Frank Field, the former Labour MP and minister, has died at the age of 81.
A statement from his family said: “He will be mourned by admirers across politics but above all he will be greatly missed by those lucky enough to have enjoyed his laughter and friendship.”
Lord Field of Birkenhead was asked to “think the unthinkable” to reform welfare by Sir Tony Blair in 1997, but he only lasted a year in the role before clashes with other ministers – including Gordon Brown – saw him return to the backbenches.
Having left the Commons in 2019, Lord Field was later diagnosed with terminal cancer and briefly admitted to hospice care in 2021.
His health had continued to decline, and he swore his oath to the King last year in the House of Lords from a wheelchair.
Tributes poured in from across the political spectrum following his death.
Shadow health secretary Wes Streeting said the late MP was a “great parliamentarian, crusader for social justice and source of wise counsel”. while former home secretary Priti Patel praised his “unwavering moral compass, commitment to working cross-party and unshakable principles”.
Sir Lindsay Hoyle, the Commons speaker, said Lord Field was “neither cowed by the establishment or whips – which made his campaigns against hunger and food poverty, for climate change and the Church, even more effective”.
“Suffice to say, he was one of a kind and he will be sorely missed.”
Early life and becoming an MP
Image: Frank field in 1976, when he was a director of the Child Poverty Action Group
Lord Field was born on 16 July 1942.
He was first elected as the Labour MP for Birkenhead in Merseyside in 1979.
He grew up in London in a working class family, and was a supporter of the Conservative Party in his teenage years, but was thrown out after he opposed apartheid in South Africa.
Lord Field went on to join the Labour Party as a teenager.
After attending grammar school and Hull University, he returned to London and was a councillor in west London in the 1960s.
After losing his seat in 1968, he was director of the charity Child Poverty Action Group until 1979, when he entered parliament.
The Labour Party was in the political wilderness for his first years in parliament, and Margaret Thatcher maintained a firm grip on power. But oddly enough Lord Field still became a regular visitor to Downing Street.
Long before Sir Tony’s new dawn broke with his 1997 election win, the Labour MP was entering Number 10 as he and Mrs Thatcher struck up an unusual friendship.
Lord Field visited her in 1990 to tell her that she was finished and needed to stand down – and they stayed friends afterwards.
‘Think the unthinkable’
Image: Lord Field (back row, fourth from left) with a cabinet committee in 1997
By the time New Labour swept to power, Lord Field was known for his campaigning on welfare and helping the poorest in society.
His Christian faith led him down the path of believing that humans need to be saved from base instincts – and the government should help them do this.
This included believing that too generous a benefits system would no doubt trap people who saw it as a simpler and more lucrative alternative to the labour market.
Ultimately, the rows with the then chancellor Mr Brown – and social security secretary Harriet Harman – saw Lord Field leave the government in 1998.
Return to the backbenches
Despite losing his role in government, Lord Field continued to intervene and voice his opinions on how he believed the welfare system should work.
By the tail end of Labour’s time in office he was dissatisfied with the leadership of Mr Brown, who had succeeded Sir Tony as PM in 2007.
Come 2015, he nominated Jeremy Corbyn to be the party’s leader as he believed there needed to be a plurality of voices heard. But he was not a natural ally of the Corbyn regime when it did take over.
Lord Field was a supporter of Brexit, as he believed freedom of movement was having a negative impact on the UK’s Labour market, among other reasons.
He voted against Labour on pieces of Brexit legislation, and lost a vote of confidence in his Birkenhead constituency party in 2018.
He continued to support Brexit in the House of Commons, and in the 2019 election stood as an independent but lost to the Labour candidate.
Illness and death
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Baroness reads assisted dying statement for colleague
In 2021, Lord Field announced he was terminally ill and revealed he backed assisted dying.
He spent time in a hospice, and a speech in support of assisted dying was read out in the House of Lords on his behalf, having joined the upper chamber in 2020 as a crossbench peer.
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.
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.
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.
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.
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.
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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.
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?
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.
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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.
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.
Image: Labour MP Mike Amesbury was convicted of punching a man in the street. Pic: Reuters
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
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.
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.
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.
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.