UK Liberal Democrat deputy leader Daisy Cooper has asked the Financial Conduct Authority (FCA) to investigate Nigel Farage’s role in a £2 million Bitcoin deal. Farage appeared in a video promoting a large Bitcoin purchase by Stack BTC, a British crypto firm where he is also a shareholder.
Stack bought around £2 million worth of Bitcoin, roughly 37 BTC, and then released a video featuring Farage and former chancellor Kwasi Kwarteng. Farage has invested about £215,000 into Stack through his company, giving him a stake of just over 6%. Critics argue that promoting the deal while holding equity raises serious conflict‑of‑interest concerns.
A Reform UK spokesperson says Farage bought the Bitcoin on behalf of Stack, not for himself. Labour, however, has described his involvement as “a bid to line his pockets.”
‘Trump Playbook’ Accusation and FCA Complaint
In her letter, Cooper accuses Farage of following a “Donald Trump playbook” by using crypto promotion to serve his own financial interests. She warns that he could be “luring people into high‑risk schemes for his own gain,” echoing Trump’s embrace of crypto‑friendly messaging in the U.S.
Cooper urges the FCA to examine whether Farage’s behavior could amount to market abuse or a conflict of interest. She argues that political figures must not treat financial markets “like a personal piggy bank.” The complaint also fits into a larger debate about crypto money in UK politics.
An FCA spokesperson said the regulator will review Cooper’s letter and respond directly. The agency has not yet announced a formal investigation, but any probe could look at how the video was marketed and who it targeted.
Farage’s Wider Crypto Push and Political Ties
Farage has spent the past two years positioning himself as a champion of crypto voters and investors. He has spoken at Bitcoin conferences, backed lower taxes on digital assets, and called for the UK to build a state Bitcoin reserve.
“Trump‑aligned” crypto network. Byline Times reported that he received payments from David Bailey, a U.S. Bitcoin advocate who worked with former Trump campaign chair Paul Manafort on Bitcoin policy. That work included lobbying for a U.S. “Strategic Bitcoin Reserve,” a concept Farage later echoed in his speeches.
Reform UK has also faced questions about crypto‑linked donations and funding routes. Previous reporting suggested the party converted crypto contributions into cash before they reached official accounts, making donors harder to trace.
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