Lib Dems Urge FCA Probe Into Farage’s Bitcoin Promotion
The party says Farage’s 6.3% stake and £215,000 investment create a conflict of interest and could amount to market abuse.
- Reform UK leader Nigel Farage announced a £2M Bitcoin purchase for Stack BTC on Monday, becoming the first sitting MP to publicly buy the cryptocurrency.
- Former Chancellor Kwasi Kwarteng, who served 38 days under Prime Minister Liz Truss, chairs Stack and appeared alongside Farage in a promotional video for the investment.
- Farage owns 6.3% of Stack through his investment vehicle Thorn In The Side Ltd, having invested £215,000 in March, and received £226,200 for promotional work from Direct Bullion.
- Liberal Democrats deputy leader Daisy Cooper called for Financial Conduct Authority investigation into potential "attempted market abuse," while Labour Party chair Anna Turley criticized Farage for "hyping up" Kwarteng.
- Prime Minister Keir Starmer pledged to ban cryptocurrency donations to political parties, while the Financial Conduct Authority stated it will review the Liberal Democrats' letter regarding the investment.
23 Articles
23 Articles
Nigel Farage criticised for appearing in video promoting £2 million Bitcoin deal
Nigel Farage has been criticised by Labour and the Lib Dems for appearing in a video alongside Liz Truss’ former chancellor Kwasi Kwarteng, to promote a £2 million Bitcoin purchase. Kwarteng joined Stack as its executive chair last October. A Reform spokesperson said that Farage had “bought the [£2m of] crypto on behalf of Stack and not personally”. Last month, it emerged Farage, who has been paid to speak at crypto conferences and promoted cryp…
The Independent
The Independent (US)Farage makes £2m bitcoin purchase as he backs Kwarteng’s cryptocurrency firm
Stack BTC said the purchase was a ‘landmark moment’ in British politics
UK Lawmaker Calls For Probe Into Nigel Farage’s Crypto Ties After $2.7M Stack BTC Promotion
A UK lawmaker has asked the financial authorities to investigate Nigel Farage’s promotion of a Bitcoin (BTC) treasury firm, raising concerns about potential market abuse and conflicts of interest due to the politician’s potential ties to the crypto industry. Related Reading: Kraken Reveals Extortion Demands After Client Data Incident: ‘We Will Not Pay’, Security Chief […]
UK MP Calls For Crypto Probe Of Nigel Farage’s $2.7M BTC Buy
A UK lawmaker has asked the financial authorities to investigate Nigel Farage’s promotion of a Bitcoin (BTC) treasury firm, raising concerns about potential market abuse and conflicts of interest due to the politician’s potential ties to the crypto industry. Farage’s Stack BTC Video Prompts Scrutiny On Monday, UK Liberal Democrat deputy leader Daisy Cooper asked the Financial Conduct Authority (FCA) CEO, Nikhil Rathi, to investigate Reform UK le…
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