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Free breakfast clubs will launch at 750 schools across England next week, but teachers have warned government funding will fall short of the cost.

From Tuesday, thousands of parents can access 30 minutes of free morning childcare as part of a trial beginning at the start of the new term and running to July, ahead of an expected national rollout.

Ministers expect the scheme to save parents of primary-aged children £450 per year in childcare costs.

School leaders, however, are warning the pilot may lead to budget shortfalls.

“The initial feedback we are hearing from many school leaders participating in the pilot is that the funding just isn’t sufficient,” said Paul Whiteman, general secretary of NAHT, the headteachers’ union.

“At a time when school budgets are already stretched, most can ill-afford to subsidise this shortfall.”

Mr Whiteman added: “It’s absolutely crucial that this is addressed before the scheme is rolled out nationally.

“We have been encouraged to receive assurance from the Department for Education that funding will be looked at carefully when this trial is being assessed.”

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The trial is backed by £7m of government funding and more than £30m is promised for breakfast clubs in 2025-26.

The government has previously insisted there will be enough funding to deliver the programme.

The 750 “early adopter” schools are spread across the country and include mainstream schools and alternative provision schools, which educate children with specific needs.

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March: Chancellor denies free school meals cuts

Academies, free schools and local authority schools are all taking part.

Education Secretary Bridget Phillipson said free breakfast clubs were “at the heart” of the Labour government’s “Plan for Change, making working parents’ lives easier and more affordable, while breaking down barriers to opportunity for every child”.

To see which schools are part of the trial in your area, you can visit the Department for Education’s website here.

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OKX reports trading increase after expansion into US, EU

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OKX reports trading increase after expansion into US, EU

Crypto exchange OKX said volume in its licensed and regulated markets increased 53-fold in 2025, driven by its expansion into the United States and the European Economic Area.

Citing internal data, the exchange said daily active wallets doubled over the past year, with an average of about 190,000 new wallets created each day, while decentralized exchange volume on its platform rose 262% globally and centralized trading increased 16% over the same period.

The company attributed its market growth to an operating model focused on licensed access to regulated markets. OKX expanded across the European Economic Area in January after receiving a license under the EU’s Markets in Crypto-Assets framework, or MiCA.

In the United States, the exchange noted that its April market entry coincided with several positive regulatory developments, including the passage of the GENIUS Act and steps by the Office of the Comptroller of the Currency to charter crypto-native trust banks.

Data from CoinMarketCap place OKX fourth globally among cryptocurrency exchanges, using rankings that weigh factors such as platform traffic, liquidity, reported trading volume and confidence in volume authenticity.

In December, OKX was among several cryptocurrency exchanges blocked in Belarus after the Ministry of Information restricted access to their global websites, citing violations related to “inappropriate advertising” under the country’s Law on Mass Media.

Coinbase, Kraken, MiCA, OKX, Bybit, Genius Act
Top crypto spot exchanges. Source: CoinMarketCap

Related: OKX adds decentralized trading for US users as DEX volumes hit record high

Top exchanges secure licensing in Europe

The MiCA legislation created a single licensing regime for crypto service providers across the bloc and became fully applicable to exchanges in December 2024. Since then, several major platforms have moved to secure approvals that allow them to passport services across the European Economic Area.

In 2025, Bybit received authorization from Austria’s Financial Market Authority and established Vienna as its European headquarters, while Coinbase obtained a MiCA license a month later from Luxembourg and designated the country as its regional base.

Kraken followed with approval from the Central Bank of Ireland, building on earlier MiFID and electronic money licenses, and Gemini secured authorization from Malta’s Financial Services Authority in August, according to regulatory records.

In the US, the passage of the GENIUS Act in July established a federal framework governing stablecoin issuance and use. Since then, the stablecoin market has grown to more than $310 billion, with US dollar–backed tokens Tether’s USDt (USDT) and Circle’s USDC (USDC) together accounting for about 85% of total supply, according to data from DefiLlama.

Coinbase, Kraken, MiCA, OKX, Bybit, Genius Act
Stablecoin market cap. Source: DefiLlama

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