School buildings in England made with certain type of concrete forced to close over safety fears

Published

2 years ago

August 31, 2023

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School buildings in England made with a certain type of concrete that is prone to collapse will be immediately closed over safety fears, the government has announced.

Around 104 schools or “settings” will be disrupted on top of 50 that have already been affected this year.

The Department for Education (DfE) said the “vast majority of schools and colleges will be unaffected by this change” – but Labour criticised the move as “staggering display of Tory incompetence”.

The type of concrete forcing the closures is Reinforced Autoclaved Aerated Concrete, known as RAAC.

It is the same type of concrete that has been found in some hospitals that have been deemed to be unsafe, prompting Health Secretary Steve Barclay to fast-track them into the government’s hospitals-building programme.

Education Secretary Gillian Keegan said: “Nothing is more important than making sure children and staff are safe in schools and colleges, which is why we are acting on new evidence about RAAC now, ahead of the start of term.

“We must take a cautious approach because that is the right thing to do for both pupils and staff.

“The plan we have set out will minimise the impact on pupil learning and provide schools with the right funding and support they need to put mitigations in place to deal with RAAC.”

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Secretary of state must ‘get a grip on her department’

Labour’s shadow education secretary Bridget Phillipson said the government was “failing” children by needing to close schools just before the new term started.

“This is an absolutely staggering display of Tory incompetence as they start a fresh term by failing our children again,” she said.

“Dozens of England’s schools are at risk of collapse with just days before children crowd their corridors. Ministers have been content to let this chaos continue for far too long.

“It’s long past time the secretary of state got a grip on her department.”

Paul Whiteman, general secretary of school leaders’ union NAHT, also said the “news is shocking, sadly it is not hugely surprising”.

“What we are seeing here are the very real consequences of a decade of swingeing cuts to spending on school buildings,” he said.

“The government is right to put the safety of pupils and staff first – if the safety of buildings cannot be guaranteed, there is no choice but to close them so urgent building work can take place.

What is Reinforced Autoclaved Aerated Concrete?

Reinforced Autoclaved Aerated Concrete – handily shortened to RAAC – is essentially a lightweight form of concrete.

It was used to build roofs, schools, colleges and other buildings from the 1950s until the mid-1990s, according to GOV.UK.

In comparison to traditional concrete, RAAC is weaker. It is made in factories using fine aggregate, chemicals to create gas bubbles and heat.

Both the material properties and structural behaviour differs significantly from traditional reinforced concrete.

In 2019, the Standing Committee on Structural Safety highlighted the significant risk of failure of RAAC planks.

Three years later in 2022, the Office of Government Property sent a safety briefing notice to all property leaders, saying that “RAAC is now life-expired and liable to collapse”.

Chris Goodier, professor of construction engineering and materials at Loughborough University said: “It is RAAC from the 1950s, 60s and 70s that is of main concern, especially if it has not been adequately maintained.

“RAAC examples have been found with bearings (supports) which aren’t big enough, and RAAC with the steel reinforcement in the wrong place, both of which can have structural implications.”

“But there is no escaping the fact that the timing of this couldn’t be worse, with children due to return from the summer holidays next week.”

The DfE said the majority of the school sites would remain open for face-to-face learning and only specific parts of buildings closed where RAAC is used.

It said a minority will need to either “fully or partially relocate to alternative accommodation” while mitigations are put in place.

Some hospitals deemed ‘unsafe’ because of RAAC

The department said the government has been aware of RAAC in public sector buildings since 1994 but the issue came to light in 2018, when a roof collapsed at a Kent school.

That year the DfE published guidance for schools stating the need to have “adequate contingencies” in the event of evacuations caused by concerns over the use of RAAC.

In June this year, the National Audit Office (NAO) said a school collapse in England that causes death or injury was “very likely” – but that the government did not have sufficient information to manage “critical” risks to the safety of pupils and staff.

Around 24,000 school buildings – more than a third of the total number in England – are beyond their estimated design lifespan – with school leaders branding the scale of building safety issues “shocking”.

Questions were also raised about the state of UK hospitals after Mr Barclay said that five new sites would be added to the government’s programme to build 40 new hospitals because the presence of RAAC made them unsafe to operate “beyond 2030”.

Five new sites – Airedale General in Keighley, Queen Elizabeth Hospital in King’s Lynn, Hinchingbrooke near Huntingdon, Leighton Hospital in Cheshire and Frimley Park in Surrey – were added to the programme as a priority.

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

Published

9 hours ago

December 5, 2025

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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.

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.