Peers in the House of Lords charged taxpayers more than £46,000 on their day of tributes to Prince Philip.
In a Freedom of Information request by Sky News, it was revealed that 162 peers in the upper chamber claimed a daily allowance for 12 April.
Only 65 of those who claimed actually made a speech to pay their respects to the Queen’s late husband.
Image: Peers paid tribute to Prince Philip in the House of Lords on 12 April
Peers are allowed to claim a £323 allowance for each day they attend the House of Lords, or £162 if they participate virtually from home.
On 12 April, following the news of Prince Philip‘s death three days earlier, proceedings in the House of Lords were dedicated solely to more than five-and-a-half hours of tributes.
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Of the 97 peers who claimed a daily allowance despite not speaking in the chamber that day, 14 peers were deputy chairmen of committees – a role that allows them to deputise for the Lord Speaker if necessary.
A further 52 peers are either members of a Lords committee or hold a frontbench role for their parties.
More on Prince Philip
Meanwhile, 31 peers who claimed the allowance and did not speak in the chamber that day appear to have no other formal role in the Lords.
Image: The Duke of Edinburgh died on 9 April at the age of 99. Pic: AP
Campaigners for reform of the House of Lords claimed that some peers saw the upper house as a “cash cow”.
The Freedom of Information request also showed that two peers who spoke in the Lords chamber to deliver tributes to Prince Philip claimed for the full £323 allowance, despite making their speeches via video link.
And one peer claimed the full allowance despite official records showing they withdrew from speaking in the chamber that day.
The House of Lords said there were no discrepancies between the official record of peers who attended parliament in person on 12 April and claims for the full £323 daily allowance.
Darren Hughes, the chief executive of the Electoral Reform Society, told Sky News: “This is the kind of expenses scandal in the unelected Lords which just seems to keep repeating itself.
“While many peers work hard, too many appear to see the Lords as a cash cow – eroding trust in the work of parliament as a whole.
“There is simply no way for voters to kick out those who fall short of the standards we need in the UK’s revising chamber.”
“Right now, the Lords looks more like a private member’s club than the effective scrutiny body Britain deserves.
“The unelected Lords is devoid of accountability, and that has to change.
“In 2021, it is outrageous that prime ministers can appoint unlimited numbers of donors, party figures and friends to claim expenses and vote on our laws for life.”
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Duke of Edinburgh laid to rest
Currently, there are about 800 members who are eligible to take part in the work of the House of Lords.
This means the Lords is the second-largest legislative chamber in the world behind China’s National People’s Congress.
The former Lord Speaker, Lord Fowler, last year criticised Prime Minister Boris Johnson for making a raft of new appointments to the House of Lords to increase the number of peers.
During his time as Lord Speaker, Lord Fowler had backed efforts to reduce the size of the Lords to 600 members.
A House of Lords spokesperson told Sky News that peers are “responsible for ensuring that claims they make are in accordance with the rules contained in the code of conduct” and that a “large majority of members take these duties seriously and undertake them with diligence”.
They said that “any breaches will be investigated under the code of conduct procedure”.
The spokesperson added: “The sitting of the House for tributes to the Duke of Edinburgh on Monday 12 April constituted parliamentary business and so members were allowed to claim daily attendance allowance if they qualified for it and wished to do so.
“Members who physically attended Westminster on that date would have been entitled to claim their full daily attendance allowance even if they didn’t speak in the chamber.
“Members who were unable to be in the chamber due to capacity issues, but had their attendance verified in specified parts of the estate, were also entitled to claim the full allowance if they were present when the House was sitting.
“Members of the House of Lords bring a wealth of experience and expertise from outside parliament into the various aspects of their role in scrutinising and improving legislation and holding the government to account.
“Not all the work that members undertake and which attracts an allowance is visible – much of it is done behind the scenes including select committee work, researching issues and meeting campaigners and members of the public.”
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.