Bench Across Britain: Labour-safe seat in Sheffield has mixed feelings for Keir Starmer

Published

9 months ago

June 24, 2024

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With betting an unexpected theme of this election, we’ve taken our parliamentary bench to the Sheffield dog track.

Bookies are lined up beside the arena and the people of Sheffield have come for a perfectly legal flutter on which greyhound can run fastest, while chasing a mechanical hare that they will never catch.

Sheffield Brightside and Hillsborough is one of the most working-class constituencies in the UK – the seventh most deprived in England and Wales.

At the Owlerton Stadium a lot of the punters said they weren’t going to vote, one man in his 80s proudly said he’d never voted, but those who said they are going to the ballot on 4 July, say they want change.

Callum Fradgley, greyhound trainer, said: “I would like to see Labour win it personally, but that’s just a personal choice. I’d like a government that’s going to be more for the working class.”

Neil Kelly, a teacher on a day out with his family, said: “All you need to do is go into a school to see that the spending may be going up but it’s not going up in line with everything else. I work in a school in Sheffield for autistic kids and the facilities we have at some of the sites are frankly Victorian.”

Referring to Labour’s policy to remove the VAT exemption on private school fees, Mr Kelly adds: “I can only see that putting VAT on private schools is going to have a positive impact on public schools, if that spending goes towards public schools.”

Howard Wood, greyhound transporter, told us: “I will vote Labour. I have voted Liberal in the past but then they did a coalition with the Tories, so I’ll never vote for them again. Keir Starmer comes across as a cold person, but he’s a shrewd man and he will be a good leader.”

Sheffield Brightside and Hillsborough is a safe Labour seat.

It was David Blunkett’s in the Blair/Brown years when it was simply Sheffield Brightside, and Blunkett kept it when the Hillsborough area was added and David Cameron formed his coalition in 2010.

Here, they voted for Ed Miliband in 2015, they voted for Jeremy Corbyn in 2017 and 2019. It’s a safe bet they will vote for Starmer in 2024 – but even so there are mix feelings about the current leader of the Labour Party.

Anne Ellis, tote operator and retired midwife, told us: “I’ve always voted Labour, always, but for the first time in my life I’m considering not doing that, because I think they’re far too right-wing for me. And I think it’s time to maybe look at an alternative, maybe the Lib Dems, I’m not sure.”

“I would have had Jeremy Corbyn back,” at this point she laughs, “but not everybody would”.

Darren Driver, greyhound racing commentator, said: “I think I’m like a lot of people, I think the election and the campaign at the moment is just boiling my head because it seems to be constant point-scoring.

“Conservatives saying what Labour aren’t going to do, Labour saying what the Conservatives aren’t going to do, Liberal Democrats saying what both of them aren’t going to do. Stop point-scoring and tell us what you are going to do.”

Joe Wood, greyhound owner and retired welding engineer, said: “I’m very, very undecided ‘cos I can’t stand Labour leader Starmer.

“I know he’s a wild card, but I keep thinking of Reform – just to put the cat among the pigeons. He’s forthright and he don’t waffle like most of them do. Over the years I’ve traditionally been Labour, but they don’t excite me.”

Starmer may not excite everyone at this dog track but he has driven his party to a position where it would be a huge shock if they don’t cross the line in front in this election.

It has been an exhausting journey back to political relevance, but, as it stands, it seems this constituency will get the government they vote for, for the first time in nearly two decades.

Politics

EU could fine Elon Musk’s X $1B over illicit content, disinformation

Published

4 hours ago

April 4, 2025

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EU could fine Elon Musk’s X B over illicit content, disinformation

European Union regulators are reportedly mulling a $1 billion fine against Elon Musk’s X, taking into account revenue from his other ventures, including Tesla and SpaceX, according to The New York Times.

EU regulators allege that X has violated the Digital Services Act and will use a section of the act to calculate a fine based on revenue that includes other companies Musk controls, according to an April 3 report by the newspaper, which cited four people with knowledge of the plan.

Under the Digital Services Act, which came into law in October 2022 to police social media companies and “prevent illegal and harmful activities online,” companies can be fined up to 6% of global revenue for violations.

A spokesman for the European Commission, the bloc’s executive branch, declined to comment on this case to The New York Times but did say it would “continue to enforce our laws fairly and without discrimination toward all companies operating in the EU.”

In a statement, X’s Global Government Affairs team said that if the reports about the EU’s plans are accurate, it “represents an unprecedented act of political censorship and an attack on free speech.”

“X has gone above and beyond to comply with the EU’s Digital Services Act, and we will use every option at our disposal to defend our business, keep our users safe, and protect freedom of speech in Europe,” X’s global government affairs team said.

European Union, Elon Musk — *Source:* *Global Government Affairs*

Along with the fine, the EU regulators could reportedly demand product changes at X, with the full scope of any penalties to be announced in the coming months.

Still, a settlement could be reached if the social media platform agrees to changes that satisfy regulators, according to the Times.

One of the officials who spoke to the Times also said that X is facing a second investigation alleging the platform’s approach to policing user-generated content has made it a hub of illegal hate speech and disinformation, which could result in more penalties.

X EU investigation ongoing since 2023

The EU investigation began in 2023. A preliminary ruling in July 2024 found X had violated the Digital Services Act by refusing to provide data to outside researchers, provide adequate transparency about advertisers, or verify the authenticity of users who have a verified account.

X responded to the ruling with hundreds of points of dispute, and Musk said at the time he was offered a deal, alleging that EU regulators told him if he secretly suppressed certain content, X would escape fines.

Thierry Breton, the former EU commissioner for internal market, said in a July 12 X post in 2024 that there was no secret deal and that X’s team had asked for the “Commission to explain the process for settlement and to clarify our concerns,” and its response was in line with “established regulatory procedures.”

Musk replied he was looking “forward to a very public battle in court so that the people of Europe can know the truth.”

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

Politics

Coinbase Institutional files for XRP futures trading with CFTC

Published

4 hours ago

April 4, 2025

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Coinbase Institutional files for XRP futures trading with CFTC

US crypto exchange Coinbase has filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token.

“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures — bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets,” stated Coinbase Institutional on April 3.

The firm added that it anticipates the contract going live on April 21.

According to the certification filing, the XRP (XRP) futures contract will be a monthly cash-settled and margined contract trading under the symbol XRL.

The contract tracks XRP’s price and is settled in US dollars. Each contract represents 10,000 XRP, currently worth about $20,000 at $2 per token.

Contracts can be traded for the current month and two months ahead, and trading will be paused as a safety measure if spot XRP prices move more than 10% in an hour.

“The exchange has spoken with FCMs (Futures Commission Merchants) and market participants who support the decision to launch a XRP contract,” the firm stated.

Coinbase is not the first to launch XRP futures in the United States. In March, Chicago-based crypto exchange Bitnomial announced the launch of the “first-ever CFTC-regulated XRP futures in the US.”

XRP futures trading is available on many of the world’s leading centralized crypto exchanges, such as Binance, OKX, Bybit and BitMEX.

Funding rates remain negative

In late March, Cointelegraph reported that XRP derivatives’ funding rates had flipped negative as investor sentiment turned bearish.

Funding rates are periodic payments between traders in perpetual futures markets that help keep the futures price aligned with the spot price. Positive funding rates mean that long traders (buyers) pay short traders, while negative funding rates mean short traders (sellers) pay long traders.

When funding rates go negative, it means short traders are willing to pay a premium to maintain their positions, indicating strong conviction from bearish derivatives traders.

XRP funding rates remained negative on major derivatives exchanges as of April 4, according to CoinGlass.

Magazine: XRP win leaves Ripple a ‘bad actor’ with no crypto legal precedent set

Politics

Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain tech

Published

8 hours ago

April 4, 2025

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Binance co-founder Changpeng Zhao to advise Kyrgyzstan on blockchain tech

Former Binance CEO Changpeng “CZ” Zhao will begin advising the Kyrgyz Republic on blockchain and crypto-related regulation and tech after signing a memorandum of understanding with the country’s foreign investment agency.

“I officially and unofficially advise a few governments on their crypto regulatory frameworks and blockchain solutions for gov efficiency, expanding blockchain to more than trading,” the crypto entrepreneur said in an April 3 X post, adding that he finds this work “extremely meaningful.”

His comments came in response to an earlier X post from Kyrgyzstan President Sadyr Zhaparov announcing that Kyrgyzstan’s National Investment Agency (NIA) had signed a memorandum with CZ to provide technical expertise and consulting services for the Central Asian country.

The NIA is responsible for promoting foreign investments and assisting international companies in identifying business opportunities within the country.

“This cooperation marks an important step towards strengthening technological infrastructure, implementing innovative solutions, and preparing highly qualified specialists in blockchain technologies, virtual asset management, and cybersecurity,” Zhaparov said.

The Kyrgyzstan president added: “such initiatives are crucial for the sustainable growth of the economy and the security of virtual assets, ultimately generating new opportunities for businesses and society as a whole.”

Kyrgyzstan, which officially changed its name from the Republic of Kyrgyzstan to the Kyrgyz Republic in 1993, is a mountainous, land-locked country.

It is considered well-suited for crypto mining operations due to its abundant renewable energy resources, much of which is underutilized.

Over 30% of Kyrgyzstan’s total energy supply comes from hydroelectric power plants, but only 10% of the country’s potential hydropower has been developed, according to a report by the International Energy Agency.

CZ has met with several other state officials in Asia

Malaysia also recently tapped CZ for guidance on crypto-related matters, with Prime Minister Anwar Ibrahim meeting him personally in January.

CZ has also met with officials in the UAE and Bitcoin-stacking country Bhutan — however, it isn’t clear what those meetings entailed.

CZ’s latest pursuits come a little over six months after he was released from a four-month prison sentence in the US for violating several anti-money laundering laws.

Since being released, CZ has made investments in blockchain tech, artificial intelligence and biotechnology companies.

CZ also recently donated 1,000 BNB (BNB) — worth almost $600,000 — to support earthquake relief efforts in Thailand and Myanmar after the natural disaster in late April.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again