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“Relieved is an understatement”.

That’s how one senior government figure described their mood as the prime minister, his foreign secretary and the Number 10 team left the White House having cemented Sir Keir and President Trump’s personal relationship; secured a commitment to NATO; the prospect of a trade deal that could spare the UK from tariffs and the presidential nod on the Chagos deal.

That gives you a sense of just how much was at stake going into talks with a president that has heaped criticism on many old allies in recent weeks.

That the Starmer-Trump meeting went as well as it did is proof, say those around the prime minister, of how much legwork and meticulous planning has gone into pulling it off.

The work began in opposition with Keir Starmer calling President Trump after the assassination attempt, while his foreign secretary courted vice president JD Vance.

There was the dinner in Trump Tower in September and, ever since then a prime minister who has swerved any personal or public criticism of the president.

When the visit was confirmed, the Number 10 team war-gamed all the possibilities with the prime minister, I’m told, going through all the detail and planning with aides to “make the most of the visit”.

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They came out feeling that all the pieces fell into place with wins for the UK on trade and a “special” Keir Starmer coming through talks with President Trump that you could have a positive relationship with President Trump.

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‘I have a warm spot for the UK’

There were a few factors that helped the prime minister.

The first was the president’s genuine love for the UK and Sir Keir’s team’s understanding that President Trump is driven by personal relationships.

Get that right and much of the rest falls into place, say those who have seen him up close.

Sir Keir Starmer, the ponderous lawyer, has I’m told also built a genuinely warm relationship with President Trump: “They genuinely like each other and find each other easy to speak to,” is how one observer put it.

Then came the deployment of soft power.

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A panel of Sky reporters dissect the trans-Atlantic meeting.

I was in the Oval Office when the prime minister procured a personal letter from his jacket pocket from the King inviting President Trump for a second state visit.

Mr Trump was genuinely delighted as he read the letter, marvelled at King Charles’s signature and pointed out that this was the first time in history that anyone had been afforded such an “incredible” honour.

The prime minister also brought something to the table for a president that loves a deal.

The decision to lift defence spending to 2.5% of GDP by 2027 went down extremely well on Capitol Hill with Republicans and signalled to President Trump that the UK was an ally that had heeded his message on defence spending.

There were wins too.

Keir Starmer’s deal to transfer sovereignty over the Chagos Islands, where the US has a critical military base, to Mauritius, was backed by President Trump, a hugely welcome moment for a PM who has been heavily criticised about the deal back home.

And when I asked the president about his sharp remarks on EU tariffs – he said the union had been constructed to “screw” the US on trade – he told me he’d been having problems with the EU bit was in a “very different place” with the UK.

“I have a great warm spot for your country,” President Trump told me before the talks.

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An ‘intense session’ but ‘pretty good outing’

Afterwards, he told reporters at the press conference in the East Wing of the White House that there was a “very good chance” of a trade deal in which tariffs were not necessary.

Of course, there is a long way to go, but against a backdrop of a president threatening tariffs on a number of countries, that was a big win for the PM.

But if going out of this short visit was a story of trade, going into it was a focus on security guarantees for Ukraine.

Sir Keir said securing a backstop for European peacekeepers in Ukraine is the only way to contain President Putin.

Read more:
Starmer contradicts Vance over free speech claim
Read some of Trump’s letter from King Charles
Top five moments from Trump-Starmer press conference

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‘What a beautiful accent’

On this, President Trump was rather more noncommittal, stressing that the priority was to do the deal first and that the mineral agreement he is poised to sign with President Zelenskyy on Friday should be deterrent enough.

On Sunday, the PM will host 18 leaders in London to discuss what to do next.

Ultimately, Europe will need to know that the US has its back on Ukraine – the PM didn’t come away from the Trump meeting assured of that yet.

Although, the message for more NATO investment was heard loud and clear again, with an expectation from the British camp that more commitment on defence spending from Europe will be required by President Trump as part of any backstop deal.

What is clear coming out of this meeting is that Sir Keir and the UK could genuinely become the bridge between the US and Europe as the deteriorating relationship between Brussels and Washington offers Sir Keir the opportunity to take the centre stage.

After a bumpy start to his premiership, the prime minister has found in his endeavour on Ukraine, a means to show leadership – and perhaps a way to win doubtful voters back around.

He has managed to find a way with President Trump. Sunday’s summit is his next test as he brings together President Zelenskyy with fellow European leaders to try to hammer out a plan to support any peace deal.

Starmer was an unlikely war footing leader.

But he is finding a way.

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Government claims car interventions will save £500 a year – but only if you hit a pothole

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Government claims car interventions will save £500 a year - but only if you hit a pothole

Hitting potholes is “all too common”, a minister has insisted amid scrutiny of the government’s claim that new road measures will save drivers £500 a year.

Lillian Greenwood told Sky News Breakfast with Anna Jones that people face “eyewatering” costs if a pothole causes more damage to their car than a puncture, with the average repair job setting them back by £460, according to the RAC.

Politics Live: UK in ‘discussions’ with France over migrant returns deal

This, along with the continued freeze on fuel duty, will save drivers over £500 a year, the government has said, claiming its interventions are easing the cost-of-living crisis for drivers.

It was put to Ms Greenwood that the savings only apply if you hit a pothole in the first place.

Asked if she thinks it’s a common occurrence, she said: “Unfortunately, it’s all too common. And because we’ve had more than 10 years of the Conservatives under investing in our road network, that’s left it absolutely cratered with potholes.”

She said potholes are “probably the biggest issue” when she doorsteps constituents, adding: “They’re really angry about the state of their local roads.

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“Far too many people are hitting a pothole and finding they’re having to fork out to get their car fixed.”

Earlier this year, an annual industry report estimated that 17% of the local road network in England and Wales are in poor condition.

A pothole in the road.  Pic: iStock
Image:
Pic: iStock

It predicted that the one-time catch-up cost to clear the backlog of maintenance issues would cost £16.81bn and take 12 years to complete.

Chancellor Rachel Reeves’s autumn budget contained a £1.6bn investment to maintain roads and fix potholes, which it said was an increase of £500m on the 2024-25 budget.

Local authorities will get the first tranche of that money this month.

It comes ahead of the local elections in May, when support for drivers could become a dividing line.

Read More:
Prisons across England and Wales now 98.9% full
‘Likely’ British Steel will be nationalised, says business secretary

It was put to Ms Greenwood that while trumpeting its motorist-friendly credentials, Labour has also introduced a £1.7bn car tax raid and backed more 20mph low tariff neighbourhoods.

She said the government has left decisions on Low Traffic Neighbourhoods to local authorities and many people “want to see drivers going slower”.

The government’s announcement on savings today came alongside a pledge to remove 1,000 miles of roadworks over the Easter weekend in a bid to cut journey times.

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The works will be reinstated after Easter Monday.

However, bank holiday engineering works on the railway lines will not be halted, meaning there will be disruption for people who don’t have a car.

No trains are running from London Euston, affecting most of the Avanti West Coast line.

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China selling seized crypto to top up coffers as economy slows: Report

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China selling seized crypto to top up coffers as economy slows: Report

China selling seized crypto to top up coffers as economy slows: Report

Local governments in China are reportedly seeking ways to offload seized crypto while facing challenges due to the country’s ban on crypto trading and exchanges.

The lack of rules around how authorities should handle seized crypto has spawned “inconsistent and opaque approaches” that some fear could foster corruption, lawyers told Reuters for an April 16 report.

Chinese local governments are using private companies to sell seized cryptocurrencies in offshore markets in exchange for cash to replenish public coffers, Reuters reported, citing transaction and court documents. 

The local governments reportedly held approximately 15,000 Bitcoin (BTC) worth $1.4 billion at the end of 2023, and the sales have been a significant source of income.

China holds an estimated 194,000 BTC worth approximately $16 billion and is the second largest nation Bitcoin holder behind the US, according to Bitbo. 

Zhongnan University of Economics and Law professor Chen Shi told Reuters that these sales are a “makeshift solution that, strictly speaking, is not fully in line with China’s current ban on crypto trading.”

China selling seized crypto to top up coffers as economy slows: Report

Countries and governments that hold BTC. Source: Bitbo

The issue has been exacerbated by a rise in crypto-related crime in China, ranging from online fraud to money laundering to illegal gambling. Additionally, the state sued more than 3,000 people involved in crypto-related money laundering in 2024. 

China crypto reserve floated as solution

Shenzhen-based lawyer Guo Zhihao opined that the central bank is better positioned to deal with seized digital assets and should either sell them overseas or build a crypto reserve.

Ru Haiyang, co-CEO at Hong Kong crypto exchange HashKey, echoed the suggestion saying that China may want to keep forfeited Bitcoin as a strategic reserve as US President Donald Trump is doing. 

Related: Bitcoin rebounds as traders spot China ‘weaker yuan’ chart, but US trade war caps $80K BTC rally

Creating a crypto sovereign fund in Hong Kong, where crypto trading is legal, has also been proposed.

This issue has gained attention amid rising US-China trade tensions and Trump’s plans to regulate stablecoins and foster growth and innovation in the crypto industry.

Several industry observers have suggested that China’s tariff response could result in a devaluation of the local currency, which may result in a flight to crypto

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express

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3iQ’s Canadian Solana ETF selects Figment as staking provider

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3iQ’s Canadian Solana ETF selects Figment as staking provider

3iQ’s Canadian Solana ETF selects Figment as staking provider

Blockchain infrastructure provider Figment has been selected as the staking provider for 3iQ’s newly approved Solana exchange-traded fund (ETF), underscoring Canada’s continued efforts toward adoption of digital asset financial products.

Figment will enable institutional staking for the 3iQ Solana (SOL) Staking ETF, which launches on the Toronto Stock Exchange on April 16 under the ticker SOLQ, the companies said in a statement. In addition to 3iQ, Figment provides staking infrastructure solutions to more than 700 clients. 

The Ontario Securities Commission (OSC), a provincial regulator, green-lighted 3iQ’s SOL fund on April 14. The approval was also extended to other fund managers seeking to offer SOL ETFs, including Purpose, Evolve and CI.

As Bloomberg ETF analyst Eric Balchunas reported at the time, the funds are permitted to stake a portion of their SOL holdings through TD Bank, Canada’s second-largest financial institution by assets. 

3iQ’s Canadian Solana ETF selects Figment as staking provider

Source: Eric Balchunas

3iQ estimates that its SOL fund will provide yields of between 6% and 8%, according to its website

Related: Solana, XRP ETFs may attract billions in new investment — JPMorgan

3iQ leads Canadian crypto ETFs as US regulators drag their feet

As US regulators continue to consider various crypto-related fund offerings, Canada has been leading the curve in adoption going back to 2021. That was the year that 3iQ debuted its spot Bitcoin (BTC) ETF, which crossed $1 billion in net assets almost immediately. 

It would take nearly three more years before spot Bitcoin ETFs were approved in the United States. Like their Canadian counterparts, the US ETFs saw overwhelming success in their first year, generating more than $38 billion in net inflows.

In October 2023, 3iQ launched an ETF tied to Ether (ETH), giving investors direct access to the smart contract platform. Unlike the Ether ETFs that US regulators approved the following year, 3iQ’s fund offers staking rewards. 

As Cointelegraph recently reported, US regulators may be on the cusp of approving staking rewards after they authorized exchanges to list options contracts tied to ETH.

3iQ’s Canadian Solana ETF selects Figment as staking provider

Source: James Seyffart

Related: SEC delays staking decision for Grayscale ETH ETFs

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