UK Liberal Democrats Urge FCA Probe into Nigel Farage Over Crypto Ties

The UK Liberal Democrats have formally requested that the Financial Conduct Authority (FCA) investigate Nigel Farage, leader of Reform UK, regarding his relationship with the Bitcoin treasury firm Stack BTC. The call for a probe comes after Stack BTC disclosed a $2.7 million purchase of 37 Bitcoin and released promotional content featuring Farage. Deputy Liberal Democrat leader Daisy Cooper questioned whether Farage's role as both a shareholder and a promoter constitutes market abuse or a conflict of interest. In a letter to the regulator, Cooper argued that political leaders should not be permitted to use financial markets for personal gain. Farage holds a 6.31% stake in Stack BTC, representing an equity investment of $286,000 made through his media vehicle, Thorn In The Side. The company, which is chaired by former UK Chancellor Kwasi Kwarteng, currently holds over 68 BTC with an average acquisition cost of $72,400 per coin. The controversy is further compounded by a £9 million ($12 million) donation to Reform UK from crypto investor Christopher Harborne. Critics suggest that Farage may be utilizing his political platform to inflate digital asset values for the benefit of his party and inner circle of donors. This development coincides with a broader UK crackdown on the intersection of digital assets and politics. Following the Rycroft Review, Prime Minister Keir Starmer has announced that the government will impose a temporary ban on cryptocurrency donations to political parties until stronger safeguards are established to prevent foreign financial interference.