Connect with us

Published

on

The Cheshire Show is a world away from Westminster – but amid the agriculture machinery displays, the pony club races and pens with the best of British livestock, we have smuggled our unwieldy parliamentary bench to an industry at the mercy of changing weather and politics.

On the seat of power in a sheep pen in a far corner of the show, Ruth Howard, a ruminant nutritionist, laments the rising price of animal food. “Over the last two years in particular we’ve seen massive increases,” she says.

“I would say about two or three years ago our price for a compound feed would be about £200 a tonne. Last winter we saw them rocket to £400.

“Our motto is that we feed the animals that feed the nation, and we need support to be able to do that.

“The subsidies that are out there have helped soften the blow to the housewife in your shopping basket. Without that and without the support behind agriculture, the cost of living crisis will only get worse.”

Cow and sheep nutritionist Ruth Howard and sheep farmer, Richard Gate
Image:
Cow and sheep nutritionist Ruth Howard and sheep farmer Richard Gate

The agricultural budget is a common theme of conversation. Sheep farmer Richard Gate says: “Subsidies are given to us and there’s a misperception that it’s to the farmer and it is not. It is to help the farmers produce cheaper food for the general public.”

Responding to the launch of party manifestos, the National Farmers Union (NFU) has expressed concern that while the Conservative Party has committed to increasing the farming budget by £1bn over the course of the next parliament, the Labour Party is yet to give a clear commitment to a budget.

More on Conservatives

Rachel Hallos, vice president of the NFU, told Sky News: “That does concern us. We need to know what sort of budget is going to be allocated to farming.

“It’s as simple as that. I think the devil is in the detail and there doesn’t seem to be overly amounts of detail.”

Cheshire Farm Show
National Farmers Union vice president Rachel Hallos
Image:
National Farmers Union vice president Rachel Hallos

Labour do say in their manifesto that “food security is national security” and promise to “champion British farming”, with a target for half of all food purchased across the public sector to be sourced locally.

At the Cheshire Show, we meet dairy farmer Ray Brown who has recently spoken to both Prime Minister Rishi Sunak and Labour leader Sir Keir Starmer. He was impressed with their understanding of the issues.

Dairy farmer Ray Brown (centre) with colleagues
Image:
Dairy farmer Ray Brown (centre) with colleagues

“We’re very, very reliant on imported food,” he said. “And we only need to look at the recent events around the world. It’s made us surely think about food security.”

He warns that some environmental schemes linked to government payments to farmers are forcing them to stop using good farming land.

Cheshire Farm Show
Cheshire Farm Show 

pic for Bench Across Britain piece

Mr Brown says: “The main problem is the government thinking through the policies they’re bringing out, making sure that we can firstly feed everybody and bring environmental schemes out that make sense, use areas which we can’t grow food on, rather than letting land go, which is prime land for producing food.”

Andrew Dutton, from Cheshire Farm Machinery, says his sales are down this year due to the wet spring that has dulled crop and produce yields. He says farmers are lacking confidence to invest.

“We need more support for our farmers. We need to back British farming. We need to buy locally, buy British. The farmers need some confidence going forward that they’re going to receive the funding that they need.”

Andrew Dutton, Cheshire Farm Machinery
Image:
Andrew Dutton, Cheshire Farm Machinery

Held in Tatton, the Cheshire Show sits in a safe Conservative constituency once held by chancellor George Osborne. The red rosettes on the prize bulls are unlikely to be worn by winners in this constituency on election night, but there’s uncertainty.

Mr Dutton says: “I’m still on the bench really?”

He taps the green cushions on our House of Commons chair. “Personally, I voted Conservative my whole life. But no one’s offering what I want at the moment.”

Cheshire Farm Show
Follow Sky News on WhatsApp
Follow Sky News on WhatsApp

Keep up with all the latest news from the UK and around the world by following Sky News

Tap here

A passing woman in jodhpurs says “I’m voting Reform, and a lot of my friends are voting Reform”, but she decides not to take a seat to tell us more.

We do, however, manage to speak to two horsemen fresh from jousting, dressed as knights, in the main arena. Both come from rural, Conservative-held seats in the Midlands. Clutching an axe, Sam Conway from Knights of Nottingham says he traditionally votes Conservative but wants “clarity and honesty”.

He adds: “I don’t feel like I’ve had any of that so far. I don’t feel like anyone’s come out with some clear policies. We see a lot of political jousting.”

Sam Conway and Mark Lacey, jousters for the Knights of Nottingham
Image:
Sam Conway and Mark Lacey, jousters for the Knights of Nottingham

Sam’s fellow knight Mark Lacey leans forward on his broadsword and adds: “It’s just time for a change, and let’s see what happens. And I’m happy for it to change.

“I’ve lived in a blue area my whole life, but let’s have a change. Let’s see what somebody else does.”

Read more:
Performers and punters weigh up votes in election circus
Sikh voters in key Labour areas share wish lists
‘Auramancer Sunak’ and Starmer’s punches on TikTok

On our journey across Britain – to Cornwall, Gloucester, Luton, Southall, Kent, Leicester and now Cheshire – there is a lot of indecision. Shy Tories seem extremely shy while Labour voters question whether their vote will bring the changes they want.

The farming community certainly wants more assurances from Starmer, but it also feels like this area, which is not usually an election battleground for Labour, is open to some form of change. And if Labour can capture a seat like Tatton, it would be a killer blow to the heart of their rivals.

Continue Reading

Politics

US crypto rules like ‘floor is lava’ game without lights — Hester Peirce

Published

on

By

<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

<div>US crypto rules like 'floor is lava' game without lights — Hester Peirce</div>

SEC Commissioner and head of the crypto task force, Hester Peirce, says US financial firms are navigating crypto in a way that’s similar to playing the children’s game “the floor is lava,” but in the dark.

“It is time that we find a way to end this game. We need to turn on the lights and build some walkways over the lava pit,” Peirce said at the SEC “Know Your Custodian” roundtable event on April 25.

The lava is crypto, says Peirce

Peirce explained that SEC registrants are forced to approach crypto-related activities like “the floor is lava,” where the aim is to jump from one piece of furniture to the next without touching the ground, except here, touching crypto directly is the lava.

“A D.C. version of this game is our regulatory approach to crypto assets, and crypto asset custody in particular,” she said.

Peirce said that, much like in the game, firms wanting to engage with crypto must avoid directly holding it due to unclear regulatory rules. “To engage in crypto-related activities, SEC-registrants have had to hop from one poorly illuminated regulatory space to the next, all while ensuring that they never touch any crypto asset,” Peirce said.

Cryptocurrencies, SEC, United States
Source: US Securities and Exchange Commission

Peirce said that investment advisers are often unsure which crypto assets qualify as securities, what entities count as qualified custodians, and whether “exercising staking or voting rights” could trigger custody violations.

“The twist in the regulatory version is that it is largely played in the dark: burning legal lava and no lamps to illuminate the way.”

Peirce also said that a broker or ATS that cannot custody or manage crypto assets will struggle to facilitate trading, making it unlikely for a “robust market” to develop.

Echoing a similar sentiment, SEC Commissioner Mark Uyeda said at the event that as more SEC registrants work with crypto assets, it’s essential that they have access to custodial options that meet legal and regulatory requirements.

Uyeda said the agency should consider letting advisers use “state-chartered limited-purpose trust companies” with the authority to hold crypto assets as qualified custodians.

Related: Blockchain needs regulation, scalability to close AI hiring gap

Meanwhile, the recently sworn-in chair of the SEC, Paul Atkins, said that he expected “huge benefits” from blockchain technology through efficiency, risk mitigation, transparency, and cutting costs.

He reiterated that among his goals at the SEC would be to facilitate “clear regulatory rules of the road” for digital assets, hinting that the agency under former chair Gary Gensler had contributed to market and regulatory uncertainty.

“I look forward to engaging with market participants and working with colleagues in President Trump’s administration and Congress to establish a rational fit-for-purpose framework for crypto assets,” said Atkins.

Magazine: Bitcoin $100K hopes on ice, SBF’s mysterious prison move: Hodler’s Digest, April 19 – 25

Continue Reading

Politics

Labour and Reform in battle for Runcorn by-election seat – but disillusionment could be eventual winner

Published

on

By

Labour and Reform in battle for Runcorn by-election seat - but disillusionment could be eventual winner

On the banks of the Mersey, Runcorn and Helsby is a more complicated political picture than the apparent Labour heartland that first presents itself.

Yes, there are industrial and manufacturing areas – an old town that’s fallen victim to out-of-town shopping, and an out-of-town shopping centre that’s fallen victim to Amazon.

But there are also more middle-class new town developments, as well as Tory-facing rural swathes.

Space Café director Marie Moss says a sense of community has faded
Image:
Space Cafe director Marie Moss says a sense of community has faded

One thing this area does mirror with many across the country, though, is a fed-up electorate with little confidence that politics can work for them.

In the Space Cafe in Runcorn Old Town, its director Marie Moss says many in the region remember a time when a sense of community was more acute.

“People were very proud of their town… and that’s why people get upset and emotional as they remember that,” she says.

It’s this feeling of disenfranchisement and nostalgia-tinged yearning for the past that Reform UK is trading off in its targeting of traditional Labour voters here.

More on Liverpool

Party leader Nigel Farage features heavily on leaflets in these parts, alongside spikey messaging around migration, law and order, and Labour’s record in government so far.

Runcorn 2024 result
Image:
Runcorn 2024 result

Taxi driver Mike Holland hears frequent worries about that record from those riding in the back of his cab.

A Labour voter for decades, he says locals were “made up” at last year’s election result but have been “astonished” since then, with benefit changes a common topic of concern.

“Getting a taxi is two things, it’s either a luxury or a necessity… the necessity people are the disabled people… and a lot of the old dears are so stressed and worried about their disability allowance and whether they are going to get it or not get it,” he says.

But will that mean straight switchers to Reform UK?

Taxi driver Mike Holland has voted for Labour for decades, but is looking at the Liberal Democrats and Greens, or may not vote
Image:
Taxi driver Mike Holland has voted for Labour for decades, but is now looking at the Lib Dems and Greens – or may not vote at all

Mike says he agrees with some of what the party is offering but thinks a lot of people are put off by Mr Farage.

He’s now looking at the Liberal Democrats and Greens, both of whom have put up local politicians as candidates.

Or, Mike says, he may just not vote at all.

It’s in places like Runcorn town that some of the political contradictions within Reform UK reveal themselves more clearly.

Many here say they were brought up being told to never vote Tory.

And yet, Reform, chasing their support, has chosen a former Conservative councillor as its candidate.

It’s no surprise Labour has been trialling attack lines in this campaign, painting Mr Farage’s party as “failed Tories”.

As a response to this, look no further than Reform’s recent nod to the left on industrialisation and public ownership.

👉 Click here to listen to Electoral Dysfunction on your podcast app 👈

Read more:
Tough test for Labour after MP quits
MP jailed for late-night brawl
Local elections could re-shape politics

But head 15 minutes south from Runcorn docks, and this by-election campaign changes.

Rural areas like Frodsham and Helsby have, in the past, tended towards the Tories.

The Conservatives, of course, have a candidate in this vote, one who stood in a neighbouring constituency last year.

But Reform is now making a hard play for their supporters in these parts, with a softer message compared to the one being put out in urban areas – an attempt to reassure those anxious about too much political revolution coming to their privet-lined streets.

Labour, meanwhile, is actively trying to mobilise the anti-Farage vote by presenting their candidate – another local councillor – as the only person who can stop Reform.

Nadine Tan is concerned about division and anger in the community
Image:
Makeup artist Nadine Tan is concerned about division and anger in the community

The pitch here is aimed at voters like Frodsham makeup artist Nadine Tan, who are worried about division and anger in the community.

“I think they need to kind of come together and stop trying to divide everyone,” she says.

But like Mike the taxi driver five miles north, disillusionment could be the eventual winner as Nadine says, despite the “thousands of leaflets” through her door, she still thinks “they all say the same thing”.

One factor that doesn’t seem to be swinging too many votes, though, is the insalubrious circumstances in which the area’s former Labour MP left office.

Suspended Labour MP Mike Amesbury walks outside Chester Magistrates Court.
Pic: Reuters
Image:
Labour MP Mike Amesbury was convicted of punching a man in the street. Pic: Reuters

Mike Amesbury stepped down after being convicted of repeatedly punching a constituent in a late-night brawl outside a pub.

But across the patch, many praise their ex-MP’s local efforts, while also saying he was “very silly” to have acted in the way he did.

That may be putting it mildly.

But it’s hard to find much more agreement ahead of Thursday’s vote.

A constituency still hungry for change, but unsure as to who can deliver it.

Full list of candidates, Runcorn and Helsby by-election:

Catherine Anne Blaiklock – English Democrats
Dan Clarke – Liberal Party
Chris Copeman – Green Party
Paul Duffy – Liberal Democrats
Peter Ford – Workers Party
Howling Laud Hope – Monster Raving Loony Party
Sean Houlston – Conservatives
Jason Philip Hughes – Volt UK
Alan McKie – Independent
Graham Harry Moore – English Constitution Party
Paul Andrew Murphy – Social Democratic Party
Sarah Pochin – Reform UK
Karen Shore – Labour
John Stevens – Rejoin EU
Michael Williams – Independent

Continue Reading

Politics

Solana’s Loopscale pauses lending after $5.8M hack

Published

on

By

<div>Solana's Loopscale pauses lending after .8M hack</div>

<div>Solana's Loopscale pauses lending after .8M hack</div>

Solana decentralized finance (DeFi) protocol Loopscale has temporarily halted its lending markets after suffering an approximately $5.8 million exploit. 

On April 26, a hacker siphoned approximately 5.7 million USDC (USDC) and 1200 Solana (SOL) from the lending protocol after taking out a “series of undercollateralized loans”, Loopscale co-founder Mary Gooneratne said in an X post. 

The exploit only impacted Loopscale’s USDC and SOL vaults and the losses represent around 12% of Loopscale’s total value locked (TVL), Gooneratne added. 

Loopscale is “working to resume repayment functionality as soon as possible to mitigate unforeseen liquidations,” its said in an X post. 

“Our team is fully mobilized to investigate, recover funds, and ensure users are protected,” Gooneratne said.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s ‘Genesis’ lending vaults. Source: Loopscale

In the first quarter of 2025, hackers stole more than $1.6 billion worth of crypto from exchanges and on-chain smart contracts, blockchain security firm PeckShield said in an April report. 

More than 90% of those losses are attributable to a $1.5 billion attack on ByBit, a centralized cryptocurrency exchange, by North Korean hacking outfit Lazarus Group.

Related: Crypto hacks top $1.6B in Q1 2025 — PeckShield

Unique DeFi lending model

Launched on April 10 after a six-month closed beta, Loopscale is a DeFi lending protocol designed to enhance capital efficiency by directly matching lenders and borrowers.

It also supports specialized lending markets, such as “structured credit, receivables financing, and undercollateralized lending,” Loopscale said in an April announcement shared with Cointelegraph. 

Loopscale’s order book model distinguishes it from DeFi lending peers such as Aave that aggregate cryptocurrency deposits into liquidity pools.

Solana's Loopscale pauses lending after $5.8M hack
Loopscale’s daily active users. Source: Mary Gooneratne

Loopscale’s main USDC and SOL vaults yield APRs exceeding 5% and 10%, respectively. It also supports lending markets for tokens such as JitoSOL and BONK (BONK) and looping strategies for upwards of 40 different token pairs. 

The DeFi protocol has approximately $40 million in TVL and has attracted upwards of 7,000 lenders, according to researcher OurNetwork.

Magazine: Ripple says SEC lawsuit ‘over,’ Trump at DAS, and more: Hodler’s Digest, March 16 – 22

Continue Reading

Trending