“In the past, the predominant threat was highly organised groups with clear political intent. Groups like al Qaeda. That threat, of course, remains,” he said.
“But now, alongside that, we also see acts of extreme violence perpetrated by loners, misfits, young men in their bedroom accessing all manner of material online, desperate for notoriety, sometimes inspired by traditional terrorist groups, but fixated on that extreme violence seeming only for its own sake.”
He added: “If a law needs to change to recognise this new and dangerous threat, then we will change it and quickly, and we will also review our entire counter-extremist system to make sure we have what we need to defeat it.”
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3:57
Southport murderer – what you need to know
The PM announced Sir David Anderson KC, an independent reviewer of terror legislation, has been appointed as the new independent commissioner for Prevent, the UK’s anti-extremism scheme.
After his guilty plea, it emerged Rudakubana was referred to the Prevent scheme three times in the 17 months before the attack over concerns about his fixation with violence but a judgement was made that he did not require intervention.
Sir Keir said the Southport killings “must be a line in the sand for Britain” and there must be “fundamental change” in how the country protects its children.
“The senseless barbaric murder of three young girls in Southport is a devastating moment in our history. No words come anywhere close to expressing the brutality and horror in this case,” he said.
Sir Keir said an inquiry was needed “because we are dealing with a new cohort, a new different threat, this individualised extreme violence”.
He said the government would not wait until the inquiry finished before making changes, adding: “We need to get on with the change in the meantime and to reassure the public that every step has been taken to protect their children.”
‘I would never disclose details that could collapse a trial’
The prime minister also said he knew Rudakubana was known to the authorities and referred to Prevent when the attacks happened, but he could not reveal that at the time because it risked collapsing the trial.
“The vile individual who committed these crimes would have walked away, a free man, the prospect of justice destroyed for the victims and their families,” he said.
“I would never do that, and nobody would ever forgive me if I had. That is why the law of this country forbade me or anyone else from disclosing details sooner.”
Following the killings, misinformation online, claiming the killer was an asylum seeker who had recently arrived by small boat, prompted riots across the UK.
Sir Keir’s critics accused him of a cover-up but the PM said if he had revealed Rudakubana’s background the only losers would have been the victims and their families.
But he admitted the state had failed to identify the teenager was a serious threat.
“There has been a failure here, and I don’t intend to let any institution of the state deflect from their failures,” he said.
Image: Tributes to the victims were left near the Southport community centre where they were attacked. Pic: PA
A history of violence
On Monday, Rudakubana unexpectedly pleaded guilty to murdering Alice da Silva Aguiar, nine, Bebe King, six, and Elsie Dot Stancombe, seven, on 29 July last year on what was due to be the first day of his trial.
Rudakubana also admitted to 10 counts of attempted murder and possession of a kitchen knife during the attack in the Merseyside town.
A week before the attack, Rudakubana, then 17, booked a taxi to take him to his old school, Range High School in Formby, but his father stopped him from leaving, it is understood.
The teenager, who has been diagnosed with autism spectrum disorder, was expelled from the school in about 2019 over claims he was carrying a knife after telling Childline he was being racially bullied and brought the knife to protect himself.
It is understood that, after his exclusion, he returned to the school to target a former bully or someone he had a grievance with and assaulted someone with a hockey stick.
Rudakubana then attended two specialist schools, where teachers were concerned about his behaviour.
KuCoin announced an exclusive multiyear deal with Tomorrowland Winter and Tomorrowland Belgium from 2026 to 2028, making the exchange the music festival’s exclusive crypto and payments partner.
The move comes just weeks after KuCoin secured a Markets in Crypto-Assets Regulation (MiCA) service provider license in the European Union.
KuCoin’s MiCA play goes mass‑market
KuCoin EU Exchange recently obtained a crypto asset service provider license in Austria under the EU’s MiCA regime, giving it a fully regulated foothold in the bloc as Brussels’ new rulebook for exchanges, custody and stablecoins comes into force.
The Tomorrowland deal signals how KuCoin plans to use that status, not just to run a compliant trading venue, but to plug crypto rails directly into mainstream culture.
KuCoin joins forces with Tomorrowland. Source: KuCoin
KuCoin said the Tomorrowland deal will cover Tomorrowland Winter 2026 in Alpe d’Huez, France, and Tomorrowland Belgium 2026 in Boom, Belgium, with the same arrangement continuing through 2028.
KuCoin insists this is not just a logo play. A spokesperson at KuCoin told Cointelegraph that as an exclusive payments partner, the exchange is working with Tomorrowland to weave crypto into the festival’s existing payments stack so that “financial tools” sit behind the scenes of ticketing, merch and food and drink.
The stated goal is to keep the rails “intuitive and invisible,” rather than forcing festivalgoers through clunky wallets or unfamiliar flows, with KuCoin positioning itself as facilitating the secure and efficient movement of value while fans focus on the music.
The company declined to spell out exactly which assets and rails will be supported on‑site, or whether every purchase will run natively onchain, but said that KuCoin’s “Trust First. Trade Next.” mantra runs through its messaging.
The spokesperson stressed advanced security, multi‑layer protection and adherence to EU standards as the foundation for taking crypto beyond the trading screen and into live events.
Tomorrowland’s organizers have been here before. In 2022, the festival announced a Web3 partnership with FTX Europe that promised NFTs and “the future of music festivals” before collapsing along with the exchange itself months later.
That experience makes the choice of a MiCA‑licensed partner, and the emphasis on user protection, more than cosmetic; it is a second attempt at bridging culture and crypto (this time with regulatory scaffolding and clearer guardrails).
Rather than setting public hard targets for user numbers or payment volumes by 2028, KuCoin is pitching success as “seamless integration” of crypto into the festival experience:
“We aim to demonstrate that digital assets can be a core component of global digital finance, moving from a niche technology to a mainstream utility. “
Screenshots of an internal email outlining plans to wind down Shima Capital have surfaced online, days after the US Securities and Exchange Commission sued the crypto venture firm and its founder over allegations of investor fraud.
On Nov. 25, the SEC charged Shima Capital Management LLC and its founder, Yida Gao, with making false and misleading statements while raising almost $170 million from investors, the agency announced on Dec. 3.
The complaint, filed in the US District Court for the Northern District of California, alleged that Gao inflated his investment track record in marketing materials used to raise capital for Shima Capital Fund I between 2021 and 2023.
According to the SEC, Gao claimed one prior investment had delivered a 90x return, when the actual return was closer to 2.8x. The regulator also alleged that when discrepancies in the pitch deck were about to be reported publicly, Gao told investors the issues were the result of clerical errors.
SEC alleges $1.9 million undisclosed gain
Separately, the SEC claimed that Gao raised about $11.9 million through a special purpose vehicle tied to BitClout tokens, telling investors that they would be protected by discounted token purchases. While Gao did acquire tokens at a discount, the SEC said he sold them to the SPV at a higher price without disclosing that he personally retained about $1.9 million in profits.
In a Wednesday post on X, crypto journalist Kate Irwin shared screenshots of an email allegedly sent by Gao to portfolio founders. In the screenshots, Gao purportedly said he would step down as managing director of Shima Capital and that the fund would undergo an “orderly wind-down.”
Gao’s alleged email to portfolio companies. Source: Kate Irwin
The screenshots purportedly show Gao stating that the SEC and Department of Justice actions are related to his personal conduct, not that of Shima Capital’s portfolio companies, and claiming that no fines have been imposed on the company.
The screenshots also show that independent advisers from FTI Consulting and FTI Capital Management would oversee the wind-down process and monetization of investments, while Shima’s finance team would remain in place. Gao allegedly said he would remain involved with portfolio support “as permitted,” but without management control.
Cointelegraph could not independently verify the email. We reached out to Shima Capital and some of the fund’s portfolio companies for confirmation, but had not received responses at the time of publication.
Shima Capital launched with $200 million debut fund
In 2022, Shima Capital announced the launch of its first venture fund, Shima Capital Fund I, raising $200 million to back early-stage blockchain startups. Founded in 2021 by Gao, the firm said the fund received backing from a range of prominent investors, including Dragonfly Capital, Animoca Brands, OKX Blockdream Capital, Republic and Andrew Yang.
Shima Capital has invested in numerous crypto projects, including Humanity Protocol, Berachain, Monad, Pudgy Penguins, Shiba Inu and many others.