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Labour’s post-election honeymoon looks to be over as it faces pressure this week over winter fuel payments, releasing prisoners early, and the state of the NHS.

Two months after winning a historic majority, Sir Keir Starmer and his ministers have a busy week as they face pressure not just from other parties, but their own MPs.

A vote on winter fuel payments, the prime minister speaking at the TUC conference, prisoners being released early, the publication of a report into the NHS and Sir Keir’s trip to the US are all on the cards this week.

Monday will see Chancellor Rachel Reeves addressing Labour MPs at a Parliamentary Labour Party meeting, where she is expected to face concerns about removing the winter fuel payment from 10 million pensioners.

MPs will vote on Tuesday on whether to limit the winter fuel payment to those on pension credit, after the government announced its intention at the end of July.

Labour MPs will be told they must vote with the government, however several, particularly on the left of the party, have voiced their opposition to the cut.

It is understood they may abstain instead of voting against the government, after Sir Keir set a clear precedent by suspending seven MPs from Labour after they rebelled over the decision to keep the two-child benefit cap.

Sir Keir would not say if he would again suspend MPs for voting against the government, telling the BBC on Sunday: “That will be a matter for the chief whip.”

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‘Not remotely happy’ about cutting winter fuel

The prime minister will also address the Trades Union Congress (TUC) conference on Tuesday, where he is set to be questioned about the winter fuel payment cut and workers’ rights.

Sharon Graham, head of the Unite union, told Sky News on Sunday that they want the government to “think again” and called for a wealth tax instead.

She said: “We are in crisis. The Tories left a mess. No one’s denying that. Labour is right about that, but the choices they make to clear it up are really important.

“If we said the top 50 families in Britain are worth £500 billion, why aren’t they being looked at?

“Why are you looking at pensioners who really don’t have any sort of type of money? That’s the wrong choice to make.”

Read more:
Starmer ‘determined to make tough decisions’

Sign ups for pension credit double

Rachel Reeves leaves Downing Street following a cabinet meeting. 
Pic: PA
Image:
Rachel Reeves will try to allay concerns from Labour MPs about the winter fuel payment cut. Pic: PA

In a packed day for the government, Tuesday is also when the first tranche of prisoners will be released early under the Labour government as it tries to alleviate overpopulated prisons.

The Ministry of Justice admitted this week some serious offenders will be released early if they are serving a sentence for a lesser crime, having completed a sentence for a serious crime.

Reports on Saturday also claimed those serving time for common assault for being violent towards a partner would not be flagged as domestic abusers, so could be released early.

Sir Keir blamed the Conservative government for not building enough prisons, saying he was “forced into this”.

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Government ‘picking the pockets of pensioners’

Thursday will see the publication of a report into the state of the NHS by Lord Darzi, an eminent cancer surgeon and former Labour health minister.

The report has already had some sections released in summary, with children’s health and the progression of heart and circulatory diseases heavily criticised.

Sir Keir said the report showed the NHS was “broken” as he again hit out at the Conservatives’ “unforgivable” reforms.

To end the week, the prime minister will head to Washington DC for his second meeting with President Joe Biden since becoming prime minister.

On Sunday, Sir Keir denied the US was angry at the UK for suspending some arms sale licences to Israel and said they had spoken before and after the decision.

He said discussions with Mr Biden will focus on the next few months in Ukraine and the Middle East.

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XRP ETF debut outshines all 2025 launches with $250M inflows, record volume

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XRP ETF debut outshines all 2025 launches with 0M inflows, record volume

The debut of the Canary Capital XRP exchange-traded fund (ETF) is signaling renewed demand for altcoins, after the fund posted the strongest first-day performance of the more than 900 ETFs launched in 2025.

Canary Capital’s XRP (XRP) ETF closed its first day with $58 million in trading volume, marking the most successful ETF debut of 2025 among both crypto and traditional ETFs, said Bloomberg ETF analyst Eric Balchunas in a Thursday X post

The new fund garnered over $250 million in inflows during its first trading day, surpassing the recent inflows of all other crypto ETFs. 

Part of the reason behind the successful launch was the ETF’s in-kind creation model, according to ETF analyst Nate Geraci.

“A few people asking how it’s possible to have ‘only’ $59mil trading volume, but nearly $250mil inflows… The answer? In-kind creations, which don’t show up in trading volume,” wrote Geraci in a Thursday X post.

Source: Nate Geraci

The in-kind redemption model enables the creation and redemption of ETF shares through the underlying asset, as opposed to cash-only transaction models. In this case, Canary Capital’s ETF shares can be exchanged for XRP tokens.

The US Securities and Exchange Commission (SEC) approved in-kind creation and redemption for cryptocurrency ETFs on July 29, Cointelegraph reported at the time.

SEC, Ethereum ETF, Bitcoin ETF, ETF
SEC press release permitting in-kind creations and redemptions for crypto ETPs. Source: SEC

Smart money traders rotate into XRP longs after ETF debut

The launch of the ETF inspired a bullish rotation among the industry’s most successful traders, as tracked by returns and labeled as “smart money” traders on the crypto intelligence platform Nansen.

Related: Circle enters world’s largest financial market with onchain FX engine

Smart money traders have added $44 million worth of net long XRP positions over the past 24 hours, signaling more upside expectations for the token.

Smart money traders top perpetual futures positions on Hyperliquid. Source: Nansen

The cohort was net long on the XRP token, with a cumulative $49 million, but remained net short on the Solana (SOL) token, with $55 million worth of cumulative short positions on the decentralized exchange Hyperliquid.

Related: Metaplanet’s Bitcoin gains fall 39% as October crash pressures corporate treasuries

“XRP is holding near $2.30, showing relative stability but still feeling the effects of declining liquidity and cautious investor sentiment,” Ryan Lee, chief analyst at Bitget exchange, told Cointelegraph.

“For now, the setup looks like a healthy reset, not the end of the cycle, with both SOL and XRP well-positioned to lead the next wave once confidence snaps back.”

Spot Bitcoin ETFs saw $866 million worth of negative outflows on Thursday, their second-worst day on record, after the $1.14 billion daily outflows on Feb. 25, 2025, according to Farside Investors.

Magazine: Father-son team lists Africa’s XRP Healthcare on Canadian stock exchange