Key Highlights
- Daisy Cooper urges the FCA to investigate Nigel Farage over crypto-related conduct.
- The concerns focus on Farage’s Bitcoin promotion and investment in Stack BTC, raising potential conflicts of interest.
- Cooper compares his approach to Donald Trump’s “crypto playbook,” citing risks to retail investors and market integrity.
British Liberal Democrat politician Daisy Cooper has asked the Financial Conduct Authority (FCA) to investigate Nigel Farage, alleging his recent crypto activity and public messaging resemble tactics associated with U.S. President Donald Trump.
In a letter to FCA chief Nikhil Rathi on Tuesday, Cooper raised concerns about potential market abuse, conflicts of interest, and risks to retail investors. She added, “This raises real concerns that Nigel Farage could be using the Donald Trump playbook to put his own financial interests above the public good, potentially luring people into high-risk schemes for his own gain.”
Bitcoin promotion and investment timeline questioned
The complaint centers on Farage’s involvement with crypto firm Stack BTC. Cooper pointed to a promotional video in which the firm claimed Farage executed a £2 million bitcoin purchase on its behalf.
The transaction came weeks after Farage reportedly invested £215,000 in the same company. Cooper argued that the sequence raises questions about whether his financial interests align with his public promotion of crypto assets.
Political donations add to scrutiny
Cooper also highlighted a £9 million donation to Reform UK from Christopher Harborne, an investor linked to Tether.
She described the contribution as one of the largest in UK political history and questioned whether crypto-linked funding could influence policy positions or public advocacy.
Claims of “Trump-style” crypto strategy
In her letter, Cooper drew parallels between Farage’s stance and what she described as a “Trump playbook.” She referenced reports that Trump and his family have generated significant income from crypto-related ventures while in office. According to Cooper, Farage has pushed for policies that could expand crypto adoption in the UK, including:
- Proposals for a national bitcoin reserve
- Accepting crypto for tax payments
- Broader regulatory intervention to support the sector
She suggested these positions, combined with personal investments, warrant closer regulatory review.
Concerns over public messaging on crypto
Beyond financial ties, Cooper raised concerns about Farage’s public statements on digital assets. She cited past interviews and commentary in which Farage highlighted potential high returns and questioned regulatory warnings. In one instance, he did not challenge claims that bitcoin could exceed $1 million in value.
More recently, Farage has described cryptocurrency as “the ultimate freedom,” a framing Cooper argues may encourage investment without adequate risk disclosure.
Call for regulatory review
Cooper has asked the FCA to examine whether Farage’s actions:
- Amount to attempted market manipulation
- Represent a conflict between political advocacy and personal gain
- Expose retail investors to undue financial risk
The regulator has not yet publicly responded to the request. The case adds to broader scrutiny of how political figures engage with and promote crypto markets.
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