was to let Labour off the hook by avoiding a massive rebellion because it meant Starmer’s MPs could vote for the Labour ceasefire amendment instead of having to defy the whip and support the SNP ceasefire motion. But the Speaker was clear his motive was all about MPs’ safety.
There are those in parliament – like Rishi Sunak – who believe strongly concerns over MPs’ safety shouldn’t ever influence business in the Commons, not least because it could set a dangerous precedent of MPs being intimidated in order to change what they debate and how they vote.
But there is also a lot of chatter on some of the female MPs’ WhatsApp groups about their experiences and concerns over threats, with some – particularly Labour women – having to deal with physical confrontations with protests over the Israel-Hamas conflict.
One Conservative MP told me this week she was “riddled with anxiety” ahead of this week’s vote over what to do. “I’m angry that we’re being put in this position,” she told me.
“We get cast as either child murderers or antisemitic and I’m neither. I believe a nation has a right to defend itself against terrorists but I’m also a pacifist.
“There is no nuance in [this] vote, which is totally irrelevant anyway, just a binary perception of whether you’re for or against a ceasefire.”
So for all of those MPs angry at Sir Lindsay, there are others who are quietly thankful that he takes their safety so seriously and tried to cushion the fallout of this divisive SNP opposition day.
For now, it looks like he’s staying in post. What I can also confidently say will be a mainstay of this year is MPs’ safety, as we head into what is almost certainly going to be a very nasty election campaign. Something for me, Jess, Ruth to chew over in coming episodes.
Satoshi Nakamoto, the pseudonymous creator of Bitcoin, marks their 50th birthday amid a year of rising institutional and geopolitical adoption of the world’s first cryptocurrency.
The identity of Nakamoto remains one of the biggest mysteries in crypto, with speculation ranging from cryptographers like Adam Back and Nick Szabo to broader theories involving government intelligence agencies.
While Nakamoto’s identity remains anonymous, the Bitcoin (BTC) creator is believed to have turned 50 on April 5 based on details shared in the past.
According to archived data from his P2P Foundation profile, Nakamoto once claimed to be a 37-year-old man living in Japan and listed his birthdate as April 5, 1975.
Nakamoto’s anonymity has played a vital role in maintaining the decentralized nature of the Bitcoin network, which has no central authority or leadership.
The Bitcoin wallet associated with Nakamoto, which holds over 1 million BTC, has laid dormant for more than 16 years despite BTC rising from $0 to an all-time high above $109,000 in January.
Satoshi Nakamoto statue in Lugano, Switzerland. Source: Cointelegraph
Nakamoto’s 50th birthday comes nearly a month after US President Donald Trump signed an executive order creating a Strategic Bitcoin Reserve and a Digital Asset Stockpile, marking the first major step toward integrating Bitcoin into the US financial system.
Nakamoto’s legacy: a “cornerstone of economic sovereignty”
“At 50, Nakamoto’s legacy is no longer just code; it’s a cornerstone of economic sovereignty,” according to Anndy Lian, author and intergovernmental blockchain expert.
“Bitcoin’s reserve status signals trust in its scarcity and resilience,” Lian told Cointelegraph, adding:
“What’s fascinating is the timing. Fifty feels symbolic — half a century of life, mirrored by Bitcoin’s journey from a white paper to a trillion-dollar asset. Nakamoto’s vision of trustless, peer-to-peer money has outgrown its cypherpunk roots, entering the halls of power.”
However, lingering questions about Nakamoto remain unanswered, including whether they still hold the keys to their wallet, which is “a fortune now tied to US policy,” Lian said.
In February, Arkham Intelligence published findings that attribute 1.096 million BTC — then valued at more than $108 billion — to Nakamoto. That would place him above Microsoft co-founder Bill Gates on the global wealth rankings, according to data shared by Coinbase director Conor Grogan.
If accurate, this would make Nakamoto the world’s 16th richest person.
Despite the growing interest in Nakamoto’s identity and holdings, his early decision to remain anonymous and inactive has helped preserve Bitcoin’s decentralized ethos — a principle that continues to define the cryptocurrency to this day.
The United States stock market lost more in value over the April 4 trading day than the entire cryptocurrency market is worth, as fears over US President Donald Trump’s tariffs continue to ramp up.
On April 4, the US stock market lost $3.25 trillion — around $570 billion more than the entire crypto market’s $2.68 trillion valuation at the time of publication.
Nasdaq 100 is now “in a bear market”
Among the Magnificent-7 stocks, Tesla (TSLA) led the losses on the day with a 10.42% drop, followed by Nvidia (NVDA) down 7.36% and Apple (AAPL) falling 7.29%, according to TradingView data.
The significant decline across the board signals that the Nasdaq 100 is now “in a bear market” after falling 6% across the trading day, trading resource account The Kobeissi Letter said in an April 4 X post. This is the largest daily decline since March 16, 2020.
“US stocks have now erased a massive -$11 TRILLION since February 19 with recession odds ABOVE 60%,” it added. The Kobessi Letter said Trump’s April 2 tariff announcement was “historic” and if the tariffs continue, a recession will be “impossible to avoid.”
Even some crypto skeptics have pointed out the contrast between Bitcoin’s performance and the US stock market during the recent period of macro uncertainty.
Stock market commentator Dividend Hero told his 203,200 X followers that he has “hated on Bitcoin in the past, but seeing it not tank while the stock market does is very interesting to me.”
Meanwhile, technical trader Urkel said Bitcoin “doesn’t appear to care one bit about tariff wars and markets tanking.” Bitcoin is trading at $83,749 at the time of publication, down 0.16% over the past seven days, according to CoinMarketCap data.