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A former Tory MP who was facing the prospect of being removed from his seat by voters has announced he is resigning from parliament – triggering another by-election.

Scott Benton, who represents Blackpool South, said it had been “the honour of a lifetime to represent our wonderful Blackpool community in parliament over the last four years”.

“It’s with a heavy heart that I have written to the chancellor this morning to tender my resignation as your MP,” he said in a post on X.

His resignation will trigger a by-election unless Prime Minister Rishi Sunak calls a general election sooner – something that is unlikely after he ruled out holding an election on 2 May and said he is still aiming for the second half of the year.

The by-election will be launched after MPs are asked whether they agree to it, which could be as early as tomorrow, Sky News understands. This means the contest may be held on the same day as the local elections on 2 May.

Mr Benton was elected to the Blackpool South seat in 2019 with a slim majority of 3,690 and Labour would hope to snatch it back in a by-election.

It is one of the “red wall” seats – the traditional Labour areas that switched to Boris Johnson’s Conservatives in 2019.

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Mr Benton was facing a recall petition that was due to close on 22 April, after he was suspended from the Commons for 35 days over his role in a lobbying sting.

MPs approved the suspension last month without the need for a vote.

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‘Has Rishi lost the dressing room?’

Mr Benton, who has been sitting as an independent, could have been forced out by voters had 10% of his constituents signed the recall petition that was generated following his suspension.

He has now announced he will quit parliament rather than wait for the petition’s outcome.

The outgoing MP had the Tory whip removed last April after suggesting to undercover reporters at The Times that he would be willing to break lobbying rules for money.

A subsequent investigation by parliament’s Standards Committee found he had committed a “very serious breach” of the rules and recommended a 35-day suspension from the Commons.

Mr Benton then appealed the decision, but it was dismissed by the Independent Expert Panel, the body that sits above the committee.

Labour’s shadow paymaster general Jonathan Ashworth said the MP should have resigned “much sooner”, telling broadcasters: “It’s absolute chaos in the Tory party today. A divided party, divided from top to bottom, and weak leadership under Rishi Sunak.

“We need this by-election now, as soon as possible. The Tories should move the writ and let’s get on and let’s elect a Labour MP who can represent the people of Blackpool here in the House of Commons.”

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The by-election will be the 23rd contest that has taken place this parliament and follows on from the most recent contest in Rochdale, which was won by left-wing firebrand George Galloway last month.

Earlier this month, Mr Sunak ruled out holding a general election on 2 May following speculation he could choose to go to the polls early.

The prime minister previously said it was his “working assumption” that an election would be held in the second half of this year but he had not previously ruled out a May date.

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Binance mulls new US strategy, CZ potentially reducing stake: Report

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Binance mulls new US strategy, CZ potentially reducing stake: Report

Binance, the world’s largest cryptocurrency exchange by trading volume, is considering a strategic reshuffling to strengthen its presence in the US market, a move that could see Binance co-founder Changpeng “CZ” Zhao’s majority stake in the company reduced.

Zhao’s controlling stake in Binance has been a “major hurdle” to the company expanding to strategically critical US states, according to Bloomberg, citing people familiar with the matter. Although no concrete plans have been announced, the conversation surrounding any potential action remains reportedly “fluid.” 

The company is also considering partnerships with US-based companies, including asset manager BlackRock and decentralized finance (DeFi) platform World Liberty Financial (WLFI), which is linked to US President Donald Trump, to strengthen its footprint in the country.

Rumors of Binance’s return to the US began to circulate in October after Trump pardoned Zhao, fueled by speculation from crypto industry executives and comments that Zhao made on social media.

“Will do everything we can to help make America the capital of crypto and advance Web3 worldwide,” Zhao said in October after the pardon.

Changpeng Zhao, United States, Binance
Source: CZ

In June 2019, Binance announced that it would stop serving US customers, and a separate company, called Binance.US and operated by BAM Trading Services, was formed to provide regulatory-compliant services to US users. 

In 2023, the US Securities and Exchange Commission alleged that Binance Holdings Ltd. operated both Binance.com and BAM Trading Services.

Binance.US does not feature crypto derivatives or access to the global Binance exchange’s liquidity and operates as a completely separate crypto exchange.

Cointelegraph reached out to Binance and Binance.US but did not receive a response by the time of publication.

The US is considered a key market for crypto exchanges and is ranked as the number two for global crypto adoption, according to Chainalysis’ 2025 Global Crypto Adoption Index. Expanding to the US would open up US liquidity to the world’s largest crypto exchange.

Changpeng Zhao, United States, Binance
Binance claims the top spot among centralized crypto exchanges in terms of trading volume. Source: CoinGecko

Related: Binance names co-founder Yi He co-CEO alongside Richard Teng

Several US lawmakers voice opposition to the CZ pardon and the crypto industry

Trump’s pardon of Zhao in October drew backlash from several Democratic Party lawmakers in the US, including Massachusetts Senator Elizabeth Warren and California Congresswoman Maxine Waters.

Waters said the pardon was a form of pay-to-play and accused Trump of doing political favors for the crypto industry that “helped line his pockets.”

Warren, who is one of the most vocal critics of the crypto industry, also criticized the pardon, characterizing it as “corruption.”  

The comments reflect pockets of resistance among some Democratic lawmakers to the crypto industry’s continued expansion in the US and could signal potential opposition to Binance returning to the US.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom