Labour rebels trying to secure divisive Commons vote on Gaza ceasefire ‘by hook or by crook’

Published

1 year ago

November 3, 2023

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Left-wing Labour MPs are looking to secure a vote on a ceasefire “by hook or by crook” in the coming weeks, Sky News has been told.

Sir Keir Starmer‘s party has been split by tensions on the Middle East conflict, with more than a dozen frontbenchers defying the leadership’s stance on the conflict.

But the pressure is set to ratchet up further on the Labour leader from next week, with some in his own party determined to secure a vote which could lead to further divisions.

Israel-Gaza latest: Casualties after IDF attack on ambulance

A figure on the left of the party said: “We are looking to secure debates and votes on this, by hook or by crook. We are looking at all potential routes, no stone will be unturned.”

One option is to use an opposition day debate from the Scottish National Party – which backs a ceasefire – which could generate a non-binding vote. Although, Labour could tell its MPs to abstain or refuse to take part.

The SNP see an emergency debate was the most likely avenue, and they could apply to the Speaker for one as early as next Wednesday.

An SNP source said: “Our constituents will be expecting us to have a say and if the government won’t bring forward a vote we will try and do so as soon as the first two days of the King’s Speech debate have ended.”

Another is to use a tactic deployed by Labour and Conservative rebels during Brexit, by triggering an emergency debate, under rules called Standing Order 24. It would have to be allowed by the Speaker.

Nearly 100 MPs from all parties have signed a motion from Labour MP Richard Burgon, which condemns the massacre of Israelis and taking of hostages in the 7 October attacks but also calls for “an immediate de-escalation and cessation of hostilities”.

More on this story:
Starmer insists there is ‘unity in Labour’
Two Labour council leaders call for Starmer to resign

The MPs pushing for a vote will consult House of Commons experts next week and think it is most likely to take place later in November, as the start of the month will be dominated by the King’s Speech.

Starmer set out in a speech focused on the Middle East this week that he does not support a ceasefire, which he says would mean “Hamas would be emboldened and start preparing for future violence immediately”.

But so far 16 Labour shadow ministers and aides have tweeted their support for a one, including Jess Phillips, Naz Shah and Imran Hussain – who represent the party on home affairs and business. None of them have been disciplined by the party.

Today, answering questions after a speech in County Durham, Starmer rejected the idea of “great division” within Labour, saying the party was united on wanting to alleviate suffering and get more humanitarian aid in.

Some Labour councillors have resigned their posts, and two council leaders, in Burnley and Pendle, today issued a call for Starmer to resign.

A Labour source said the party would respond to a vote “depending on what the proposition is, which party is behind it and what form it takes.” They added that the rebels or other parties may not secure one, and that “the situation on the ground is not fixed”.

The government, the Labour leadership and other Western allies including the US have called for a “humanitarian pause” to allow aid into Gaza but said Israel has a right to defend itself by attacking Hamas.

Read more: Which countries are calling for a ceasefire?

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The Conservative MP for Peterborough, Paul Bristow, was told to resign as a parliamentary aide to a cabinet minister after he called for a ceasefire to “save lives”.

Health minister Maria Caulfield said today: “The trouble I think Sir Keir has is that while he seems to agree with the government, the rest of his party are in complete turmoil on this. At times like this, when it’s such a sensitive issue in the Middle East, you actually do need a governing party that is united.”

Politics

Bitcoin to $1M by 2029 fueled by ETF and gov’t demand — Bitwise exec

Published

2 hours ago

May 1, 2025

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Bitcoin to M by 2029 fueled by ETF and gov’t demand — Bitwise exec

Bitcoin’s expanding institutional adoption may provide the “structural” inflows necessary to surpass gold’s market capitalization and push its price beyond $1 million by 2029, according to Bitwise’s head of European research, André Dragosch.

“Our in-house prediction is $1 million by 2029. So that Bitcoin will match gold’s market cap and total addressable market by 2029,” he told Cointelegraph during the Chain Reaction daily X spaces show on April 30.

Corporations are coming for your bitcoin (feat. André Dragosch, Head of Research at Bitwise) #CHAINREACTION https://t.co/5F3cRWBHzq

— Cointelegraph (@Cointelegraph) April 30, 2025

Gold is currently the world’s largest asset, valued at over $21.7 trillion. In comparison, Bitcoin’s market capitalization sits at $1.9 trillion, making it the seventh-largest asset globally, according to CompaniesMarketCap data.

Bitcoin to $1M by 2029 fueled by ETF and gov’t demand — Bitwise exec — *Top 10 global assets by market capitalization. Source: CompaniesMarketCap*

For the 2025 market cycle, Bitcoin may surpass $200,000 in the “base case” and $500,000 with more governmental adoption, Dragosch said.

“But once you see sovereign bias like the US government stepping in, all this will change to $500,000.”

“So the base case is $200,000, conditional on the US government not stepping in. If they step in, it will move closer toward $500,000,” said Dragosch, referring to the US government’s plan to potentially make direct Bitcoin acquisitions through “budget-neutral” strategies.

The US is looking at “many creative ways” to fund its Bitcoin investments, including from tariff revenue and by reevaluating the US Treasury’s gold certificates, creating a paper surplus to fund the BTC reserve without selling gold, Bo Hines of the Presidential Council of Advisers for Digital Assets said in an interview on April 14.

“Structural” ETF inflows, institutional adoption prolong Bitcoin cycle

The US-based spot Bitcoin exchange-traded funds (ETFs) have surpassed all expectations during their first year of trading, exceeding record trading volumes as BlackRock’s iShares Bitcoin Trust ETF became the fastest-growing ETF in history.

The first year is usually the “slowest” for ETFs, Dragosch said, highlighting the launch of the gold ETF:

“That alone implies that in the second and third year, we will see growing inflows. In terms of the four four-year cycle, implies that, this cycle will be prolonged by these structural inflows.”

The Bitcoin cycle may also be prolonged when US wirehouses start gaining exposure to Bitcoin and ETFs.

“In the US, the major distribution channels go via Wirehouses, which are essentially the big banks like Merrill Lynch or Morgan Stanley. […] Not even half of these wirehouses have opened up their distribution channels to US Bitcoin ETFs,” the analyst said.

Adoption from US wirehouses may bring a “huge amount of capital,” since these control over $10 trillion worth of customer assets, Dragosch added.

Magazine: Altcoin season to hit in Q2? Mantra’s plan to win trust: Hodler’s Digest, April 13 – 19

Politics

21Shares files for US spot Sui ETF after European launch

Published

3 hours ago

May 1, 2025

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21Shares files for US spot Sui ETF after European launch

Major European cryptocurrency investment firm 21Shares has filed for a spot Sui exchange-traded fund (ETF) in the United States, marking another step in its expansion to the US market.

21Shares on April 30 submitted the Form S-1 registration for a spot Sui (SUI) ETF to the US Securities and Exchange Commission (SEC).

Called the 21Shares Sui ETF, the proposed ETF will issue common shares of beneficial interest by seeking to track the performance of SUI held by 21Shares’ US subsidiary.

The US filing comes a year after 21Shares started trading the 21Shares Sui Staking exchange-traded product in Europe in July 2024, with its first listings on Euronext Paris and Euronext Amsterdam.

No ticker or planned exchange yet

The 128-page filing does not specify on which US exchange the new SUI ETF is expected to debut trading. The ETF also doesn’t have a ticker symbol yet.

“There is no certainty that there will be liquidity available on the exchange or that the market price will be in line with the NAV [net asset value] or the principal market NAV at any given time,” it states.

The filing highlighted that the ETF aims to provide exposure to SUI by holding the tokens directly, without utilizing leverage, derivatives or engaging in speculative trading.

Canary Capital was the first to file for Sui ETF

21Shares is not the first company to file for a Sui ETF in the US. Canary Capital, a US-based crypto investment firm, filed a Form S-1 registration for a spot Sui ETF on March 17.

Subsequently, Cboe BZX Exchange asked US regulators for clearance to list Canary’s Sui ETF in early April.

Sui-based ETPs have already been trading in Europe, with some of such products including 21Shares Sui staking ETP and VanEck Sui ETP.

According to the latest CoinShares update, Sui-based ETPs had $400 million in assets under management as of April 25.

Europe, SEC, United States, ETF, SUI — *Sui (SUI) ETP products had $400 million in AUM as of April 25, 2025. Source: CoinShares*

Year-to-date, Sui ETPs have seen $72 million of inflows, with a fresh $20.7 million coming in just last week.

The latest ETF filing by 21Shares is yet another product joining a massive list of crypto ETFs awaiting the SEC’s decision.

According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, there were at least 72 new crypto ETF filings on the SEC’s table as of May 1.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 20 – 26

Politics

Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

Published

6 hours ago

May 1, 2025

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Morgan Stanley eyes crypto rollout for E*Trade platform: Bloomberg

Banking giant Morgan Stanley reportedly plans to list cryptocurrencies on its E*Trade investment brokerage and trading platform.

According to a May 1 Bloomberg report, the firm intends to list crypto assets on E*Trade in 2026. The plan is still in early development, and the bank is said to be exploring partnerships with established crypto firms to power the service. Internal discussions about cryptocurrency support reportedly began in late 2024.

Banking, Banks, Cryptocurrency Exchange, Morgan Stanley — *E*Trade homepage. Source:* *E*Trade*

This would not be Morgan Stanley’s first exposure to digital assets. The bank’s wealthiest clients have had access to crypto exchange-traded funds (ETFs) and futures for some time, with the firm’s advisers allowed to pitch Bitcoin ETFs since August 2024.

Regulatory tailwinds push crypto forward

The news follows previous reports that Morgan Stanley was considering adding cryptocurrency trading to its E*Trade online brokerage platform in early January. The reports at the time cited the expectations of a friendlier crypto regulatory environment.

The move comes amid an increasingly favorable regulatory environment in the United States following the election of President Donald Trump, who campaigned on a pro-crypto platform and is personally involved in several blockchain ventures.

The first 30 days of the Trump administration brought significant changes to the local crypto industry. More recently, US crypto proponents have shown optimism following the swearing-in of pro-crypto Securities and Exchange Commission Chair Paul Atkins.

The SEC had significantly changed its stance even before Atkins took office. In late February, the agency had already paused multiple cryptocurrency enforcement cases with imminent deadlines.

This is a developing story, and further information will be added as it becomes available.

Magazine: ZK-proofs are bringing smart contracts to Bitcoin — BitcoinOS and Starknet