Conservative MP and former cabinet minister James Brokenshire dies aged 53
Conservative MP and former cabinet minister James Brokenshire has died at the age of 53, his family has said.
The MP for Old Bexley and Sidcup announced in August that his lung cancer had “progressed” and that he would be beginning a new line of treatment.
Mr Brokenshire stepped down as security minister in July this year after admitting his cancer recovery was taking “longer than expected”.
He had his right lung removed as part of his treatment in February this year and had said stepping down from his Home Office ministerial role would allow him to focus on his health.
James Brokenshire was first diagnosed with lung cancer in 2018
In a statement, Mr Brokenshire’s family said: “It is with deep sadness that we announce the death of James Brokenshire MP at the age of 53.
“James died peacefully at Darent Valley Hospital yesterday evening with family members by his bedside. He had been in hospital since Sunday after his condition rapidly deteriorated.
“James was not only a brilliant government minister as both Security and Immigration minister at the Home Office and secretary of state at the Northern Ireland Office and Ministry for Housing, Communities & Local Government, but a dedicated constituency MP, first for Hornchurch from 2005 to 2010, and then for Old Bexley & Sidcup for the past 11 years.
“But most importantly, he was a loving father to his three children, a devoted husband to Cathy and a faithful friend to so many.
“We would like to thank all the NHS staff, particularly those at Guy’s & St Thomas’ in London, who cared for James with such warmth, diligence and professionalism over the past three-and-a-half years.
“We would also ask that our privacy as a family is respected at this time.”
Mr Brokenshire was first elected to Parliament in 2005 and also served as housing secretary under former PM Theresa May.
The father of three was first diagnosed with lung cancer in 2018 after he coughed up a spot of blood during an event at Hillsborough Castle as Northern Ireland Secretary.
He subsequently stepped down from his Cabinet role to undergo treatment.
After getting the all clear, he was appointed by Boris Johnson to the Home Office in February 2020.
However, the MP stepped back from his government role in January 2021 after discovering his lung cancer had returned.
A growing demand for US dollar-tied crypto stablecoins could help push down the interest rate, says US Federal Reserve Governor Stephen Miran.
The Donald Trump-appointed Miran told the BCVC summit in New York on Friday that the dollar-pegged crypto tokens could be “putting downward pressure” on the neutral rate, or r-star, that doesn’t stimulate or impede the economy.
If the neutral rate drops, then the central bank would also react by dropping its interest rate, he said.
The total current market cap of all stablecoins sits at $310.7 million according to CoinGecko data, and Miran suggested that Fed research found the market could grow to up to $3 trillion in value in the next five years.
“My thesis is that stablecoins are already increasing demand for US Treasury bills and other dollar-denominated liquid assets by purchasers outside the United States and that this demand will continue growing,” Miran said.
“Stablecoins may become a multitrillion-dollar elephant in the room for central bankers.”
Organizations, including the International Monetary Fund, have warned that stablecoins pose a threat to traditional financial assets and services, as they could potentially compete for customers. US banking groups have also urged Congress to tighten oversight of stablecoins with yield, arguing they could attract would-be bank users.
Related: How TradFi banks are advancing new stablecoin models
Regulation to pave the way
During his speech, Miran praised the GENIUS Act for setting out clear guidelines and consumer protections, as he indicated that the regulatory framework will play a key role in spurring broader adoption of stablecoins.
“While I tend to view new regulations skeptically, I’m greatly encouraged by the GENIUS Act. This regulatory apparatus for stablecoins establishes a level of legitimacy and accountability congruent with holding traditional dollar assets,” he said, adding:
“For the purposes of monetary policy, the most important aspect of the GENIUS Act is that it requires U.S.-domiciled issuers to maintain reserves backed on at least a one-to-one basis in safe and liquid US dollar–denominated assets.”
Magazine: Bitcoin’s ‘speed bump’ to $56K? Ripple rejects IPO plans: Hodler’s Digest, Nov. 2 – 8
The crypto market could soon see some much-needed relief after the US Senate reached an agreement on a three-part budget deal to end the government shutdown, Politico reports.
Pending legislation to fund the US government has more than enough support to pass the 60-vote threshold, Politico reported on Sunday, citing two people familiar with the matter.
It was Republican Senate Majority Leader John Thune’s 15th attempt to win Democratic support for a House-approved bill, putting the record 40-day government shutdown within reach of being lifted.
An official vote is still needed to finalize the agreement.
Ongoing uncertainty over when the US government would reopen has been a key factor holding back Bitcoin (BTC) and the broader crypto market from mounting a rebound.
Bitcoin initially rallied to a new high of $126,080 six days into the government shutdown on Oct. 6, but has since fallen over 17% to $104,370, CoinGecko data shows.
Bitcoin’s fall over the past month saw it drop by double-digit percentage points on Oct. 10 after US President Donald Trump’s announcement of 100% tariffs on China sent shockwaves throughout the markets.
Bitcoin rallied 266% after last government shutdown lifted
The last US government shutdown occurred between late December 2018 and late January the following year in Trump’s first term.
After it ended on Jan. 25, 2019, Bitcoin rose over 265% from $3,550 to $13,000 over the next five months.
Prediction markets back shutdown to end this week
Bettors on prediction market Polymarket are backing that the government shutdown will be lifted on Thursday, with the market showing a 54% chance it will happen between Tuesday and Friday.
Related: Robert Kiyosaki says he’s buying, targets $250K Bitcoin and $27K gold
Those odds were just 27% a day ago.
Odds on competitor platform Kalshi are similar, estimating the government shutdown will end on Friday, 44 days into the shutdown.
It comes as Trump announced on Sunday that most Americans will receive a $2,000 dividend from tariff revenue.
Approximately 85% of adults will be eligible, excluding high-income earners, he said.
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