Sir Keir Starmer has been urged to promote fresh talent to the shadow cabinet in a reshuffle that is widely expected to take place on Monday.
The Labour leader has been told that now is the time to be “bold” in shaking up his top team ahead of next year’s general election – but it is unclear at this stage whether Sir Keirintends to make only limited changes or will carry out a more substantial shake-up.
There are two schools of thought regarding what form the reshuffle could take.
The first is that all posts outside of Sir Keir’s five key missions could be up for grabs, or that the reshuffle could be minor and possibly mirror changes in government departments – for example, to cover posts such as secretary of state for science, innovation and technology which is occupied by Michelle Donelan but does not have a Labour counterpart.
However, senior Labour sources who spoke to Sky News said Sir Keir should use the reshuffle as an opportunity to promote new names into the shadow cabinet – which they said would de facto make it a significant re-organisation.
One Labour adviser told Sky News: “It’s time to shake things up and get the talent in where it belongs. We need to show the country how we will transform Britain.”
Another source added: “Keir talks a lot about being ruthless – he should stick to that.
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“This isn’t just the next shadow cabinet, it’s potentially the next government. People shouldn’t just stay because he’s afraid to rock the boat. He’s in his strongest possible position – it’s a waste if he doesn’t act now.”
Among the names of those have been tipped for a possible promotion include Darren Jones, who currently chairs parliament’s business and trade committee, and shadow policing minister Sarah Jones.
Mr Jones has been widely tipped for months to take on the role of shadow science, innovation and technology secretary – a position that is currently vacant and is also said to be coveted by Lucy Powell, who currently holds the culture brief.
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Starmer unveils Labour ‘missions’.
Sources said Ms Jones, the MP for Croydon Central, could take on the brief of Northern Ireland secretary due to her background in policing.
That role could be vacated by the incumbent, Peter Kyle, who sources said would be well-placed to take on the environment, food and rural affairs brief due to the “political capital” that can be made due to the current crisis of sewage in rivers and seas.
Mr Kyle, the MP for Hove, is viewed by one member of the Labour frontbench as ideal for the role.
“It’s not seen as a top job, but he could really land blows on Tories,” said one Labour MP. “Especially in coastal and rural areas where we’d like to win seats.”
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Alison McGovern, the current shadow minister for work and pensions, was described by one Labour source as the “obvious” choice to take on the culture brief given her advocacy for women’s football in the year of the Women’s World Cup.
However, Thangam Debbonaire, the current shadow leader of the House, has also been mentioned for the role given her background as professional cellist and as MP for Bristol West, a constituency known for its creatives.
Other names that could be vulnerable to being moved are Louise Haigh in transport, Jo Stevens in the shadow Wales office and shadow mental health minister Rosena Allin-Khan – who could be replaced by Liz Kendall.
Key players staying put
While the reshuffle could see movement around the margins, shadow cabinet ministers orientated around Sir Keir’s five missions are expected to stay put.
It means that shadow chancellor Rachel Reeves, shadow home secretary Yvette Cooper, shadow health secretary Wes Streeting, shadow education secretary Bridget Phillipson and shadow climate change secretary Ed Miliband are likely to stay in post until the next election.
But there are questions about other heavy hitters, including shadow levelling up secretary Lisa Nandy – who has been rumoured for a demotion or possible move out of the entire shadow cabinet – and Angela Rayner, with whom relations have been strained.
Image: Labour party deputy leader Angela Rayner.
While Ms Rayner cannot be moved from her role as deputy leader given it is an elected position, she occupies an array of other roles including the shadow chancellor of the duchy of Lancaster and shadow secretary of state for the future of work which some of Sir Keir’s aides are reportedly keen to move her from.
There are fears that the future of work brief occupied by Ms Rayner could be watered down or scrapped entirely amid fears that it requires too much input from trade unions.
Her allies have remained tight lipped about any move – but past briefings have suggested that Ms Rayner could be moved to Ms Nandy’s role in a bid to move her away from the levers of the future Cabinet office.
However, some question the logic of moving Ms Rayner to a brief where she could become the “voice of the North” in Westminster and challenge the Treasury on spending decisions.
It could, they suggest, also allow her to build up a rival power base along with other metro mayors, as well as forge close ties with local constituency parties needed for a potential leadership bid.
Image: Politics Hub with Sophy Ridge starts on Monday at 7pm
Sources also pointed out that Sir Keir would not want to see a repeat of the chaotic 2021 reshuffle, in which he sacked Ms Rayner as party chair and national campaign co-ordinator only to appoint her to the roles she occupies currently.
At this stage the one thing that stands out is the desire for Sir Keir to make his biggest power play yet – but whether he will remains uncertain.
Jay Clayton, recently appointed interim US Attorney for the Southern District of New York (SDNY) and former chair of the Securities and Exchange Commission, has begun offering statements in criminal cases involving crypto fraud.
In an April 23 notice, the US Attorney’s Office said Eugene William Austin, also known as Hugh Austin, had been sentenced to 18 years in prison following his conviction on conspiracy to commit wire fraud, conspiracy to commit money laundering, and conspiracy to commit interstate transportation of stolen property. Together with his son, Brandon, sentenced to four years, Austin offered fraudulent crypto investment services, resulting in roughly $12 million in losses to more than 24 people.
“For years, Hugh Austin was the leader of a fraud and money laundering scheme that stole more than $12 million from more than two dozen victims,” said Clayton. “Austin involved his own son in his crimes, working with him to rip off victims and spending investor money on personal expenses, like luxury hotels […] Austin will now be held accountable for the harm he caused to individual investors and others.”
The criminal case involving digital assets marked one of Clayton’s first public statements since becoming the interim US Attorney on April 22. US President Donald Trump nominated Clayton on Jan. 20 when he took office. The district has since seen the resignation of acting US Attorney Danielle Sassoon in response to the Justice Department directing her to halt a case against New York City Mayor Eric Adams.
The nation’s ‘sovereign district’ overseen by a Trump appointee?
Under current law, Clayton can serve as interim US Attorney for the district for 120 days without Senate confirmation. Senate Minority Leader Chuck Schumer blocked a vote on Clayton’s nomination, saying Trump had “no fidelity to the law.”
Clayton will likely oversee SDNY during the sentencing hearing for former Celsius CEO Alex Mashinsky and potentially other criminal cases involving cryptocurrency. The district is home to Wall Street firms and many of the country’s most prominent financial institutions.
The US Securities and Exchange Commission (SEC) crypto task force, headed by Hester Peirce, has continued meeting with digital asset company representatives as the agency explores regulatory changes.
In an April 24 notice, the SEC task force disclosed a meeting with representatives from crypto firm Ondo Finance and the law firm Davis Polk and Wardwell to discuss “issuing and selling wrapped, tokenized versions of publicly traded US securities.” Ondo Finance donated $1 million to Donald Trump’s inauguration fund, and the law firm announced on April 22 that it would represent the US President’s social media company, Truth Social, to launch crypto-linked exchange-traded funds.
According to the meeting request, Ondo Finance planned to discuss registration requirements for tokenized securities, compliance with financial laws, and potentially launching a regulatory sandbox. Cointelegraph reached out to the firm for comment but did not receive a response at the time of publication.
The April 24 meeting was the latest in the SEC crypto task force’s outreach to the industry following the departure of former chair Gary Gensler. Former commissioner and Trump appointee Paul Atkins took over leadership at the agency on April 21 after his swearing-in ceremony, but has yet to take action on his proposed crypto agenda.
Continuing outreach to industry under new SEC chair
On April 25, the crypto task force will host a roundtable event to discuss custody, including representatives from Kraken, Anchorage Digital Bank, WisdomTree, and others. Following the approval of crypto exchange-traded funds in 2024, many financial institutions have seen demand for digital asset custody in the US grow significantly.
It’s unclear what the SEC’s intentions may be regarding pursuing crypto enforcement cases under Atkins. The commission has stated it will continue cases involving fraudulent activity, but dropped a complaint against Hex founder Richard Heart on April 21.
The agency has already announced it will stop investigations or lawsuits against many firms, including Ripple, Coinbase, and Kraken. All three exchanges donated or had executives who supported Trump’s 2024 campaign or inauguration fund.
Opinion by: Igor Zemtsov, chief technology officer at TBCC
Crypto security is a ticking time bomb. Updatable firmware might just be the match that lights the fuse.
Hardware wallets have become the holy grail of self-custody, the ultimate safeguard against hackers, scammers and even government overreach. There’s an inconvenient truth, however, that most people ignore: Firmware updates aren’t just security patches.
They’re potential backdoors, waiting for someone — whether a hacker, a rogue developer or a shady third party — to kick them wide open.
Every time a hardware wallet manufacturer pushes an update, users are forced to make a choice. Hit that update button and hope for the best, or refuse to update and risk using outdated software with unknown vulnerabilities. Either way, it’s a gamble.
In crypto, a bad gamble can mean waking up to an empty wallet.
Firmware updates aren’t always your friend
Updating firmware sounds like common sense. More security! Fewer bugs! Better user experience!
Here’s the thing: Every update is also an opportunity not just for the wallet provider but for anyone with the power, or motivation, to tamper with the process.
Hackers dream of firmware vulnerabilities. A rushed or poorly audited update can introduce tiny, almost imperceptible flaws — ones that sit in the background, waiting for the right moment to drain funds. And the best part? Users will never know what hit them.
Then there’s the more unsettling possibility: deliberate backdoors.
Tech companies have been forced to include government-mandated surveillance tools before. What makes anyone think hardware wallet makers are exempt? If a regulatory agency — or worse, a criminal organization — wants access to private keys, firmware updates are the perfect attack vector. One hidden function. One disguised line of code.
That’s all it takes. Still think firmware updates are harmless?
Firmware vulnerabilities are already being exploited
This isn’t some far-fetched, doomsday scenario. It has already happened.
Ledger, one of the biggest names in crypto security, had a major security crisis in 2018 when security researcher Saleem Rashid exposed a vulnerability that allowed attackers to replace Ledger Nano S firmware and hijack private keys. Nearly 1 million devices were at risk before a fix was rolled out. The scary part? There was no way for users to know if their devices had already been compromised.
In 2023, OneKey suffered a similar nightmare. White hat hackers demonstrated that its firmware could be cracked in mere seconds. No crypto was lost — this time. But what if real attackers had found the flaw first?
Then came the “Dark Skippy” exploit, taking firmware-based attacks to an entirely new level. With just two signed transactions, hackers could extract a user’s entire seed phrase — without setting off a single alarm. If firmware updates can be manipulated this easily, how can anyone be sure their assets are safe?
The hidden price of updatable firmware
To be fair, not all firmware updates are security disasters. Ledger uses a proprietary operating system and secure element chips for added protection now. Trezor takes an open-source approach, allowing the community to scrutinize its firmware. Coldcard and BitBox02 give users manual control over updates, reducing — but not eliminating — risk.
Here’s the real question: Can users ever be 100% sure that an update won’t introduce a fatal flaw?
Some wallets have decided to eliminate the risk altogether. Tangem ships with fixed, non-updatable firmware, meaning that its code can never be altered once the device leaves the factory. No updates. No patches.
Of course, this approach has its trade-offs. If a vulnerability is discovered, there’s no way to fix it. But in security, predictability matters.
Real crypto security means taking back control
The crypto market was worth $2.79 trillion as of March 2025. With that much money on the table, cybercriminals, rogue insiders and overreaching governments are always looking for weak points. Hardware wallet makers should be laser-focused on security.
Choosing a hardware wallet shouldn’t feel like gambling with private keys. It shouldn’t involve blind trust in a corporation’s ability to push updates responsibly. Users deserve more than vague reassurances. They deserve security models that put control where it belongs — with them.
Security isn’t about convenience. It’s about control. Any system that requires trusting unknown developers, opaque update processes or firmware that can be changed at will? That’s not control. That’s a liability.
The only real way to keep a hardware wallet safe? Remove the guesswork. Strip away the blind trust. Always research the developers’ backgrounds, check their track record for security incidents, and see how they’ve handled past vulnerabilities. Stick to verifiable facts — security should never be based on assumptions.
Opinion by: Igor Zemtsov, chief technology officer at TBCC.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.