JD Vance denies insulting British troops over ‘random country’ jibe
JD Vance has hit back at criticism after saying a potential peacekeeping force in Ukraine would be “20,000 troops from some random country that hasn’t fought a war in 30 or 40 years”.
The US vice president was accused of “disrespecting” British forces who served alongside the US in Iraq and Afghanistan, with a former veterans minister branding him a “clown” who needs to “check his privilege”.
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Although the UK and France are the only countries to have pledged troops to a potential peacekeeping force, Mr Vance said the suggestion he was referring to those two allies is “absurdly dishonest”.
“I don’t even mention the UK or France in the clip, both of whom have fought bravely alongside the US over the last 20 years, and beyond,” he said in a post on X.
“There are many countries who are volunteering (privately or publicly) support who have neither the battlefield experience nor the military equipment to do anything meaningful.”
Mr Vance made the initial comments to Fox News on Tuesday, saying the only security guarantee Donald Trump will provide for Ukraine is a minerals deal.
He said: “The president knows that if you want real US security guarantees, if you want to actually ensure that Vladimir Putin does not invade Ukraine again, the very best security guarantee is to give Americans economic upside in the future of Ukraine.
“That is a way better security guarantee than 20,000 troops from some random country that hasn’t fought a war in 30 or 40 years.”
Several British politicians interpreted this as a dig at the UK and France, who have led the idea of a “coalition of the willing” to provide boots on the ground in Ukraine in the event of a ceasefire.
James Cartlidge, the shadow defence secretary, accused Mr Vance of “ignoring the service and sacrifice” of personnel from the two countries that fought in Afghanistan after 9/11.
He said that is the only time NATO’s Article 5 has been invoked, which holds that members of the alliance will come to the defence of an ally under attack.
He added: “Britain and France came to their aid deploying 1,000s of personnel to Afghanistan, including numerous parliamentary colleagues, past & present. It’s deeply disrespectful to ignore such service & sacrifice.”
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Former Tory veterans minister Johnny Mercer called Mr Vance a “clown” who “needs to check his privilege”.
Helen Maguire, the Lib Dem’s defence spokesperson who also served in the army before her career in politics, accused Mr Trump’s deputy of “erasing the hundreds of British troops who gave their lives in Iraq and Afghanistan from history”.
She said: “Six of my own regiment, the Royal Military Police, didn’t return home from Iraq. This is a sinister attempt to deny that reality. Vance has demeaned his office.”
Speaking after Mr Vance clarified his remarks, a Downing Street spokesperson said the US vice president was “talking about other countries” when asked if he should apologise.
They added Prime Minister Sir Keir Starmer “is full of admiration for British troops who fought alongside the US and others in wars and their courage and bravery”.
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Tory leader Kemi Badenoch told GB News “a lot of people are getting carried away”.
“They’re saying loads of things and getting quite animated, let’s keep cool heads,” she said.
“I believe President Trump and JD Vance want peace, they’re looking after their national interest, we need to do so as well.”
It is not the first time Mr Vance has riled the UK, after previously attacking it over free speech and saying the UK is “Islamist under Labour”.
The row comes after the Trump administration paused military aid to Ukraine following an extraordinary showdown between the US President and Ukrainian President Volodymyr Zelenskyy.
The falling out has thrown into jeopardy the prospect of a minerals deal, which would give the US access to Ukraine’s deposits of rare earth minerals.
Mr Trump has suggested this would deter Russia from invading Ukraine again if a peace deal is struck – but Sir Keir said yesterday that it would not be enough on its own.
The prime minister told MPs on Monday that Britain must “lead from the front” on supporting Ukraine and Europe must “do the heavy lifting to support peace on our continent”.
However, he said “to succeed, this effort must also have strong US backing”.
New Hampshire became the first US state to allow its government to invest in crypto currencies including Bitcoin (BTC), after Governor Kelly Ayotte signed a bill passed by the legislature into law.
In a May 6 notice, Ayotte announced on social media that New Hampshire would be permitted to “invest in cryptocurrency and precious metals” through a bill passed in the state Senate and House of Representatives. House Bill 302, introduced in New Hampshire in January, will allow the state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion, eliminating many tokens and memecoins.
“The Live Free or Die state is leading the way in forging the future of commerce and digital assets,” said New Hampshire Republicans in a May 6 X post.
With the signing of the bill into law, New Hampshire becomes the first of several US states considering passing legislation to establish a strategic Bitcoin reserve, including an initiative with the federal government. A similar bill in Arizona passed the state’s House in April but was vetoed by Governor Katie Hobbs on May 2, and Florida’s government withdrew two crypto reserve bills from consideration on May 3.
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The efforts to create crypto reserves in different US states come as US President Donald Trump and Republican lawmakers propose similar policies at the federal level. Trump signed an executive order in March to establish a “Digital Asset Stockpile” and a “Strategic Bitcoin Reserve.”
Senator Cynthia Lummis, who sponsored the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act, proposed that the US government could hold more than 1 million BTC through civil and criminal forfeiture seizures. The bill is currently being considered by members of the US Senate Banking Committee.
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A group of crypto traders reportedly purchased millions of dollars worth of Melania Trump’s memecoins minutes before she announced the launch on social media.
According to a May 6 Financial Times report, the crypto traders earned roughly $100 million from buying $2.6 million worth of MELANIA tokens before the public launch on Jan. 19. Shortly after Trump announced the memecoin launch on social media, the price surged from roughly $2.00 to $12.95 — a 550% increase. The traders reportedly sold their holdings within 12 hours.
“In total, the 24 accounts bought up 16.7mn of the 200mn total $MELANIA tokens scheduled for sale during the launch period,” the Financial Times reported. “[…] the run of sales that started pre-launch continued. About $900,000 worth of tokens bought by an additional 22 accounts in the 42 seconds after the launch.”
The memecoin started trading roughly two days after then-president-elect Donald Trump announced the launch of his own TRUMP coin. Both tokens have come under scrutiny from lawmakers, alleging conflicts of interest and corruption due to the potential for bribery and foreign influence.
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Much of the scrutiny and criticism from US lawmakers over the memecoins seems to be directed at the president rather than the first lady. After Trump announced some of the top TRUMP tokenholders would be offeried the chance to get access to him at a private dinner and tour, one senator called for his impeachment.
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Both the prices of the MELANIA and TRUMP tokens have dropped significantly since shortly after their launch in January, with the First Lady’s memecoin falling to $0.31 at the time of publication. The TRUMP token price briefly surged after the memecoin dinner announcement in April, but had dropped to $10.90 as of May 6.
Two companies connected to the president control roughly 80% of the TRUMP supply, though many of the tokens were locked and will be released over the next three years. Critics have suggested that the project’s insiders could still rug-pull investors.
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21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com’s Cronos token, the asset manager said.
The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement.
Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange.
The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said.
The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said.
“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’ head of financial products development, said in a statement.
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The CRO token has a market capitalization of approximately $2.3 billion and a fully diluted value (FDV) of nearly $8.7 billion, according to data from CoinMarketCap.
Cronos has a total value locked (TVL) of approximately $400 million, according to data from DeFiLlama.
Its DeFi ecosystem includes Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows.
Altcoin ETFs abound
On May 5, asset manager VanEck filed to list an exchange-traded fund (ETF) in the US tied to yet another exchange-affiliated token.
The VanEck BNB ETF is the first proposed ETF in the US holding BNB Chain’s native token, BNB. The chain is affiliated with Binance, the world’s largest centralized exchange.
In the US, 21Shares has proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL).
Asset managers are seeking the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 cryptocurrency ETFs.
The wave of filings has come as a result of US President Donald Trump softening the SEC’s regulatory posture toward crypto after taking office in January.
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