Is history repeating itself in the row over Sir Keir Starmer’s voice coach Leonie Mellinger?
After all, she is not the first person who has coached a prime minister to be caught in political controversy.
After the Tories demanded a police probe, are there echoes of the row over Tony and Cherie Blair’s “lifestyle coach” Carole Caplin?
At Prime Minister’s Questions, Sir Keir defended meeting Ms Mellinger during lockdown in 2020, claiming “I was working” while the Tories were “partying”.
Image: Leonie Mellinger. Pic: Alan Davidson/Shutterstock
The Conservatives then stepped up their attacks, announcing that leader Kemi Badenoch wants a police investigation into whether laws were broken.
That is not going to happen, however. The Metropolitan Police said that because the alleged offence was more than three years ago, no action will be taken.
But have we been here before with a political row about a Labour prime minister receiving specialist coaching?
In the 1990s, before and after he became PM, Ms Caplin coached Sir Tony and wife Cherie, advising him on fitness and his wife on style.
And so, as the Tories continue attempting to embarrass Sir Keir over “Voice Coach Gate”, are there similarities between his voice coach and Ms Caplin?
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Earlier on Wednesday – PMQs
It has been suggested, for instance, that both have a racy past. Now 65, Ms Mellinger, an actress, was once married to the star of the “Confessions…” movies, Robin Asquith.
In her acting career, she appeared in Channel 4’s political comedy The New Statesman as the leather-clad wife of a Conservative MP.
She also appeared in the 1981 film of the bleak Doris Lessing novel Memoirs Of A Survivor, which also starred Nigel Hawthorne, later star of TV’s Yes Minister.
Carole Caplin, a former dancer who once dated Gary Numan and Adam Ant, hit the headlines in 1994 when The Sun published topless photos of her under the headline “Secrets of Blairs’ Girl Friday”.
To make matters worse, it happened at the very moment the then Labour leader, elected earlier in 1994, was celebrating a successful party conference speech.
But much worse was to follow. In 2002 it emerged that Ms Caplin’s boyfriend, Australian Peter Foster, was a conman with a conviction for conspiring to supply a weight-loss drink that turned out to be tea.
The problem was that Foster had helped Cherie Blair buy two flats in Bristol when their eldest son Euan was at university there. The result was one of the biggest controversies of Sir Tony’s premiership.
Image: Kemi Badenoch questioned whether a voice coach was a key worker
More than 20 years later, it is now Sir Keir’s turn to face questions about his own coaching.
In the Commons, Tory MP Gagan Mohindra challenged the PM: “Can he repeat his assurances that all rules were followed while the country was in tier 4 lockdown in December 2020, not just by him but his team as well, but also his voice coach Leonie Mellinger?”
Though he did not repeat the claim he made in Brussels on Monday that no rules were broken, a furious Sir Keir hit back: “In December 2020, I was in my office working on the expected Brexit deal.
“With my team we had to analyse the deal as it came in at speed, prepare and deliver a live statement at speed on one of the most important issues for our country in recent years. That’s what I was doing.
“What were they doing? Suitcases of food into Downing Street, partying and fighting, vomiting up the walls, leaving the cleaner to remove red wine stains. That’s the difference: I was working, they were partying.”
But a spokesman for the Tory leader responded: “The key question here is: is a voice coach a key worker who can travel from Tier 4 to Tier 3 during lockdown?
“It doesn’t matter if you’re part of a core team, that is the question. Now, Keir Starmer said that lawmakers can’t be lawbreakers. It is almost unimaginable to disagree that that was a clear breach of the COVID rules.”
And asked if Mrs Badenoch thought police should investigate, he said: “Yes, she does.”
Some years after the Carole Caplin controversy, Sir Tony wrote in his memoirs that she was “a good friend and reliable confidant” for his wife, but he should have acknowledged at the beginning that she was working for them.
And as for Sir Keir, the threat of a police investigation into allegations of breaking lockdown rules did not last long.
“We can confirm we have received a report,” said a Met Police spokesperson. “The specific legislation that would be used by police forces dealing with offences during COVID has a three-year deadline for initiating proceedings.
“As this alleged incident falls outside of this timeframe, no action will be taken.”
Blockchain gaming company Wemade is pushing for a Korean won-based stablecoin ecosystem, forming a Global Alliance for KRW Stablecoins (GAKS) with Chainalysis, CertiK and SentBe as founding partners.
Wemade announced that the alliance will support StableNet, a dedicated mainnet for Korean won-backed stablecoins, with publicly released code and a consortium model that aims to meet institutional and regulatory requirements.
Within the partnership, Chainalysis will integrate threat detection and real-time monitoring, while CertiK will handle node validation and security audits.
Money transfer company SentBe will contribute licensed remittance infrastructure across 174 countries. This allows the KRW stablecoin initiative to operate within South Korea’s regulated digital asset ecosystem.
The launch marks a coordinated effort from Wemade to reposition itself as a long-term infrastructure builder after years of setbacks, including token delistings and a bridge hack that undermined investor confidence.
Wemade’s push into stablecoin infrastructure follows a turbulent seven-year expansion from a traditional gaming studio into one of South Korea’s most ambitious blockchain builders.
The company launched its blockchain division in 2018 and expanded it from a four-employee team into a 200-person operation. Still, the rapid growth collided with the country’s evolving regulatory landscape, forcing the company to limit its play-to-earn (P2E) offerings to overseas markets.
Much of the pressure faced by Wemade centered on its native WEMIX token. In 2022, South Korean exchanges delisted the asset, citing discrepancies between its reported and actual supply. This resulted in a price drop of over 70% for the token.
The token suffered another major blow in 2024, when a bridge exploit resulted in 9 billion won (about $6 million) in losses. The company’s delayed disclosure attracted scrutiny and eroded further investor trust, leading to a second wave of token delistings.
The stablecoin pivot marks another attempt from Wemade to reset the narrative around the company and reposition its technology toward a more compliant and infrastructure-focused use case.
In a Korea Times report, the company said that it’s developing a KRW-focused stablecoin mainnet while avoiding becoming the stablecoin issuer itself. It’s positioning itself as a technology partner and consortium builder for other South Korean companies.
The Terra collapse in 2022 continues to cast a shadow over South Korea’s digital asset policy, leaving lawmakers and regulators particularly sensitive to risks associated with stablecoins.
The Financial Services Commission (FSC) and the Bank of Korea (BOK) have taken uncompromising stances since 2022, pushing for stricter liquidity, oversight and disclosure rules as they work on an upcoming stablecoin framework focused on risk-cointainment.
The central bank also advocated giving banks a leading role in stablecoin issuance, helping to mitigate risks to financial and foreign exchange stability.
The BOK warned that allowing non-banking institutions to take the lead in stablecoin issuance could undermine existing regulations.
Major cryptocurrency exchange KuCoin is the latest company to secure a license under the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework.
KuCoin’s European arm, KuCoin EU, secured a MiCA license from the Financial Market Authority of Austria, the company said in a statement shared with Cointelegraph on Friday.
The authorization allows KuCoin EU to offer crypto asset services across 29 countries in the European Economic Area (EEA), excluding Malta, according to the exchange’s representatives.
“Securing the MiCA license with our local entity in Austria is a defining milestone in KuCoin’s long-term trust and compliance strategy,” KuCoin CEO BC Wong said, adding that the regulatory framework is “one of the highest regulatory standards worldwide.”
Vienna as a strategic European crypto hub
KuCoin’s MiCA approval follows its license application filed in early 2025, arriving months after several crypto asset providers (CASPs), including Austria-based Bitpanda, had already secured MiCA authorization in other EU member states.
“The decision to choose Austria was primarily driven by the timely implementation of the MiCA accompanying laws, the stable and foreseeable regulatory environment as well as the huge talent pool,” the exchange said in a statement in February.
KuCoin is among six CASPs that secured MiCA licenses from Austria’s FMA. Source: FMA
Alongside KuCoin, Austria’s FMA has issued MiCA licenses to five more CASPs: crypto-friendly Amina Bank, Bitpanda, Bybit, Cryptonow and FIOR Digital.
“This milestone strengthens KuCoin’s commitment to responsible global expansion,” KuCoin CEO Wong said, adding: “Compliance is not simply a regulatory obligation — it is the foundation of our long-term mission to deliver secure, innovative, and accessible digital asset services to users worldwide.”
The IMF dropped an explanatory video on its X handle today exploring the new phenomenon of tokenized markets.
The international body responsible for ensuring the stability of the global monetary system recognized the advantages of tokenized markets in the video, but warned that they can be prone to flash crashes and are more volatile than traditional markets.
“Tokenization can make financial markets faster and cheaper, but efficiencies from new technologies often come with new risks,” the video said.
IMF lays out benefits of tokenized markets
The video frames tokenization as the next step in money’s evolution, explaining that tokenization can make it “faster and cheaper to buy, own, and sell assets” by cutting down the long chain of intermediaries.
Instead of relying on clearinghouses and registrars, a tokenized market can automate those functions in code.
According to the IMF, researchers studying early tokenized markets have already “found significant cost savings,” with programmability allowing near‑instant settlement and more efficient collateral use.
Still, the IMF stresses that those same efficiencies can amplify familiar dangers. Automated trading has “already led to sudden market plunges known as flash crashes,” and the IMF cautioned that tokenized markets, with instantly executed trading, “can be more volatile” than traditional venues.
In stressed conditions, complex chains of smart contracts “written on top of each other” may interact “like falling dominoes,” turning a local problem into a systemic shock.
The video also highlights the risk of fragmentation if many tokenized platforms emerge that “don’t speak to each other,” undermining liquidity and failing to deliver on the promise of faster, cheaper markets.
It also hinted at increased participation from governments. “Governments have rarely been content to stay on the sidelines during important evolutions of money.”
It added that, if history is any guide, they are likely to take “a more active role in the future of tokenization.”
Governments’ role in money shifts
History is littered with examples of global governments’ participation in monetary evolutions. In 1944, the Bretton Woods agreement saw governments actively redesign the global monetary system, fixing exchange rates to the United States dollar and tying the dollar itself to gold. It was a top‑down decision that shaped cross‑border finance for a generation.
When mounting fiscal costs and external imbalances made the gold peg unsustainable, the collapse of that framework in the early 1970s ushered in fiat currencies and floating exchange rates, alongside structurally larger public‑sector deficits in many advanced economies.
This is not the IMF’s first foray into tokenization. The fund has spent years probing the tokenization market structure and digital money. Shifting that analysis into a public‑facing explainer video shows that tokenization is now seen as a mainstream policy issue, rather than a niche experiment.
The IMF’s video posits that while tokenization may deliver faster, cheaper and more programmable markets, those markets will grow under close regulatory scrutiny and governments will be ready to intervene.