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The government has accepted the recommendation from the UK’s chief medical officers that children aged 12 to 15 should be offered a first dose of the Pfizer/BioNTech coronavirus vaccine and invitations will start being sent out next week.

Making the announcement in the Commons, Vaccines Minister Nadhim Zahawi said: “We will now move with the same sense of urgency we’ve had at every point in our vaccination programme.”

Health Secretary Sajid Javid said: “I have accepted the recommendation from the Chief Medical Officers to expand vaccination to those aged 12 to 15 – protecting young people from catching COVID-19, reducing transmission in schools and keeping pupils in the classroom.

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Jabs for kids: ‘Benefits exceed risks’

“I am very grateful for the expert advice I have received from the Joint Committee on Vaccination and Immunisation and UK Chief Medical Officers.”

It comes after the chief medical officers said offering jabs to 12 to 15-year-olds would be a “useful tool” in reducing disruption to their education.

In their advice to the government, they said they were making the recommendation on “public health grounds” and it was “likely vaccination will help reduce transmission of COVID-19 in schools”.

The move means around three million children will now be eligible for the jab, which is expected to be administered through schools.

More on Covid-19

The consent of parents, guardians and carers will be sought prior to vaccination, but the Health Secretary told Sky News last week that children would get the “final say” over whether or not they get a jab.

Addressing this in his statement to MPs, Mr Zahawi said: “In the rare event that there is a situation a parent does not consent but the child or the teenager wants to have the vaccine, then there is a process by which the school age vaccination clinician will bring initially the parent and the child to see whether they can reach consensus and if not, if the child is deemed to be competent, then the vaccination will take place.”

Analysis by Ashish Joshi, health correspondent

Recognising the potential for sending mixed messages, Professor Chris Whitty explained why there was no conflict.

The JCVI had a narrow remit, only to look at the immediate health impact of vaccination on these children.

But, and this is the key difference, the CMOs looked at the much wider impact of COVID-19 on this age group including disruption to education, mental health, protection from long COVID, the impact of isolation on social skill development and so on.

When looked at in this way, it was decided the vaccination offers much more than a marginal health gain.

This makes sense.

But to have two key decisions that look like they disagree with each other makes public health communication problematic.

Parents are already confused and conflicted.

Prof Whitty says he has no regrets over the messaging saying instead he would regret getting the decision wrong.

Professor Wei Shen Lim from the JCVI told me he did not feel undermined. Of course they are both correct.

Two separate panels looking at the same issue through two separate lenses are likely to arrive at different outcomes.

The explanation stands up to scrutiny.

But successful vaccination programmes rely on high take up. Unfortunately that might have been undermined by the way the advice has been delivered.

The minister told the Commons that vaccines “are our best defence against this virus”.

“Our jabs have already prevented over 112,000 deaths, more than 143,000 hospitalisations and over 24 million infections,” he said.

“They have built a vast wall of defence for the British people.”

He added that there is a “comprehensive” surveillance strategy in place to monitor the safety of the COVID vaccines and continued: “It is important to remember that our teenagers have shown great public spirit at every point in this pandemic. They have stuck to the rules so that lives could be saved and people kept safe.

“They have been some of the most enthusiastic proponents of vaccines. This is at least in part because they have experienced the damage that comes with outbreaks of COVID-19.”

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Decision on vaccinating children ‘more difficult’

Labour’s shadow health secretary Jonathan Ashworth said the party backed the government’s approach, but urged ministers to provide as much information to parents as they can.

He also posed a series of questions to the vaccines minister, including whether parental consent would be needed and whether the jabs would be administered through an existing NHS programme for other vaccines for children.

Mr Zahawi said in response that the NHS was “incredibly efficient and well equipped” in providing inoculations to children already and that an existing programme which visits schools would be used for the COVID jabs.

But Tory MP Dr Caroline Johnson said she was not “comfortable” with vaccinating teenagers to avoid “educational disruption”, while former party leader Sir Iain Duncan Smith warned of the risk of “family disputes” over whether children should take up the offer of a jab.

Conservative MP and former minister Steve Baker urged the government to guarantee that “a child’s ability to receive an education equally with their peers will never be linked to their vaccination status”.

Mr Zahawi said in response: “That will not be used in any way. The whole purpose of this is to accept the clinical advice and protect children.”

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What do teenagers think of COVID vaccine?

The recommendation from the CMOs followed a decision from the Joint Committee on Vaccination and Immunisation not to recommend mass vaccination of 12 to 15-year-olds on health grounds alone.

Explaining the rationale for their decision, the JCVI said the virus poses a very low risk to healthy children and inoculating them would only provide a marginal benefit.

But they did say that other issues, such as education, should be taken into account and considered by the CMOs in making their final decision.

Speaking earlier at a Downing Street news conference, the JCVI’s Professor Wei Shin Lim said there was “no conflict” between the stances of the JCVI and the CMOs, adding that the JCVI had looked at the question from a health perspective.

Mr Zahawi said further guidance would be sought from the JCVI before any decision is made on whether to offer second doses.

Speaking on the eve of Prime Minister Boris Johnson setting out his winter plan to manage COVID in the months to come, the vaccines minister told MPs that the government wanted to deliver an “ambitious” programme of booster jabs.

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Bitcoin treads water at $90K as whales eat the Ethereum dip: Finance Redefined

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Bitcoin treads water at K as whales eat the Ethereum dip: Finance Redefined

Cryptocurrency markets saw another week of consolidation following last week’s long-awaited market recovery.

While Bitcoin (BTC) remained above the key $90,000 psychological level, investor sentiment continued to be dominated by “fear,” with a marginal improvement from 20 to 25 within the week, according to CoinMarketCap’s Fear & Greed index.

In the wider crypto space, the Ether (ETH) treasury trade appears to be unwinding, as the monthly acquisitions by Ethereum digital asset treasuries (DATs) fell 81% in the past three months from August’s peak.

Still, the biggest corporate Ether holder, BitMine Immersion Technologies, continued to amass ETH, while other treasury firms carried on with their fundraising efforts for future acquisitions.

Fear & Greed index, all-time chart. Source: CoinMarketCap

Investors are also awaiting the key interest rate decision during the US Federal Reserve’s upcoming meeting on Wednesday to provide more cues about monetary policy leading into 2026.

Markets are pricing in an 87% chance of a 25 basis point interest rate cut, up from 62% a month ago, according to the CME Group’s FedWatch tool.

Interest rate cut probabilities. Source: CMEgroup.com

Ethereum treasury trade unwinds 80% as handful of whales dominate buys

The Ethereum treasury trade appears to be unwinding as monthly acquisitions continue to decline since the August high, though the largest players continue to scoop up billions of the Ether supply.

Investments from Ethereum DATs fell 81% in the past three months, from 1.97 million Ether in August to 370,000 ETH in November, according to Bitwise, an asset management firm.

“ETH DAT bear continues,” wrote Max Shennon, senior research associate at Bitwise, in a Tuesday X post.

Despite the slowdown, some companies with stronger financial backgrounds continued to accumulate the world’s second-largest cryptocurrency or raise funds for future purchases.

Source: Max Shennon

BitMine Immersion Technologies, the largest corporate Ether holder, accumulated about 679,000 Ether worth $2.13 billion over the past month, completing 62% of its target to accumulate 5% of the ETH supply, according to data from the Strategicethreserve.

BitMine holds an additional $882 million worth of cash according to the data aggregator, which may signal more incoming Ether accumulation.

Top corporate Ether holders. Source: Strategicethreserve.xyz

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Citadel causes uproar by urging SEC to regulate DeFi tokenized stocks

Market maker Citadel Securities has recommended that the US Securities and Exchange Commission tighten regulations on decentralized finance regarding tokenized stocks, causing backlash from crypto users.

Citadel Securities told the SEC in a letter on Tuesday that DeFi developers, smart-contract coders, and self-custody wallet providers should not be given “broad exemptive relief” for offering trading of tokenized US equities.

It argued that DeFi trading platforms likely fall under the definitions of an “exchange” or “broker-dealer” and should be regulated under securities laws if offering tokenized stocks.

“Granting broad exemptive relief to facilitate the trading of a tokenized share via DeFi protocols would create two separate regulatory regimes for the trading of the same security,” it argued. “This outcome would be the exact opposite of the “technology-neutral” approach taken by the Exchange Act.”

Citadel’s letter, made in response to the SEC looking for feedback on how it should approach regulating tokenized stocks, has drawn considerable backlash from the crypto community and organizations advocating for innovation in the blockchain space.

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Arthur Hayes warns Monad could crash 99%, calls it high-risk “VC coin”

Crypto veteran Arthur Hayes has issued a warning over Monad, saying the recently launched layer-1 blockchain could plunge as much as 99% and end up as another failed experiment driven by venture capital hype rather than real adoption.

Speaking on Altcoin Daily, the former BitMEX chief described the project as “another high FDV, low-float VC coin,” arguing that its token structure alone puts retail traders at risk. FDV stands for Fully Diluted Value, which is the market value of a crypto project if all its tokens were already in circulation.

According to Hayes, projects with a large gap between FDV and circulating supply often experience early price spikes, followed by deep selloffs once insider tokens unlock. “It’s going to be another bear chain,” Hayes said, adding that while every new coin gets an initial pump, that does not mean it will develop a lasting use case.

Hayes said most new layer-1 networks ultimately fail, with only a handful likely to retain long-term relevance. He identified Bitcoin, Ether, Solana (SOL) and Zcash (ZEC) as the small group of protocols he expects to survive the next cycle.

Last year, Monad raised $225 million in funding from venture capital firm Paradigm. The layer-1 blockchain went live on Monday, accompanied by an airdrop of its MON token.

Monad’s MON token up 40% since launch. Source: CoinMarketCap

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$25 billion crypto lending market now led by “transparent” players: Galaxy

The crypto lending market has become more transparent than ever, led by the likes of Tether, Nexo and Galaxy, and has just hit an aggregate loan book of nearly $25 billion outstanding in the third quarter.

The size of the crypto lending market has increased by more than 200% since the beginning of 2024, according to Galaxy Research. Its latest quarter puts it at its highest since its peak in Q1 2022.

However, it has yet to return to its peak of $37 billion at that time.

The main difference is the number of new centralized finance lending platforms and much more transparency, said Galaxy’s head of research, Alex Thorn.

Thorn said on Sunday that he was proud of the chart and the transparency of its contributors, adding that it was a “big change from prior market cycles.”

The crypto lending landscape has seen many new platforms in the past three years. Source: Alex Thorn

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Portal to Bitcoin raises $25 million and launches atomic OTC desk

Bitcoin-native interoperability protocol Portal to Bitcoin has raised $25 million in funding amid the launch of what it describes as an atomic over-the-counter (OTC) trading desk.

According to a Thursday announcement shared with Cointelegraph, the company raised $25 million in a round led by digital asset lender JTSA Global. The fundraise follows previous investments by Coinbase Ventures, OKX Ventures, Arrington Capital and others.

Alongside the fresh funding, the company rolled out its Atomic OTC desk, promising “instant, trustless cross-chain settlement of large block trades.” The newly deployed service is reminiscent of crosschain atomic swaps offered by THORChain, Chainflip, and more Bitcoin-focused systems such as Liquality and Boltz.

What sets Portal to Bitcoin apart is its focus on the Bitcoin-anchored crosschain OTC market for institutions and whales, along with its tech stack. “Portal provides the infrastructure to make Bitcoin the settlement layer for global asset markets, without bridges, custodians, or wrapped assets,” said Chandra Duggirala, founder and CEO of Portal.

Decentralization
Portal to Bitcoin team members, from left to right: co-founder and chief technology officer Manoj Duggirala, founder and CEO Chandra Duggirala, and co-founder George Burke. Source: Portal to Bitcoin

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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.

The Canton (CC) token fell 18%, marking the week’s biggest decline in the top 100, followed by the Starknet (STRK) token, down 16% on the weekly chart.

Total value locked in DeFi. Source: DefiLlama

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.