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Education Minister Robert Halfon has resigned from government, confirming he will be the 63rd Conservative MP to stand down at the next election.

The MP for Harlow, who has been in parliament since 2010, said “political life, while fulfilling, has its ups and downs”, and he felt it was “time for me to step down”.

He will be replaced in the Department for Education by Luke Hall, the MP for Thornbury and Yate near Bristol.

Politics live: Two ministers join growing Tory exodus

Quoting the wizard Gandalf from Lord of the Rings in his resignation letter to the prime minister, and having been a Tory candidate for almost 25 years, Mr Halfon said: “My time is over: it is no longer my task to set things to rights, nor to help folk to do so.

“And as for you, my dear friends, you will need no help… among the great you are, and I have no longer any fear at all for any of you.”

Rishi Sunak responded by saying he was “very sorry to hear” of his decision, but added: “I respect your reasons for doing so.”

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The announcement from Mr Halfon – who has also served as deputy chairman of the Conservative Party and chair of the education select committee – came on the same day Armed Forces minister James Heappey officially left his post in government.

He will be replaced by the former junior Foreign Office minister and MP for Aldershot in Hampshire, Leo Docherty, who previously served as Minister for Defence People and Veterans under Boris Johnson.

Earlier this month, a source close to the MP for the Wells constituency in Somerset said he had decided to leave parliament because of personal reasons, and his ministerial resignation was expected to coincide with Easter recess.

But the timing was significant as there had been growing disquiet among Conservative MPs and military insiders at a failure by Chancellor Jeremy Hunt to announce new funding for the armed forces in his spring budget.

However, the source said said while “of course he thinks there should be more money”, it was not why Mr Heappey was resigning.

Confirming his departure on X, Mr Heappy said he “loved every minute” of his job, but added: “The work isn’t done.

“Ukraine needs our support now as much as ever. Perhaps even more so. Theirs is a fight for the future of Euro-Atlantic security and so we must continue to lead the world in the breadth [and] bravery of our support.”

In a letter to the now former minister, Mr Sunak thanked him for his “outstanding service and contribution to our party, parliament and country”.

As part of the mini-reshuffle, former education minister under Liz Truss, Jonathan Gullis, has been made a deputy chairman of the Tory party, along with MP for Guildford Angela Richardson.

Nus Ghani has been made minister for Europe, leaving her roles at the Department for Business and Trade and the Cabinet Office, being replaced by Havant MP Alan Mak.

And Kevin Hollinrake, who has overseen the Post Office during recent turbulence, has been promoted to minister of state for business.

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Meanwhile, Labour has promoted a number of its by-election winning MPs into frontbench positions.

Selby and Ainsty victor Keir Mather will join the shadow whips office, Gen Kitchen will go to the shadow Home Office, Tamworth MP Sarah Edwards will become part of the environment team and Kingswood’s Damien Egan will join the education team.

Batley and Spen MP Kim Leadbeater will also move roles from the whips to join the shadow health team.

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Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY

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Upbit operator Dunamu posts 5M in profit in Q3, up over 300% YoY

Upbit operator Dunamu reported a surge in profitability for the third quarter of the year, posting 239 billion won ($165 million) in net income.

The figure marks an increase of more than 300% compared to the same period last year, which stood at $40 million, local news outlet Chosun Biz reported, citing regulatory filings with the Financial Supervisory Service.

The filing reportedly showed strong momentum across all key metrics. Consolidated revenue climbed to $266 million, up 35% from the previous quarter, while operating profit rose 54% to $162 million. Net income also jumped 145% quarter-over-quarter from $67 million.

The company attributed its improved performance to rising trading activity as global digital asset markets rebounded through 2024 and 2025.

Related: South Korea’s bank-first stablecoin approach lacks logic, says Kaia chair

Dunamu credits US crypto bills for boost

Dunamu said investor confidence received a boost following regulatory developments in the United States, including the passage of the Genius Act, the Clarity Act and the Anti-CBDC Bill. These measures, the company said, contributed to renewed institutional participation and steadier market conditions.

Dunamu has faced heightened reporting requirements since 2022, when it was added to the list of corporations subject to external audit due to having more than 500 shareholders.

Notably, several major crypto firms experienced a revenue increase last quarter. Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter revenue from the previous year.

Related: South Korea ramps up crypto seizures, will target cold wallets

Naver Financial to acquire Dunamu

As Cointelegraph reported, Naver Financial, the fintech arm of South Korea’s largest internet company, is preparing to acquire Dunamu. Naver reportedly plans to bring Dunamu in as a subsidiary through a share swap, with board approvals expected soon.