Nigel Farage Backs Bitcoin Treasury Firm Chaired By Former Chancellor

Reform UK leader Nigel Farage has invested in Bitcoin treasury‑focused firm Stack BTC Plc as part of a £260,000 ($333,000) fundraising round split between him and Blockchain.com, the company said Monday.

“I am delighted to have become an investor in Stack and lend my support to the team,” Farage said in a statement. “I have long been one of the UK’s few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance.”

The firm, formerly known as Kasei Digital Assets Plc, plans to buy up companies and then invest the profits they generate to fund their treasury. The proceeds of the fundraising round will be used to “initiate the Bitcoin treasury,” which will launch with 21 BTC worth around $1.45 million, according to its website.

A spokesperson for Blockchain.com told Decrypt the partnership would involve providing institutional services to the company, including custody, staking and yield tools.

Farage, Reform UK and crypto

For Farage, the investment marks another stage in his increasingly Trump-esque pivot to backing the crypto industry. But his and his party’s embrace of cryptocurrency—from accepting crypto donations to cultivating industry support—has also drawn growing scrutiny from lawmakers and anti‑corruption groups.

Reform UK became the first major British political party to accept crypto donations in June 2025, a move that prompted criticism from transparency campaigners and some lawmakers who warn the practice could open the door to money laundering or foreign interference in elections. Reform has not disclosed any large donations made using crypto, and the donation page on its site appears to be broken.

Late last year, Reform UK accepted an $11.4 million donation, the biggest ever gift from a living donor, from DigFinex shareholder Christopher Harborne—albeit not in the form of crypto. Nevertheless, the donation prompted calls for an investigation from both the Liberal Democrats and the Labour Party, the latter of which called on Reform to provide more details on whether it has received crypto donations.

Last week, Labour MP Rushanara Ali joined a growing list of MPs calling for an outright ban on crypto political donations, describing them as a potential vector for “foreign interference in our democracy.” Several parliamentary committee chairs have also urged the government to prohibit such donations entirely, arguing that the pseudonymous nature of cryptocurrency transactions could make enforcement of campaign finance rules more difficult.

Advocacy groups including Spotlight on Corruption have echoed those concerns, saying regulators currently lack the powers to adequately monitor the risks associated with crypto‑based political funding.

Farage himself has built close ties to the crypto industry beyond politics. Financial disclosures show he earned £20,000 ($25,600) for speaking at the Zebu Live crypto event in October, £30,000 ($38,400) for an appearance at a Blockworks conference and £7,410 ($9,500) for at the Bitcoin Conference.

But Farage isn’t the only politician involved in Stack. Its executive chairman is former chancellor Kwasi Kwarteng, who served under Liz Truss for 38 days during her short‑lived premiership in 2022.

“We are delighted to welcome Nigel Farage and Blockchain.com as strategic investors in Stack,” Kwarteng said in a tweet. “Nigel’s long‑standing support for British business and his belief that Bitcoin will play an expanding role in global finance align closely with our vision.”

The friendly relationship may raise eyebrows given the pair’s past political clashes. In an April 2025 column in the i newspaper, Kwarteng warned about what he described as a “threat from the populist right” in Britain, singling out Farage and Reform UK.

“Feeding off resentment and disaffection, Farage is a perpetual oppositionist, regularly focusing on single issues that gain him media and public attention,” he wrote at the time.

Reform figures have previously targeted Kwarteng as well. In November 2024, Reform’s Spokesperson for Home Affairs Zia Yusuf posted a poll on social media asking followers to vote on the worst chancellor of all time, with Kwarteng receiving 54% of responses.

Both Reform UK and Stack BTC were approached for comment.