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Nigel Farage faces potential FCA probe over links to Bitcoin treasury firm

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Nigel Farage faces potential FCA probe over links to Bitcoin treasury firm

Nigel Farage is facing calls for a formal regulatory probe into his financial involvement with the cryptocurrency firm Stack BTC following his appearance in the company’s promotional content.

Summary

  • Nigel Farage is under scrutiny from the Financial Conduct Authority following a request from the Liberal Democrats to investigate his financial involvement and promotional activities with Stack BTC.
  • The investigation focuses on whether the Reform UK leader breached market rules by appearing in promotional videos for the firm while holding a 6.31% stake in the business.

The Liberal Democrats sent a letter to the Financial Conduct Authority (FCA) requesting an investigation into whether the Reform UK leader violated market rules by appearing in marketing videos while holding a financial stake in the business. 

Daisy Cooper, the party’s deputy leader, raised concerns that the move could compromise the integrity of the financial markets. 

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“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.

Stack BTC, which is chaired by former Chancellor Kwasi Kwarteng, recently announced the purchase of 37 Bitcoin for approximately $2.7 million as part of a strategy to build its corporate treasury. 

In a video released to coincide with the disclosure, Farage appeared on behalf of the firm to argue that a Bitcoin treasury company is essentially required to hold the digital asset. 

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This acquisition brings the company’s total holdings to 68 Bitcoin, bought at an average price of $72,400 per coin.

Records indicate that Farage has significantly increased his personal stake in the sector, having disclosed a $286,000 equity investment in Stack BTC this March. This gave him a 6.31% share in the company through his media vehicle, Thorn In The Side. 

Cooper suggested that the intersection of Farage’s political platform and his private investments needs to be looked at more closely. 

“Taken together, these facts beg the question whether Mr Farage is promoting cryptocurrencies through his political platform in order to inflate crypto values for his own financial benefit, as well as that of his party and his inner circle of donors,” she wrote.

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The controversy unfolds as the UK government moves to tighten the rules surrounding digital assets and political influence. 

Last month, the Rycroft Review recommended a moratorium on cryptocurrency donations to political parties, citing fears that such funds could be used for foreign interference in British elections. 

Prime Minister Keir Starmer has since moved forward with this proposal, implementing a temporary ban while the government develops more robust safeguards.

This regulatory pressure comes at a time when Reform UK is already under the spotlight for its funding, having received a record £9 million donation from early crypto investor Christopher Harborne. 

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While Farage continues to push for crypto-friendly policies, members of parliament are increasingly advocating for a permanent ban on digital asset donations to ensure that financial markets are not used as a “personal piggy bank” for political figures.

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Crypto World

XRP Targets 2026 Highs After Binance Flows Flash Bull Market Signal

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Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch

XRP (XRP) has consolidated within a tight price range below $1.40 over the past 20 days, but new data suggests it may be poised for a bullish breakout after a shift in Binance activity signals reduced sell-side pressure. 

Binance’s withdrawal and deposit activity is flashing a setup that mirrors June 2025, when the altcoin embarked on a rally to $3.65.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP/USDT on the one-day chart. Source: Cointelegraph/TradingView

XRP Binance deposits drop to 2025 lows

Crypto analyst Amr Taha noted a shift in XRP activity on Binance, with transaction flows moving away from deposit-heavy behavior. The seven-day average shows XRP withdrawals rising to 53% while deposits dropped to 46%, returning to the levels last seen in June 2025.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
Binance daily deposit/withdrawal transactions. Source: CryptoQuant

That prior setup aligned with a 65% XRP rally to all-time highs of $3.65 in July 2025, placing the current shift on traders’ radar.

The falling deposit activity signals fewer coins moving onto exchanges, while rising withdrawals indicate assets leaving exchanges. This reduces immediate sell-side pressure if sustained over multiple trading sessions.

Currently, XRP flow on Binance is no longer dominated by incoming supply. This indicates a change in trader positioning, with fewer participants preparing to sell into the market.

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Meanwhile, liquidity has contracted sharply. CryptoQuant data shows XRP’s 30-day liquidity index on Binance dropping to 0.053, the lowest level since 2021. The 30-day trading volume stands at nearly 3.77 billion XRP, marking one of the weakest periods of activity in recent years.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP Binance liquidity index. Source: CryptoQuant

The price action aligns with this slowdown. XRP trades near $1.38 with limited movement over the past three weeks, consistent with a quieter order book and reduced trader participation. These lower-liquidity phases may coalesce momentum and precede a stronger directional move once activity returns.

Related: Bitcoin’s struggle to build long-lasting uptrend continues: Here’s why

XRP traders position in futures markets

While XRP price consolidates, onchain data shows an aggregated spot cumulative volume delta (CVD) of -$153 million and a futures CVD near -$295 million, pointing to a reduction in aggressive selling.

Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP price, aggregated open interest, funding, spot, and futures CVD. Source: velo.chart

The buy-side activity has not expanded, keeping the price movement muted. The funding rates have turned slightly positive at 0.06%, signaling a mild long bias.

Open interest has climbed to nearly $769 million, suggesting fresh positions are entering the market.

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Cryptocurrencies, Adoption, XRP, Markets, Derivatives, Financial Derivatives, Binance, Price Analysis, Futures, Market Analysis, Altcoin Watch
XRP/USDT on the one-day chart. Source: Cointelegraph/TradingView

From a technical perspective, a daily close above $1.40 opens the door to $1.60–$1.67. That $1.40 level also aligns with the 50-day moving average, which may flip into support on a bullish breakout.

The liquidation data shows roughly $250–$300 million in cumulative long/short positions at risk within a 10% move in either direction. Compared to larger assets like BTC (BTC) and Ether (ETH), the liquidity is relatively small, suggesting lower trader participation near $1.40.

Related: XRP Ledger taps Boundless for bank-grade privacy on public blockchains