Bitcoin HODL Hard, Politician Drama: FCA Gets Nudge to Probe Farage's $2.7M Stack BTC Promo Gig

The UK Liberal Democrats have dropped a regulatory grenade at the FCA's feet, demanding they dig into Nigel Farage's cozy entanglement with Stack BTC—the Bitcoin treasury company that just HODLed its way to a 37 BTC purchase worth roughly $2.7 million, complete with promotional material starring the Reform UK leader, who also happens to be holding a not-insignificant bag in the company.

Liberal Democrat deputy leader Daisy Cooper went full investigative journalist, firing off a letter demanding the regulator examine whether Farage broke market rules by shilling Stack BTC in a promo video while simultaneously clutching shares like a degen holding a winning lottery ticket.

"The FCA must investigate whether Farage's plans to cash in on Crypto could potentially amount to market abuse and a conflict of interest," Cooper wrote, apparently unfamiliar with the concept that in crypto, conflict of interest is just called "alpha."

In the video tied to the Bitcoin purchase, Farage confidently declared a Bitcoin treasury company cannot exist without holding Bitcoin—groundbreaking analysis that would make even the most die-hard HODLer nod in approval. Meanwhile, Stack BTC announced the buy as part of its treasury strategy, because apparently "we bought the dip" is now a formal corporate policy.

Farage disclosed a $286,000 equity investment in Stack BTC back in March, grabbing a 6.31% stake through his media vehicle Thorn In The Side—which, given Farage's talent for being a thorn in everyone's side, is at least on-brand. The company, chaired by former UK Chancellor Kwasi Kwarteng (apparently the only person in British politics who remembers what fiscal responsibility looks like), now holds over 68 BTC purchased at an average cost of $72,400 per coin—slightly underwater, but who's counting when you're building a treasury?

Cooper's letter also flagged the record £9 million (about $12 million) donation to Reform UK from early crypto investor Christopher