**Prince Andrew Faces Renewed Controversy Over Cryptocurrency Business Ties**
Prince Andrew is once again at the center of controversy following revelations that he hosted a private visit to Buckingham Palace for cryptocurrency businessmen. This visit is linked to a failed £1.4 million deal involving his ex-wife, Sarah Ferguson, raising significant questions about the use of royal privileges for private business dealings, according to an investigation by the BBC.
The businessmen in question, Jay Bloom and Michael Evers, co-founders of the Arizona-based Pegasus Group Holdings, were granted access to Buckingham Palace in June 2019. This occurred while Queen Elizabeth II was present, intensifying scrutiny over Prince Andrew’s actions.
Bloom and Evers attended Andrew’s Pitch@Palace business event and later dined with Sarah Ferguson and their daughter, Princess Beatrice. Pegasus Group Holdings had promised to establish a large-scale Bitcoin mining operation powered by solar energy in Arizona. However, the project quickly unraveled, resulting in significant financial losses for investors.
Court documents revealed that the company purchased only a fraction of the planned equipment, producing minimal Bitcoin. Sarah Ferguson, who served as a brand ambassador for Pegasus, reportedly received over £200,000. Her contract also promised an additional £1.2 million bonus and shares, along with luxuries such as first-class travel and five-star accommodations. Despite this, she bore no responsibility for the project’s technical aspects.
This incident has reignited concerns about the financial entanglements of Prince Andrew and Sarah Ferguson, and the intersection of their royal status with private business ventures. Buckingham Palace has since confirmed that steps are being taken to strip Andrew of his remaining titles and his residence at Windsor.
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**UK Crypto ETN Fee War Erupts After Regulator Reopens Retail Access**
In related financial news, the UK crypto exchange-traded note (ETN) market has experienced a significant shift. The Financial Conduct Authority (FCA) recently lifted a four-year ban on retail participation, allowing everyday investors to buy Bitcoin and Ethereum-linked ETNs through tax-free accounts such as ISAs.
This regulatory change, effective from October 8, has sparked a price war among ETN issuers. Major players like Bitwise and 21Shares have reduced fees, while Fidelity, Invesco, and BlackRock have offered temporary discounts. CoinShares remains a leader by offering zero management fees, balancing costs through staking rewards.
As a result, the London Stock Exchange has witnessed a surge in trading volumes, with daily Bitcoin ETN turnover increasing significantly.
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The developments surrounding Prince Andrew’s connections to cryptocurrency businessmen and the evolving UK crypto ETN market highlight ongoing tensions between regulation, finance, and royal influence.
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