Prince Andrew reportedly arranged a private tour of Buckingham Palace for two U.S. businessmen involved in a failed cryptocurrency mining venture that had agreed to pay his ex-wife, Sarah Ferguson, up to £1.4 million, according to a BBC investigation.
Key Takeaways:
Prince Andrew arranged a private Buckingham Palace visit for crypto businessmen tied to a failed £1.4M deal with his ex-wife, Sarah Ferguson. Ferguson earned over £200,000 from Pegasus Group Holdings, whose Bitcoin mining venture collapsed. The revelations come as Buckingham Palace moves to strip him of remaining royal titles.The meeting took place in June 2019 while Queen Elizabeth II was in residence, raising fresh questions about Andrew’s use of royal privileges for private 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, were chauffeured through the palace gates in the Duke of York’s car before attending Andrew’s Pitch@Palace business event later that day.
Ferguson, who was employed by Pegasus as a “brand ambassador,” joined the pair for dinner that evening with Andrew and their daughter, Princess Beatrice.
Pegasus claimed to be building a large-scale Bitcoin mining operation powered by solar energy in the Arizona desert, but the project collapsed within a year, leaving investors millions out of pocket.
Court filings later revealed that only 615 of 16,000 planned generators were ever purchased, producing just £25,000 worth of Bitcoin.
US investors eventually won a $4.1 million arbitration award after accusing the company of misusing funds, a ruling Bloom is appealing.
Documents obtained by the BBC show Ferguson was paid more than £200,000 for her work with Pegasus, with a contract entitling her to an additional £1.2 million bonus and shares in the firm.
Her agreement required first-class travel, five-star accommodation, and professional styling services but stated she bore no responsibility for the company’s technical claims.
The revelations reignite concerns about Andrew and Ferguson’s financial ties and the blurred lines between their royal status and private 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 past associations, including his links to Jeffrey Epstein.
Pegasus co-founder Bloom denied meeting the late Queen during his palace visit but 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 decision, effective October 8, allows everyday investors to buy Bitcoin and Ethereum-linked ETNs through tax-free accounts such as ISAs, marking a major shift in the UK’s regulatory approach to digital assets.
The move triggered immediate fee cuts across major issuers. Bitwise slashed its Core Bitcoin ETP fee from 0.2% to 0.05%, while 21Shares lowered its Bitcoin and Ethereum products to 0.1%.
Fidelity, Invesco, and BlackRock joined the fray with temporary discounts, and CoinShares continued to lead the ether market by offering zero management fees, offset through staking rewards.
Trading volumes on the London Stock Exchange surged following the policy change, with daily Bitcoin ETN turnover rising from $2.1 million to $7.2 million.
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