One-word Ofsted ratings for schools to be scrapped immediately

Published

7 months ago

September 2, 2024

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One-word Ofsted judgements for state schools are being scrapped with immediate effect in a move that has been hailed as a “landmark moment for children”.

Previously, the education watchdog awarded one of four marks to schools it inspects: outstanding, good, requires improvement and inadequate.

From this academic year, four grades will be awarded across the existing sub-categories: quality of education, behaviour and attitudes, personal development and leadership and management, the Department for Education (DfE) has announced.

School report cards will be introduced from September 2025, which will provide parents with a “comprehensive assessment of how schools are performing and ensure that inspections are more effective in driving improvement”, it added.

The change follows engagement with the education sector and family of headteacher Ruth Perry, who took her own life after an Ofsted report downgraded her Caversham Primary School in Reading from “outstanding” to “inadequate” over safeguarding concerns.

Last year, a coroner’s inquest found the inspection process had contributed to her death.

The DfE said “reductive” single phrase grades “fail to provide a fair and accurate assessment of overall school performance” and the change will help “break down barriers to opportunity”.

Education Secretary Bridget Phillipson told Sky News’ Breakfast with Kay Burley programme: “We are today making that change because I believe that parents need more information about what goes on within our schools and the system that we’ve got at the moment just isn’t working.

“It’s too high stakes, and it doesn’t have a sharp enough focus on how we drive up standards in our schools. And that is incredibly important because I want all of our children to get a great education and a great start in life.”

The change has been a central mission of the new Labour government, which has vowed to raise standards in state education and generate additional funding through a tax on private school fees.

As part of the announcement today, the government said it will prioritise improvement plans for schools identified as struggling, rather than relying on changing management.

From early 2025, regional improvement teams will be introduced to work with underperforming schools to address areas of weakness.

In cases of the most serious concern, where schools would have been rated inadequate, the government will continue to intervene.

This could include issuing an academy order, which forces maintained schools to become an academy and which may in some scenarios mean transferring to new management, the DfE said.

Ms Phillipson earlier said: “The need for Ofsted reform to drive high and rising standards for all our children in every school is overwhelmingly clear.

“The removal of headline grades is a generational reform and a landmark moment for children, parents, and teachers.”

She added that single headline grades are “low information for parents and high stakes for schools”.

“Parents deserve a much clearer, much broader picture of how schools are performing – that’s what our report cards will provide.

“This government will make inspection a more powerful, more transparent tool for driving school improvement. We promised change, and now we are delivering.”

Reforms ‘could go further’

The announcement comes as pupils return to the classroom this week.

The removal of single headline grades will apply to state schools due to be inspected this academic year, with other settings like independent schools and colleges expected to follow.

The plans have been welcomed by teaching unions, who have long called for reform.

Paul Whiteman, general secretary of the National Association of Headteachers, said: “We have been clear that simplistic one-word judgments are harmful and we are pleased the government has taken swift action to remove them.”

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However, NASUWT general secretary Dr Patrick Roach said while the new government has “made the right decision”, it could go further and “end the fallacy that academy conversion is the only route to securing the improvements our schools need”.

“Whilst today’s announcements are an important step in the right direction, it remains the case that in the absence of root and branch reform to fix the foundations of the broken accountability system, teachers and school leaders will continue to work in a system that remains flawed,” he said.

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Politics

Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

Published

4 hours ago

April 4, 2025

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Trump tariffs squeeze already struggling Bitcoin miners — Braiins exec

The new trade tariffs announced by US President Donald Trump may place added pressure on the Bitcoin mining ecosystem both domestically and globally, according to one industry executive.

While the US is home to Bitcoin (BTC) mining manufacturing firms such as Auradine, it’s still “not possible to make the whole supply chain, including materials, US-based,” Kristian Csepcsar, chief marketing officer at BTC mining tech provider Braiins, told Cointelegraph.

On April 2, Trump announced sweeping tariffs, imposing a 10% tariff on all countries that export to the US and introducing “reciprocal” levies targeting America’s key trading partners.

Community members have debated the potential effects of the tariffs on Bitcoin, with some saying their impact has been overstated, while others see them as a significant threat.

Tariffs compound existing mining challenges

Csepcsar said the mining industry is already experiencing tough times, pointing to key indicators like the BTC hashprice.

Hashprice — a measure of a miner’s daily revenue per unit of hash power spent to mine BTC blocks — has been on the decline since 2022 and dropped to all-time lows of $50 for the first time in 2024.

According to data from Bitbo, the BTC hashprice was still hovering around all-time low levels of $53 on March 30.

“Hashprice is the key metric miners follow to understand their bottom line. It is how many dollars one terahash makes a day. A key profitability metric, and it is at all-time lows, ever,” Csepcsar said.

He added that mining equipment tariffs were already increasing under the Biden administration in 2024, and cited comments from Summer Meng, general manager at Chinese crypto mining supplier Bitmars.

“But they keep getting stricter under Trump,” Csepcsar added, referring to companies such as the China-based Bitmain — the world’s largest ASIC manufacturer — which is subject to the new tariffs.

Trump’s latest measures include a 34% additional tariff on top of an existing 20% levy for Chinese mining imports. In response, China reportedly imposed its own retaliatory tariffs on April 4.

BTC mining firms to “lose in the short term”

Csepcsar also noted that cutting-edge chips for crypto mining are currently massively produced in countries like Taiwan and South Korea, which were hit by new 32% and 25% tariffs, respectively.

“It will take a decade for the US to catch up with cutting-edge chip manufacturing. So again, companies, including American ones, lose in the short term,” he said.

Csepcsar also observed that some countries in the Commonwealth of Independent States region, including Russia and Kazakhstan, have been beefing up mining efforts and could potentially overtake the US in hashrate dominance.

“If we continue to see trade war, these regions with low tariffs and more favorable mining conditions can see a major boom,” Csepcsar warned.

As the newly announced tariffs potentially hurt Bitcoin mining both globally and in the US, it may become more difficult for Trump to keep his promise of making the US the global mining leader.

Trump’s stance on crypto has shifted multiple times over the years. As his administration embraces a more pro-crypto agenda, it remains to be seen how the latest economic policies will impact his long-term strategy for digital assets.

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Politics

Malta regulator fines OKX crypto exchange $1.2M for past AML breaches

Published

4 hours ago

April 4, 2025

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Malta regulator fines OKX crypto exchange .2M for past AML breaches

Cryptocurrency exchange OKX is under renewed regulatory scrutiny in Europe after Maltese authorities issued a major fine for violations of Anti-Money Laundering (AML) laws.

Malta’s Financial Intelligence Analysis Unit (FIAU) fined Okcoin Europe — OKX’s Europe-based subsidiary — 1.1 million euros ($1.2 million) after detecting multiple AML failures on the platform in the past, the authority announced on April 3.

While admitting that OKX has significantly improved its AML policies in the past 18 months, the authority “could not ignore” its past compliance failures from 2023, “some of which were deemed to be serious and systematic,” the FIAU notice said.

OKX was among the first crypto exchanges to receive a license under Europe’s new Markets in Crypto-Assets (MiCA) regulation via its Malta hub in January 2025.

The news of the $1.2 million penalty in Malta came after Bloomberg in March reported that European Union regulators were probing OKX for laundering $100 million in funds from the Bybit hack.

Bybit CEO Ben Zhou previously claimed that OKX’s Web3 proxy allowed hackers to launder about $100 million, or 40,233 Ether (ETH), from the $1.5 billion hack that occurred in February.

This is a developing story, and further information will be added as it becomes available.

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Politics

US court fines UAE crypto firm CLS Global $428K for wash trading

Published

5 hours ago

April 4, 2025

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US court fines UAE crypto firm CLS Global 8K for wash trading

Authorities in the US state of Massachusetts continue targeting unlawful cryptocurrency market practices, with a local court fining crypto financial services firm CLS Global.

A federal court in Boston on April 2 sentenced CLS Global on criminal charges related to fraudulent manipulation of crypto trading volume, according to an announcement from the Massachusetts US Attorney’s Office.

In addition to a $428,059 fine, the court prohibited CLS Global from offering services in the US for a probation period of three years.

CLS Global, a crypto market maker registered in the United Arab Emirates, in January pleaded guilty to one count of conspiracy to commit market manipulation and one count of wire fraud.

CLS agreed to manipulate the FBI’s “trap token” NexFundAI

The charges against CLS Global followed an undercover law enforcement operation involving NexFundAI, a token created by the FBI as part of a sting operation in May 2024.

CLS Global was among at least three firms that took the FBI’s bait and agreed to provide “market maker services” for NexFundAI, including a fraudulent scheme to attract investors to purchase the token.

In October 2024, the Securities and Exchange Commission announced fraud charges against CLS and its employee, Andrey Zhorzhes. The US securities regulator also filed complaints against two other NexFundAI manipulators, Hong Kong-linked ZM Quant Investment and Russia-linked Gotbit Consulting.

CLS Global’s profile

According to CLS Global CEO Filipp Veselov, the company was founded in 2017 to fill in a “huge gap in the market for high-quality market-making solutions and trading consulting.”

Prior to CLS, Veselov worked at the Russian cryptocurrency exchange platform Latoken, which is advertised as a “global digital asset exchange” and has about 370,000 followers on X.

The CLS team also includes chief revenue officer Pavel Singaevskii, who previously served as sales manager at Stex, a crypto platform that reportedly ceased operations without warning in 2023.

US court fines UAE crypto firm CLS Global $428K for wash trading — *Source:* *CLS Global*

According to CLS Global’s X page, the platform continues operating and has more than 110,000 followers at the time of publication.

How much wash trading is in crypto?

Wash trading is an illegal practice involving artificially inflating trading volume by repeatedly buying and selling the same asset, generating a misleading perception of demand.

According to a January 2025 report by the US blockchain analytics firm Chainalysis, the crypto market has at least $2.6 billion in estimated wash traded volumes, or just about 2% of total daily crypto trading volumes, as reported by CoinGecko.

Some studies indicate that wash trading makes up a bigger share of the crypto market.

In 2022, the US National Bureau of Economic Research reported that illegal wash trading may account for as much as 70% of average trading volumes on unregulated exchanges.

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