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Prince Andrew Hosted Crypto Businessmen at Buckingham Palace in £1.4M Deal: BBC

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Prince Andrew reportedly organized a non-public tour of Buckingham Palace for 2 U.S. businessmen concerned in a failed cryptocurrency mining enterprise that had agreed to pay his ex-wife, Sarah Ferguson, as much as £1.4 million, according to a BBC investigation.

Key Takeaways:

  • Prince Andrew organized a non-public Buckingham Palace go to for crypto businessmen tied to a failed £1.4M cope with his ex-wife, Sarah Ferguson.
  • Ferguson earned over £200,000 from Pegasus Group Holdings, whose Bitcoin mining enterprise collapsed.
  • The revelations come as Buckingham Palace strikes to strip him of remaining royal titles.

The assembly occurred in June 2019 whereas Queen Elizabeth II was in residence, elevating recent questions on Andrew’s use of royal privileges for personal dealings.

Prince Andrew Welcomed Crypto Executives Linked to £1.4M Deal at Palace Event

The businessmen, Jay Bloom and Michael Evers, co-founders of the Arizona-based Pegasus Group Holdings, have been chauffeured by way of the palace gates in the Duke of York’s automobile earlier than attending Andrew’s Pitch@Palace enterprise occasion later that day.

Ferguson, who was employed by Pegasus as a “model ambassador,” joined the pair for dinner that night with Andrew and their daughter, Princess Beatrice.

Pegasus claimed to be constructing a large-scale Bitcoin mining operation powered by photo voltaic power in the Arizona desert, however the mission collapsed inside a 12 months, leaving traders tens of millions out of pocket.

Court filings later revealed that solely 615 of 16,000 deliberate turbines have been ever bought, producing simply £25,000 price of Bitcoin.

US traders ultimately received a $4.1 million arbitration award after accusing the corporate of misusing funds, a ruling Bloom is interesting.

Documents obtained by the BBC present Ferguson was paid greater than £200,000 for her work with Pegasus, with a contract entitling her to a further £1.2 million bonus and shares in the agency.

Her settlement required first-class journey, five-star lodging, {and professional} styling providers however acknowledged she bore no duty for the corporate’s technical claims.

The revelations reignite issues about Andrew and Ferguson’s monetary ties and the blurred traces between their royal standing and personal ventures.

Buckingham Palace confirmed on Thursday that formal steps are underway to strip Andrew of his remaining titles and his Windsor residence amid ongoing scrutiny of his previous associations, together with his hyperlinks to Jeffrey Epstein.

Pegasus co-founder Bloom denied assembly the late Queen throughout his palace go to however admitted thanking Andrew and Ferguson for arranging the tour.

UK Crypto ETN Fee War Erupts After Regulator Reopens Retail Access

As reported, a price war has broken out among UK crypto exchange-traded note (ETN) issuers after the Financial Conduct Authority (FCA) lifted its four-year ban on retail participation.

The resolution, efficient October 8, permits on a regular basis traders to purchase Bitcoin and Ethereum-linked ETNs by way of tax-free accounts corresponding to ISAs, marking a significant shift in the UK’s regulatory strategy to digital property.

The transfer triggered quick price cuts throughout main issuers. Bitwise slashed its Core Bitcoin ETP price from 0.2% to 0.05%, whereas 21Shares lowered its Bitcoin and Ethereum merchandise to 0.1%.

Fidelity, Invesco, and BlackRock joined the fray with non permanent reductions, and CoinShares continued to guide the ether market by providing zero administration charges, offset by way of staking rewards.

Trading volumes on the London Stock Exchange surged following the coverage change, with each day Bitcoin ETN turnover rising from $2.1 million to $7.2 million.

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