PM had a simple option over stance on taking the knee – but carelessly stumbled into a row
It couldn’t have gone less to plan. On Sunday the prime minister was hoping to enjoy some reflected glory of England’s success.
Boris Johnson was looking forward to having drinks with the European champions in Downing Street. But rather than football coming home, it’s questions about him and his party over racism that have arrived on his doorstep.
Worse, his well-documented lukewarm response to the England team’s taking of the knee has been magnified by the racist abuse of black players that followed Sunday’s final.
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PM and Starmer clash over racism
Unflattering comparisons have been made between the leadership of the England football team and that of the country.
England players who knelt before games to protest against racism were booed by some England fans. At the time both the prime minister and home secretary refused to condemn the booing and Priti Patel dismissed taking the knee as “gesture politics”.
England player Tyrone Mings accused her of “stoking the fire” and Tory MPs such as Johnny Mercer and Steve Baker have warned their party they are on the wrong side of social change.
Albie Amankona, a co-founder of Conservatives Against Racism, For Equality, wrote to all Conservative MPs urging more understanding about what it means to take the knee.
He told me: “It’s regrettable that the booing was not condemned from the beginning. It would have been excellent if more of our leaders had taken more of a stand in the way that we saw Gareth Southgate take a stand… And I’d like to see more leadership like Gareth’s, coming from all sides of politics.”
The Tory party has the most ethnically diverse cabinet in British history, and there’s no doubt that many of them including Priti Patel, have experienced racism – but ever since the Black Lives Matter movement erupted after the murder of George Floyd in America many in the party struggled with it.
England’s Jack Grealish and Kalvin Phillips take a knee before the international friendly match at Riverside Stadium, Middlesbrough on Sunday June 6, 2021
Conservatives were opposed to some of the movement’s more left-wing messages such as defunding the police or taking down statues, such as the one of imperialist Cecil Rhodes at Oriel College in Oxford.
While people of all walks of life might take the knee for a host of reasons, what got lost is that fundamentally it is a symbol of anti-racism. As no politician in Westminster is pro-racism – there’s no argument over whether it’s right or not to boo the England team for trying to face it down.
It would have been the simplest thing to state that no one should boo the English team for sending out an anti-racist message. But that’s not what Boris Johnson nor Priti Patel chose to do.
That alongside an MP refusing to watch the matches because of the pre-match ritual, and another messaging colleagues that Marcus Rashford should have spent more time focusing on football rather than campaigning to feed poor children, all added to the series of missteps.
There’s an argument that the Tories, even now, know what they are doing – sending subliminal messages to their supporters that “gesture politics” and political correctness has gone too far, and they are fighting the war against woke.
But even “woke” is becoming a Westminster bubble issue. The red wall conservative-minded swing voters who put Johnson in power are more liberal than many think. And, with the England team taking the knee it’s helped dispel fears that it is all part of a socialist plot.
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Starmer questions PM’s stance on racism
As one man in a workman’s pub in Manchester put it. “Either taking the knee works or it doesn’t work – but either way it doesn’t do anyone any harm.”
During PMQs today the prime minister was ridiculed by the leader of the opposition as a man who wears his football top over his shirt and tie.
And attacked him with the line “Boris Johnson’s Conservatives would rather condemn Marcus Rashford for feeding hungry children than those who boo England players for taking the knee.”
Johnson said he was taking action to force social media platforms to get hate off their sites. He also said that the party had made it “absolutely clear that no-one should boo the England team.” This statement would have been absolutely clearer still if he’d added “for taking the knee.” But he didn’t.
It was bad enough when the government had to U-turn over Rashford’s free school meal campaign – even more careless to stumble into an argument that appears to pit them against the entire England football team over racism.
Taiwanese lawmaker Ko Ju-Chun has called on the government to consider adding Bitcoin to its national reserves, suggesting it could serve as a hedge against global economic uncertainty.
Ko, a legislator at-large in Taiwan’s legislative body, the Legislative Yuan, took to X on Friday to report that he had advocated Bitcoin (BTC) investment by the Taiwanese government at the National Conference on May 9.
In his remarks, Ko cited Bitcoin’s potential to become a hedge amid global economic risks and urged Taiwan to recognize the cryptocurrency alongside gold and foreign exchange reserves to boost its financial resilience.
Ko’s announcement came shortly after the legislator held talks with Samson Mow, who advocates for Bitcoin adoption by states like El Salvador at his BTC tech firm Jan3.
Taiwan is an export-oriented economy
Ko highlighted that Taiwan is an export-driven economy that has experienced significant fluctuations in its national currency, the New Taiwan dollar, amid global inflation and intensifying geopolitical risks.
“We currently have a gold reserve of 423 metric tons, and our foreign exchange reserves amount to $577 billion, including investments in US Treasury bonds,” the lawmaker stated.
In a scenario of more intense currency volatility or potential regional conflicts, Taiwan may “very likely be unable to ensure the security and liquidity,” Ko continued, adding that Bitcoin could be a great addition to Taiwan’s reserves for several reasons.
“Bitcoin has been operating for over 15 years. It has a fixed total supply, is decentralized, and is resistant to censorship. Many countries are focusing on its hedging attributes. At the same time, in intense situations, it may not face the risk of embargo,” he said.
Bitcoin is not the only solution
Referring to many global initiatives considering Bitcoin adoption as a reserve asset, Ko stressed that he’s not advocating for Bitcoin as the “only solution” to rising economic challenges.
Instead, the legislator suggested adding a “small proportion of Bitcoin” into the diversified assets as tools for sovereign asset allocation and risk hedging, and backup capacity of Taiwan’s financial system.
Related: Trump tricked into pushing XRP for crypto reserve: Report
He previously suggested that Taiwan could allocate a maximum of 5% of its $50 billion reserve to Bitcoin in an X post on May 6.
“When exchange rate risk and regional uncertainty increase, it is time to introduce new tools to construct a more flexible financial strategy framework,” Ko said, adding:
“As former Dean Chen Chong said, Bitcoin is the gun of the digital era. It may also be the gold of the digital era, the silver of the digital era. Or it could be gunpowder. A wise nation will not let weapons be in others’ hands.”
The news comes as Taiwan is emerging as a crypto-friendly jurisdiction, with the Financial Supervisory Commission pushing institutional trials of crypto custody services in late 2024.
Mainland China continues to maintain its hostile stance on cryptocurrency after imposing a ban on multiple crypto activities, including mining, in 2021.
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German law enforcement seized 34 million euros ($38 million) in cryptocurrency from eXch, a cryptocurrency platform allegedly used to launder funds stolen after Bybit’s record-breaking $1.4 billion hack.
The seizure, announced on May 9 by Germany’s Federal Criminal Police Office (BKA) and Frankfurt’s main prosecutor’s office, involved multiple crypto assets, including Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Dash (DASH). The move marks the third-largest crypto confiscation in the BKA’s history.
The authorities also seized eXch’s German server infrastructure with over eight terabytes of data and shut down the platform, the announcement added.
eXch exchanged crypto without AML
In the statement, the BKA described eXch as a “swapping” service that allowed users to exchange various crypto assets without implementing Anti-Money Laundering (AML) measures.
The platform had operated since 2014 and reportedly facilitated about $1.9 billion in crypto transfers, some of which were believed to be of “criminal origin,” including assets laundered during the Bybit hack.
“Among other things, a portion of the $1.5 billion stolen from the Bybit crypto exchange, which was hacked on Feb. 21, 2025, is said to have been exchanged via eXch,” the authorities wrote.
Multisig, FixedFloat among laundering cases
According to a post by crypto sleuth ZachXBT, eXch was also involved in laundering millions of funds from other crypto thefts and exploits, including Multisig, FixedFloat and the $243 million Genesis creditor theft.
Those were in addition to “countless phishing drainer services over the past few years with refusal to block addresses and freeze orders,” ZachXBT said.
ZachXBT was among the first security analysts to report on eXch’s links to laundering $35 million of crypto assets stolen from Bybit soon after the hack was confirmed.
Related: Hacken CEO sees ‘no shift’ in crypto security as April hacks hit $357M
“Lazarus Group transferred 5K ETH from the Bybit Hack to a new address and began laundering funds via eXch (a centralized mixer) and bridging funds to Bitcoin via Chainflip,” ZachXBT wrote in a Telegram post on Feb. 22.
eXch announced termination of services by May 1
After initially denying involvement in laundering funds from the Bybit hack, eXch eventually announced it would cease operations by May 1 in a Bitcoin Talk post published in mid-April.
“Even though we have been able to operate despite some failed attempts to shut down our infrastructure […], we don’t see any point in operating in a hostile environment where we are the target of SIGINT [Signals Intelligence] simply because some people misinterpret our goals,” it wrote.
Addressing the seizure, senior public prosecutor Benjamin Krause stressed the importance of action against “quick and anonymous opportunities for money laundering for any amount.”
“Crypto swapping is an essential component of the underground economy, used to conceal incriminated funds from illegal activities such as hacking or trading in stolen payment card data, thus making them available to perpetrators,” he said.
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