Nigel Farage takes important stake in Kwasi Kwarteng’s Bitcoin firm

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Your assist makes all of the distinction. Learn extra Nigel Farage has acquired a major stake in a bitcoin reserve enterprise helmed by Liz Truss’s former chancellor Kwasi Kwarteng.

The Reform UK chief has invested £215,000 in Stack BTC, collaborating in an fairness fundraising that additionally concerned Blockchain.com. Mr Farage secured 4.3 million shares by way of his funding automobile Thorn In The Facet Ltd at a value of 5p per share, giving him 6.3 per cent possession. The corporate confirmed that the entire funding from this fundraising was £260,000.

Mr Farage mentioned of the funding: “I've lengthy been one of many UK’s few political advocates for bitcoin, recognising the function digital currencies will play in the way forward for enterprise and finance.

“London and the UK has traditionally been the centre of the world’s monetary markets, and I consider that we are able to and needs to be a significant world hub for the crypto business.”

<img src="https://static.independent.co.uk/2026/03/09/09/fc1d4c9901821900e5f40a28a3e07e06Y29udGVudHNlYXJjaGFwaSwxNzczMTMzNzMw-2.75130166.jpg" srcset="https://static.independent.co.uk/2026/03/09/09/fc1d4c9901821900e5f40a28a3e07e06Y29udGVudHNlYXJjaGFwaSwxNzczMTMzNzMw-2.75130166.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2026/03/09/09/fc1d4c9901821900e5f40a28a3e07e06Y29udGVudHNlYXJjaGFwaSwxNzczMTMzNzMw-2.75130166.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Former chancellor Kwasi Kwarteng is executive chairman of Stack" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Former chancellor Kwasi Kwarteng is government chairman of Stack (PA) Labour questioned why Mr Farage was investing his cash with the “architect of Liz Truss’s disastrous mini Finances”.

A Labour Occasion spokesperson mentioned: “Nigel Farage hailed Liz Truss’s disastrous economy-crashing mini-Finances because the ‘finest Conservative finances since 1986’. Now the Reform chief is pouring a whole lot of 1000's of kilos into the enterprise of the architect of that chaos. What a complete slap within the face for households nonetheless footing large mortgages. Farage proves time and time once more that he merely isn’t on the aspect of working folks.”

Questions have been raised over Mr Farage and Reform’s relationship with cryptocurrency after two donations price £12m had been made to the get together by the Thailand-based crypto entrepreneur Christopher Harborne.

The federal government has requested the Electoral Fee to analyze crypto donations that Mr Farage claimed Reform obtained final 12 months and that haven't been registered.

Stack just isn't the primary crypto funding made by Mr Farage, having beforehand invested in Tether.

Stack, a London-based agency listed on the UK challenger inventory change Aquis, operates by constructing a portfolio of firms and channelling their surplus money into bitcoin. Its core goal is to determine a considerable bitcoin treasury by way of steady accumulation of the digital forex.

The enterprise is chaired by Mr Kwarteng, most generally recognised for his temporary 38-day tenure as chancellor in 2022, throughout which he co-authored the controversial mini-budget with Ms Truss.

The pound fell to a 37-year low after Mr Kwarteng introduced the most important tranche of tax cuts for half a century, to be funded by greater than £70 billion of elevated borrowing. He additionally served as Conservative MP for Spelthorne, Surrey, till 2024.

Mr Kwarteng, who controls a 5.4 per cent stake in Stack collectively together with his spouse, Harriet, mentioned: “We're completely delighted to have Nigel Farage and Blockchain.com turn into strategic buyers in Stack. Nigel’s unwavering assist for British enterprise and perception that Bitcoin is about to quickly develop its function in finance is completely aligned with the corporate’s ethos and enterprise plans.”

<img src="https://static.independent.co.uk/2026/03/09/09/684c5d4d1a9afdeccbf737df6ea53620Y29udGVudHNlYXJjaGFwaSwxNzczMTMzMTY5-2.83744299.jpg" srcset="https://static.independent.co.uk/2026/03/09/09/684c5d4d1a9afdeccbf737df6ea53620Y29udGVudHNlYXJjaGFwaSwxNzczMTMzMTY5-2.83744299.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2026/03/09/09/684c5d4d1a9afdeccbf737df6ea53620Y29udGVudHNlYXJjaGFwaSwxNzczMTMzMTY5-2.83744299.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Mr Farage has taken a 6.3 per cent stake in a Bitcoin reserve business led by Mr Kwarteng" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Mr Farage has taken a 6.3 per cent stake in a Bitcoin reserve enterprise led by Mr Kwarteng (PA) Reform UK final 12 months pledged to slash purple tape and minimize taxes on cryptocurrencies and arrange a bitcoin reserve fund if elected, which might permit folks to pay tax within the cryptocurrency.

The Treasury just lately introduced laws to control cryptocurrencies like bitcoin in an analogous method to that of different finance merchandise. This follows efforts to overtake the market, which has grown in reputation in recent times as a substitute funding product and a method of constructing funds.

The UK’s monetary regulator has nonetheless warned that it's a “excessive danger” funding and that individuals might “lose all their cash” from the asset.