Stack | Crypto

UK Liberal Democrats called on the FCA to examine Nigel Farage’s promotion of Stack BTC as scrutiny grows over crypto conflicts and political donations. UK Liberal Democrats have urged the Financial Conduct Authority (FCA) to investigate Nigel Farage’s involvement with Bitcoin treasury firm Stack BTC following a promotional video and disclosed shareholding. In a letter to the FCA, Liberal Democrat deputy leader Daisy Cooper asked the regulator to investigate whether Farage breached market rules by appearing in a promotional video for Stack BTC while holding a financial stake in the company. “The FCA must investigate whether Farage’s plans to cash in on Crypto could potentially amount to market abuse and a conflict of interest,” she wrote, adding that “we cannot allow political leaders to treat the financial markets like a personal piggy bank to potentially line their own pockets.” Read more

Nigel Farage has acquired a 6.31% stake in the London-listed Bitcoin treasury company Stack BTC amid broader scrutiny over crypto donations in UK politics. Reform UK party leader Nigel Farage has invested 215,000 pounds (around $286,000) in Stack BTC, a London-listed Bitcoin treasury company chaired by former UK Chancellor Kwasi Kwarteng, as the Reform UK leader deepens his ties to the crypto sector.  The investment gives Farage a 6.31% stake in the company through his media vehicle Thorn In The Side, according to a Monday release. Stack said it raised $346,000 by issuing 5.2 million new shares at $0.065 each in a strategic funding round that included Farage and Blockchain.com. The company said Blockchain.com also entered a partnership to help deliver institutional-grade services for Stack’s planned Bitcoin (BTC) treasury. Read more

Bitmine has acquired an additional $69 million in ETH, increasing its total treasury to $8.66 billion, solidifying its position as the largest corporate ETH holder, with its reserves now accounting for nearly 2% of Ethereum’s total supply. The post Tom Lee’s Bitmine Buys Another $69M ETH, Holds Massive $8.66B Stack appeared first on Cryptonews.