Leaders and politicians of all parties are coming out swinging today as the general election campaign enters the final days.
Rishi Sunak is today saying that Labour would cause “irreversible damage within just 100 days of coming to power”, while his top lieutenants warn of the “danger” of a government led by Sir Keir Starmer.
With polls throughout the campaign showing the Conservative Party failing to make a dent in Labour’s 21-point lead, according to the Sky News Poll Tracker, the prime minister only has days to change minds across the country in his bid to retain power.
Meanwhile, the Labour leader is arguing that if the Conservatives are re-elected, “they will feel entitled to continue serving themselves, rather than putting the needs of our country first”.
Liberal Democrat leader Sir Ed Davey is continuing to promote his party’s proposals for the NHS, while SNP leader John Swinney is arguing that the Scottish public should “vote SNP to put Scotland’s interests first”.
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The Conservative Party is continuing its warning that a Labour government would see taxes rise, and the prime minister is arguing electing Sir Keir would do “irreversible damage within just 100 days of coming to power”.
Mr Sunak said that Labour’s plans to impose VAT on private school fees would risk “throwing thousands of families’ plans for the autumn term into chaos, with children wondering if they will have a desk at school to go back to”.
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And he also claimed that Labour would make Britain the “soft touch migrant capital of the world” with “open borders” and an “illegal migrant amnesty”.
The prime minister added: “They cannot be trusted. We must not surrender our taxes, our borders and our security to them. Only the Conservatives will deliver tax cuts, a growing economy and a brighter, more secure future for everyone.”
Image: Rishi Sunak speaking at a Hindu temple in northwest London on Saturday. Pic: PA
Foreign Secretary Lord Cameron went further in an interview with The Sunday Times, suggesting that a Labour government would be a threat to national security.
He told the newspaper that Sir Keir “is in danger of weakening Britain’s position and weakening Britain’s defences, all in a way that’s completely unnecessary”.
The ex-prime minister described Labour as “hopelessly naive about the dangerous world in which we’re living”, adding: “The last thing we need in Britain now is another liberal leftie lawyer running the country.”
But Sir Keir hit back, noting that the government has already given him “high level sensitive briefings, so much do they trust us on national security”.
“To now turn around and make this ridiculous claim just shows how desperate they have become going into this election,” he added.
Starmer appeals for ‘clear mandate’ to govern
The Labour leader and the potential next chancellor, Rachel Reeves, also spoke to The Sunday Times, and they talked about their goal of getting housebuilding ramping up “on day one” if they win the election.
Image: Keir Starmer with wife Victoria (right) and deputy Labour leader Angela Rayner at the Royal Horticultural Halls in central London on Saturday. Pic: PA
The newspaper reports that at least three housing announcements are expected to be made within the first fortnight of a Labour government, saying that opportunities for young people from working-class backgrounds to own their own home “don’t exist”.
And in an article for The Observer, Sir Keir wrote that if voters elect Labour on Thursday, “the work of change begins” and they will “get to work on repairing our public services with an immediate cash injection, alongside urgent reforms”.
He also attacked the Tories’ record in power, saying if they are re-elected, “Britain will remain stuck in their low-growth, high-tax, declining public services doom-loop”.
“The unfunded splurge contained in their manifesto will unleash chaos into our economy once again. And they will feel entitled to continue serving themselves, rather than putting the needs of our country first,” he added.
“Frankly, should they win another five years after everything they’ve put us through in this parliament, they would surely think they could get away with anything.”
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2:26
What do voters think of manifestos?
He appealed for a “clear mandate” to implement his plans, pointing to “chaos” under Mr Sunak and Liz Truss before him as examples of what happens when prime ministers seek to “govern without that mandate”.
Meanwhile in Scotland, the leader of the SNP is appealing to Scots to back his party as polls show that Labour could become the largest Scottish parliamentary contingent in over a decade.
John Swinney argued that while “the result in England is now inevitable”, in “most seats in Scotland it’s too close to call between the SNP and Labour”.
Image: SNP leader John Swinney (right) and SNP candidate Tommy Sheppard serve pizza at Portobello Beach and Promenade, Edinburgh. Pic: PA
He hit out at the Labour Party, saying a Starmer government “plans to impose £18bn of cuts to public spending – after years of austerity, Brexit and the ongoing cost of living crisis”.
To avoid that, he said, and to “ensure that decisions about Scotland are made in Scotland, then you’ve got to vote SNP”.
“The SNP offers Scotland the hope of a better future – but you have to vote for it. This Thursday, vote SNP to put Scotland’s interests first,” he added.
Tories have ‘failed’ to support families in grief
The Liberal Democrats are continuing to unveil policies, focused on the NHS and reversing “heartless Tory cuts” to bereavement payments.
On the latter as it stands, a bereaved family where a spouse or partner has died receives a lump sum of up to £3,500, followed by a monthly payment of up to £350 for 18 months.
Image: Sir Ed Davey tries his hand at archery in Little Paxton, Cambridgeshire. Pic: PA
The party is calling for this period to be extended, and is pledging to inject an additional £440m a year into the system by 2028-29 to fund it.
Sir Ed Davey said in a statement: “Rishi Sunak’s government has failed to ensure families are not left struggling to pay the bills at such a difficult period of time.
“The Liberal Democrats would treat families and children who lose a loved one with dignity and provide the support they deserve.”
He also reiterated his party’s pledge to give people a legal right to see a GP within a week and start cancer treatment within two months, with Sir Ed saying that his party has “put health and care at the heart of our fair deal for the country”.
Farage goes on the attack
Meanwhile, Reform UK is on the offensive after facing a slew of racism allegations over recent days.
Image: Nigel Farage during a BBC Question Time Leaders’ Special at the Midlands Arts Centre in Birmingham. Pic: PA
The party yesterday withdrew support for three candidates, and it came on the heels of Channel 4 news airing footage filmed undercover that showed Andrew Parker, an activist canvassing for Mr Farage, using the racial slur “P***” to describe the prime minister, describing Islam as a “disgusting cult”, and saying the army should “just shoot” migrants crossing the Channel.
Nigel Farage has gone on the attack, with the party saying it has reported Channel 4 to the elections watchdog for alleged “scandalous… interference” over what the party claims was a fake rant planted by the broadcaster.
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The key election words you need to know
Mr Farage also hit out at the BBC, saying he would refuse to appear on their flagship Sunday morning show until they apologise for their “dishonest” audience during a BBC Question Time special on Friday, accusing the broadcaster of having “behaved like a political actor throughout this election”.
He will hold a vast rally in Birmingham later today, after speaking to Sky News from Sunday Morning With Trevor Phillips at 8.30am.
Reform UK leader Nigel Farage will be joining Sky News’ Trevor Philips from 8.30am this morning on his last programme before the election – along with Deputy Prime Minister Oliver Dowden, Labour’s national campaign coordinator Pat McFadden, and SNP leader and Scottish First Minister John Swinney.
Michael Selig, currently serving as chief counsel for the crypto task force at the US Securities and Exchange Commission, will face questioning from senators next week in a hearing to consider his nomination as the chair of the Commodity Futures Trading Commission.
On Tuesday, the US Senate Agriculture Committee updated its calendar to include Selig’s nomination hearing on Nov. 19. The notice came about two weeks after the SEC official confirmed on social media that he was US President Donald Trump’s next pick to chair the agency following the removal of Brian Quintenz.
Hearings for Quintenz, whom Trump nominated in February, were put on hold in July amid reports that Gemini co-founders Cameron and Tyler Winklevoss were pushing another candidate. Quintenz later released private texts between him and the Winklevoss twins, signaling that the Gemini co-founders were seeking certain assurances regarding enforcement actions at the CFTC.
Since September, acting CFTC Chair Caroline Pham has been the sole commissioner at the financial agency, expected to have five members. Pham said earlier this year that she intends to depart the CFTC after the Senate votes on a new chair, suggesting that, if confirmed, Selig could be the lone leadership voice at one of the US’s most significant financial agencies.
US Senate committee releases draft market structure bill
Whether Selig is confirmed or not, the CFTC is expected to face significant regulatory changes regarding digital assets following the potential passage of a market structure bill.
In July, the US House of Representatives passed the CLARITY Act. The bill, expected to establish clear roles and responsibilities for the SEC and CFTC over cryptocurrencies, awaits consideration in the Senate Agriculture Committee and Senate Banking Committee before potentially going to a full floor vote.
On Monday, Senate Republicans on the agriculture committee released a discussion draft of the market structure bill, moving the legislation forward for the first time in weeks amid a government shutdown and congressional recess.
The agriculture committee oversees laws affecting commodities and the regulators responsible for them, such as the CFTC, while the banking committee has jurisdiction over securities and oversees the SEC.
When FTX filed for bankruptcy on Nov. 11, 2022, it sent shockwaves throughout the crypto world, erasing billions in market liquidity and shattering confidence in centralized exchanges.
The dramatic collapse became a turning point for the digital asset industry, triggering calls for stronger transparency and reactions from regulators.
Three years after the exchange’s collapse, transparency initiatives across the crypto industry have proliferated. Proof-of-reserves attestations, audits and onchain analytics represented progress. Still, many of those reforms remain works in progress, and some of FTX’s creditors have yet to be made whole.
CEXs forced to adjust post FTX
Centralized exchanges bore the full impact of the post-FTX crisis of confidence. In the weeks following the bankruptcy, users withdrew more than $20 billion from major trading platforms, according to CoinGecko data.
In response, exchanges began publishing proof-of-reserves (PoR) attestations to demonstrate solvency. Binance released its first report on Nov. 10, 2022, followed by a Merkle Tree-based report a few days later that allowed users to verify its Bitcoin (BTC) holdings.
Around that time, OKX, Deribit and Crypto.com all published proofs-of-reserve amid fears of contagion and uncertainty surrounding crypto exchanges.
While these efforts offered some visibility into reserves, most relied on snapshots rather than continuous audits and often drew criticism from the crypto community.
One X user, David Gokhshtein, said at the time that publishing proof-of-reserves wasn’t enough. “When you aren’t showing the company’s liabilities, it means nothing,” he wrote.
Thomas Perfumo, Kraken’s global economist, told Cointelegraph that the “hard lessons of the past were never an indictment of crypto,” adding that the FTX debacle reinforced the “governance and integrity matter.”
Decentralized finance protocols also adapted following the collapse, pushing calls not only for transparency but also for self-custody as an essential safeguard for crypto users.
“We’ve seen a notable shift,” Eddie Zhang, president of dYdX Labs, told Cointelegraph. According to Zhang, DeFi now operates under stronger risk frameworks while “governance is becoming more sophisticated,” with systems that “withstand market shocks.”
Despite the industry’s transparency campaigns and recent regulations, such as the GENIUS Act in the United States and the European Union’s Markets in Crypto-Assets Regulation, some FTX creditors have yet to recover their losses.
According to a Nov. 9 update by Sunil Kavuri, a FTX creditor representative, the exchange has distributed $7.1 billion to creditors across three rounds so far.
In January, FTX announced the distribution of more than $1.2 billion in repayments to creditors who fulfilled certain requirements before Jan. 20. However, according to Sunil, only $454 million was effectively paid in the first round, going to small claimants with balances under $50,000.
A larger $5 billion payout followed on May 30, while the latest round took place on Sept. 30 and distributed another $1.6 billion to creditors. The next distribution is expected in January 2026, though it has not been confirmed by the FTX estate.
FTX’s total recovered assets were estimated at about $16.5 billion in October 2024.
According to Kavuri, because repayments are being made in US dollars rather than in-kind crypto assets, creditors are missing out on the market’s rebound since 2022.
Bitcoin, valued at $16,797 the day after FTX filed for bankruptcy, was trading around $103,000 on Tuesday.
Even with cash repayments exceeding the original claim amounts, real recovery rates could range from 9% to 46% when adjusted for current crypto prices, Kavuri said.
Former FTX CEO Sam Bankman-Fried is serving a 25-year prison sentence for fraud and conspiracy but has appealed his conviction, arguing that he was denied the presumption of innocence and barred from presenting evidence that FTX was, in fact, solvent in November 2022. His legal team appeared before the US Court of Appeals for the Second Circuit on Nov. 4.
Prediction market Polymarket currently assigns only a 4% probability that Bankman-Fried will receive a presidential pardon in 2025. Former Alameda Research CEO Caroline Ellison, who cooperated with prosecutors, began serving her sentence in late 2024 and is projected to be released in mid-2026.
SBF’s chances of being pardoned this year. Source: Polymarket
John Deaton, a lawyer who advocates for XRP holders and ran against Massachusetts Senator Elizabeth Warren in the 2024 US election, is making another bid for Congress.
At a Monday event in Worcester, Massachusetts, Deaton announced that he would run for US Senate again in 2026, this time attempting to unseat Democratic Senator Ed Markey. The lawyer ran as the Republican candidate in 2024, losing to Warren, a Democrat, by about 700,000 votes.
“I’m winning this time,” Deaton said in a campaign video aired at the Worcester event.
John Deaton announcing his second run for the US Senate in Worcester on Monday. Source: John Deaton
Deaton, who said he will run as a Republican to unseat Markey, will likely face competition on both sides of the aisle in 2026. His campaign announcement did not specifically focus on digital asset policy, but he and Warren had previously clashed over their respective views on crypto.
Deaton gained widespread recognition in the crypto industry by advocating on behalf of XRP (XRP) holders in Ripple Labs’ legal battle with the US Securities and Exchange Commission (SEC).
Seth Moulton, who represents Massachusetts’s 6th Congressional District in the US House of Representatives, is a Democratic contender in the 2026 race. Markey, who will be 80 next year, voted against the passage of the GENIUS stablecoin bill and has called out crypto mining for its “extravagant electricity use.”
Looking at a repeat of 2024?
“We’re never going to not be excited about someone advocating for [crypto] policy,” Mason Lynaugh, community director of Stand With Crypto, told Cointelegraph. “He’s going to have his own voters he’s going to cultivate that are very excited to see someone like him saying these types of things publicly.”
It’s unclear what Deaton’s chances would be in a US state that typically swings to the Democrats.
During his previous Senate campaign, cryptocurrency executives from Ripple, Gemini and Kraken supported Deaton’s run, contributing more than $360,000 in the first quarter of 2024.