Overview
- Stack BTC, a London-listed vehicle chaired by former chancellor Kwasi Kwarteng, bought 37 Bitcoin on Monday, taking its holdings to about 68 BTC.
- The company billed Nigel Farage’s on-camera role as the first time a sitting MP and UK party leader publicly bought bitcoin.
- Farage holds about 6.3% of Stack BTC through his firm and appeared in the purchase video, leading Liberal Democrat Daisy Cooper to seek an FCA investigation into possible market abuse or conflicts.
- The Financial Conduct Authority confirmed it had received the request and said it would review the matter.
- The scrutiny comes as the government enforces a temporary ban on crypto donations and a £100,000 cap on overseas gifts, with Reform UK’s crypto-linked backers such as Christopher Harborne and Ben Delo under renewed focus.