Reform UK’s Andrea Jenkyns says Nigel Farage’s row with Rupert Lowe was ‘clearly a big falling out’ – but insists it will ‘blow over’

Published

17 hours ago

March 14, 2025

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Reform UK’s most senior woman has told Sky News the Rupert Lowe row “doesn’t look great” and she doesn’t “want to see it in the news any more days”.

Dame Andrea Jenkyns, who defected to Reform last year, accepted it was “clearly a big falling out” but suggested these spats do not always cut through to the public.

She insisted she was concentrating on winning as she looks to become the party’s first ever mayor in May.

In an interview with Sky News, Dame Andrea also spoke for the first time about her experience of domestic abuse, denying Reform has a “woman problem” but accepted “we need to start talking more about issues, what women are interested in”.

Having lost her seat as a Conservative in the 2024 election, Dame Andrea briefly quit politics only to return earlier this year as Reform’s newest recruit.

She is now standing as the party’s candidate to become the first Greater Lincolnshire mayor, in a race that psephologists think could be Reform’s best hope of turning itself from a party of protest into one that is governing.

That’s because Reform is on the march in Lincolnshire, which is a key battleground between the Conservatives and Reform in the local and mayoral elections in May.

Richard Tice, Reform’s deputy leader, took the Conservative seat of Boston and Skegness in the last election as Reform came second in a further two of the county’s eight constituencies.

This farming country has long been part of the patchwork of Conservative England and it is in these heartlands that Reform hopes it can land a significant blow to its political rivals in the coming weeks.

“It’s a worry,” admits one Labour insider who doesn’t much relish the prospect of having to deal with a newly minted Reform party mayor should Dame Andrea win in May against Labour candidate Jason Stockwood, the Conservative Rob Waltham and independent Marianne Overton.

There is also the Lincolnshire council race, which Reform is targeting. All 70 seats are up for grabs and the Conservatives, which have a 38-seat majority, are defending 53 seats. The only way is up for Reform here, while the Conservatives, who have held this council for 10 of the past 13 elections, are bracing for a drubbing.

Tories say Jenkyns is from Yorkshire

The Conservatives make the point that they have a “strong local candidate who is born and bred in Lincolnshire, whereas Dame Andrea is from Yorkshire” when I ask them about the race.

“We are fighting hard, we have a proven track record of delivery in charge of local services whereas Reform aren’t tried and tested,” the Conservatives said.

“And if they’re anything like Reform nationally, who don’t turn up on important votes, then they won’t show up for people locally.”

Dame Andrea is still based in Yorkshire where she used to be an MP, as this is where her son attends school. But she rents a place in Lincolnshire and has vowed to move to the county should she win the mayoralty.

She also points out that she grew up in Lincolnshire and was a local councillor before moving to Yorkshire after her shock victory over Ed Balls in the 2015 general election.

‘Fed up’ farmers eyeing Reform

When we meet her on the road in Lincolnshire, she takes us to meet some farmers whose livelihoods are under intense pressure – be it over local flooding and flood defences or changes to inheritance tax and farming subsidies that are affecting their farms.

There is little love for Labour in the gathering of farmers, who in the main seem to be lapsed Conservative voters that are now eyeing Reform, as a number of them tell me how they are fed up with how the Environment Agency and local politicians are running their area.

“We’re fed up with all of them,” said one farmer.

“We just want some action. As farmers we know drainage is so important, we just want to get it sorted.”

They are also alarmed and anxious about the inheritance tax changes introduced by Labour and are pressing for carve-outs for small farms handed down from generation to generation amid fears they will have to sell up to pay the inheritance tax bills.

But the troubles at the top of Reform hadn’t gone unnoticed by this group. Unprompted, one of the farmers raised the row between the suspended Reform MP Rupert Lowe and the party leadership, telling Dame Andrea that while he “really likes Reform” he doesn’t much like what he’s seeing at the moment.

‘Spat looks worse because Reform is small’

The farmer said: “I don’t follow politics avidly. But I just look and say [Rupert Lowe] is full of common sense and I really like him and I don’t know what’s happened, but it looks from outside [he has been] chucked under the bus.

“And I’m like, am I getting second thoughts about Reform? I don’t know what’s gone on, but it concerns me about what’s going on with Reform.”

Dame Andrea tries to downplay it and says the “spat” looks worse because it’s a smaller party.

“To me it’s about the movement, the right policies, to carry on. What is the alternative? This will blow over and Reform will keep getting strong,” she said.

Can Jenkyns and Farage co-exist?

Dame Andrea would clearly like the infighting to stop, but it raises questions for me about how she will fit into this very male-dominated party, in which all four MPs are male, with Dame Andrea the only senior woman beyond the former Conservative minister Ann Widdicombe.

She is, like Nigel Farage, a disrupter – Dame Andrea was one of the first Tories to call for Theresa May and Rishi Sunak to stand down, and a conviction politician who fervently backed Boris Johnson and Brexit.

If she does win this mayoral race she will be a big personality in Reform alongside Farage, which leaves me wondering if they can co-exist in a party already at war.

Jenkyns was in an abusive relationship

Reform does struggle with female voters, with fewer women voting for the party against all age cohorts, young to old. Dame Andrea tells me she doesn’t think the party has a “woman problem”, but she does think it needs to talk about more issues that she thinks women are interested in, citing education, special educational needs and mental health.

When I raise the matter of violence against women and how the party has handled revelations that one of its own MPs was jailed in a youth detention centre as a teenager for assaulting his girlfriend, Dame Andrea reveals to me she has been in an abusive relationship.

“I know how it can break you. I know how you sort of start losing your identity. So I’ve been on that side,” she said.

“And I’ve also helped constituents to fight against this, so it matters, we need to do more in society because whether it’s men or women, one is too much in my view.”

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Out on the campaign trail, even in the Labour territory of Lincoln where Hamish Falconer is the local MP, Dame Andrea gets a warm welcome. She tells me she thinks she can win it: “I might be living in blind hope here. But I’ve got that feeling.”

This corner of England has become a test bed for Reform to see if it can turn from a party of protest into one that has a shot at governing in the form of a regional mayor.

If Reform can succeed in that – what might come next? It would be a remarkable comeback for Dame Andrea and a remarkable victory for Reform too.

Politics

UK authorizes charges against NCA officer for alleged Bitcoin theft

Published

2 hours ago

March 14, 2025

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UK authorizes charges against NCA officer for alleged Bitcoin theft

The agency responsible for conducting criminal prosecutions in England and Wales announced that a National Crime Agency (NCA) officer was due to be charged with the alleged theft of Bitcoin worth roughly $75,000 in 2017.

In a March 14 notice, the Crown Prosecution Service said it had authorized the Merseyside Police to charge NCA officer Paul Chowles with 15 offenses related to the alleged Bitcoin (BTC) theft “during an investigation into online organized crime.” Authorities said Chowles could face one count of theft, 11 charges for concealing, disguising, or converting criminal property and three counts for acquiring, using or possessing criminal property.

The 50 Bitcoin, worth roughly $75,000 before the December 2017 bull run, was valued at more than $4.2 million at the time of publication at a BTC price of $84,541. The NCA officer is expected to appear at the Liverpool Magistrates’ Court on April 25.

In April 2024, amendments to the UK’s Economic Crime and Corporate Transparency Act authorized NCA officers and local police to seize crypto from suspected criminals without arresting them. The Crown Prosecution Service did not mention how Chowles allegedly stole the Bitcoin or whether the funds were connected to illicit activities.

Crypto policies across the pond

The NCA said in December 2024 that it had seized roughly $26 million in cash and crypto and arrested 84 people as part of a global campaign to fight money laundering and organized crime. Some of the crypto addresses targeted by UK authorities at the time “showed regular exposure to Garantex.” The founder of the Russian crypto exchange was arrested in India in March and is expected to be extradited to the US to face criminal charges.

The UK government is expected to move forward on creating a comprehensive regulatory framework for digital assets in 2025 following the Labour government’s election victory. The country remains a significant market for crypto users, with Coinbase securing approval to operate from the financial regulatory body in February.

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Politics

US House kills IRS DeFi broker rule, Solana won’t cut 80% inflation rate: Finance Redefined

Published

4 hours ago

March 14, 2025

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US House kills IRS DeFi broker rule, Solana won’t cut 80% inflation rate: Finance Redefined

In a significant regulatory development for the crypto industry, the United States House of Representatives voted to nullify a bill that threatened the privacy-preserving properties of decentralized finance (DeFi) protocols.

In the wider crypto space, one of the Solana network’s most significant governance proposals was rejected; it sought to implement a mechanism to reduce Solana’s inflation rate by about 80%.

US House follows Senate in passing resolution to kill IRS DeFi broker rule

The US House of Representatives voted to nullify a rule requiring decentralized finance (DeFi) protocols to report to the Internal Revenue Service.

On March 11, the House of Representatives voted 292 for and 132 against a motion to repeal the so-called IRS DeFi broker rule that aimed to expand existing IRS reporting requirements to crypto.

All 132 votes to keep the rule were Democrats. However, 76 Democrats joined with the Republicans to repeal it.

This followed the Senate’s March 4 vote on the motion, which saw it pass 70 to 27.

The rule would have forced DeFi platforms, such as decentralized exchanges, to disclose gross proceeds from crypto sales, including information regarding taxpayers involved in the transactions.

After the vote, Republican Representative Mike Carey, who submitted the repeal motion, said, “The DeFi broker rule invades the privacy of tens of millions of Americans, hinders the development of an important new industry in the United States and would overwhelm the IRS.”

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Solana proposal to cut inflation rate by up to 80% fails

A proposal to dramatically change Solana’s inflation system was rejected by stakeholders but is being hailed as a victory for the network’s governance process.

“Even though our proposal was technically defeated by the vote, this was a major victory for the Solana ecosystem and its governance process,” commented Multicoin Capital co-founder Tushar Jain on March 14.

Around 74% of the staked supply voted on proposal SIMD-228 across 910 validators, but just 43.6% voted in favor of it, with 27.4% voting against it and 3.3% abstaining, according to Dune Analytics. It needed 66.67% approval from participating votes to pass and only received 61.4%.

Jain added that this was the biggest crypto governance vote ever, by the number of participants and the participating market cap, of any ecosystem, chain or network.

“This was a meaningful scaling stress test — a social, rather than technical, stress test — and the network passed despite a wide stratification of diverging opinions and interests.”

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Bitcoin $70,000 retracement part of “macro correction” in bull market — Analysts

Bitcoin’s potential retracement to $70,000 may be an organic part of the current bull market, despite crypto investor fears of an early arrival of a bear market cycle.

Bitcoin (BTC) fell more than 14% during the past week to close at around $80,708 after investors were disappointed with the lack of direct federal Bitcoin investments in President Donald Trump’s March 7 executive order. It outlined a plan to create a Bitcoin reserve using cryptocurrency forfeited in government criminal cases.

Despite the drop in investor sentiment, cryptocurrencies and global markets remain in a “macro correction” as part of the bull market, according to Aurelie Barthere, principal research analyst at the Nansen crypto intelligence platform.

Most cryptocurrencies have broken key support levels, making it hard to estimate the next key price levels, the analyst told Cointelegraph, adding:

“This is a macro correction (US tech will be down by 3% in the future, as discussed), so we have to monitor BTC. Next level will be $71,000 – $72,000, top of the pre-election trading range.”

The analyst added: “We are still in a correction within a bull market: Stocks and crypto have realized and are pricing; a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up.”

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Calls for stricter rules on political memecoins after $4 billion Libra collapse

Industry voices warned that politically endorsed cryptocurrencies must adopt stronger investor protections and liquidity safeguards to prevent another significant market collapse.

Investor sentiment remains shaken after the Libra (LIBRA) token, which was endorsed by Argentine President Javier Milei, suffered a $4 billion market cap wipeout due to insider cash-outs.

According to blockchain analytics firm DWF Labs, at least eight insider wallets withdrew $107 million in liquidity, triggering the massive collapse.

To avoid a similar meltdown, tokens with presidential endorsements will need more robust safety and economic mechanisms, such as liquidity locking or making the tokens in the liquidity pool non-sellable for a predetermined period, DWF Labs wrote in a report shared with Cointelegraph.

The report stated that tokens from high-profile leaders also need launch restrictions to limit participation from crypto-sniping bots and large holders or whales.

“Limiting bot and whale activity is essential in limiting the impact of individuals acting on insider information to corner a large percentage of the token supply,” according to Andrei Grachev, managing partner at DWF Labs.

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Hyperliquid ups margin requirements after $4 million liquidation loss

Hyperliquid, a blockchain network specializing in trading, increased margin requirements for traders after its liquidity pool lost millions of dollars during a massive Ether (ETH) liquidation, the network said.

On March 12, a trader intentionally liquidated a roughly $200 million Ether long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million, unwinding the trade.

Starting March 15, Hyperliquid will require traders to maintain a collateral margin of at least 20% on certain open positions to “reduce the systemic impact of large positions with hypothetical market impact upon closing,” Hyperliquid said in a March 13 X post.

The incident highlights the growing pains confronting Hyperliquid, which has emerged as Web3’s most popular platform for leveraged perpetual trading.

Hyperliquid said the $4 million loss was not from an exploit but rather a predictable consequence of the mechanics of its trading platform under extreme conditions.

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the red.

Of the top 100, the Hedera (HBAR) token fell over 24%, marking the biggest weekly decrease, followed by JasmyCoin (JASMY) down over 21% over the past week.

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Politics

Crypto influencer sentenced to 45 months in prison for wire fraud

Published

4 hours ago

March 14, 2025

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Crypto influencer sentenced to 45 months in prison for wire fraud

Thomas John Sfraga, also known as “TJ Stone,” received 45 months in prison for wire fraud and was ordered to pay more than $1.3 million in forfeiture as part of a scheme targeting crypto investors.

In a March 14 notice, the US Justice Department said Sfraga was sentenced in the US District Court for the Eastern District of New York (EDNY) for wire fraud following a May 2024 guilty plea. Court filings stated that the influencer and podcaster claimed he was the owner of businesses — including Vandelay Contracting, a name based on a running joke from the television series Seinfeld — and the emcee of many crypto events in New York City.

“[…] Sfraga convinced a victim to invest in a fictitious cryptocurrency ‘virtual wallet,’” said the Justice Department. “He promised the victims returns on their investments as high as 60% in three months. In reality, however, Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates.”

Sfraga’s case was one of many involving crypto-related crimes continuing to be pursued in the jurisdiction following the appointment of John Durham as interim US Attorney by President Donald Trump. Braden John Karony, former CEO of SafeMoon, who also faces EDNY criminal charges, requested in February that his criminal trial for securities fraud conspiracy, wire fraud conspiracy and money laundering conspiracy be pushed based on the administration’s approach to crypto enforcement.

The “Seinfeldian” scheme, according to Durham, was not the first time the crypto industry was connected to the popular sitcom. Comedian Larry David, co-creator of the show, starred in a Super Bowl ad for defunct cryptocurrency exchange FTX in 2022. He later said he was “an idiot” for endorsing the company and lost a lot of money after the price of specific tokens dropped.

Since Trump took office on Jan. 20, some high-profile defendants in criminal cases involving cryptocurrency have reportedly been looking into appealing to the US president for a pardon. Among those reportedly seeking pardons were former FTX CEO Sam Bankman-Fried, currently serving a 25-year sentence following a 2023 conviction, and former Binance CEO Changpeng Zhao, who served a four-month sentence in 2024 — though he denied reports of a potential pardon.

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