**Prince Andrew Faces Fresh Controversy Over Buckingham Palace Visit Linked to Failed £1.4 Million Crypto Deal**
Prince Andrew is once again at the center of controversy following revelations that he hosted a private visit to Buckingham Palace for cryptocurrency businessmen. The visit is connected to a failed £1.4 million deal involving his ex-wife, Sarah Ferguson, raising significant questions about his use of royal privileges for private business dealings, according to a BBC investigation.
### Prince Andrew Welcomes Crypto Executives at Buckingham Palace
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 event took place while Queen Elizabeth II was present, intensifying scrutiny over 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 launch a large-scale Bitcoin mining operation powered by solar energy in Arizona. However, the project quickly unraveled, causing significant financial losses for investors.
### Failed Bitcoin Mining Project and Financial Losses
Court documents revealed that Pegasus Group Holdings purchased only a fraction of the planned equipment, producing minimal Bitcoin output. The ambitious project failed to meet its objectives, leaving many investors out of pocket.
Sarah Ferguson, who acted as a brand ambassador for Pegasus, reportedly received over £200,000. Her contract included a potential £1.2 million bonus and shares, along with perks such as first-class travel and five-star accommodations. Despite these benefits, she was not responsible for the technical aspects of the project.
### Renewed Concerns over Royal Financial Entanglements
This incident has reignited concerns about the financial entanglements of Prince Andrew and Sarah Ferguson, particularly regarding how their royal status may have intersected with private business ventures.
In response, Buckingham Palace has confirmed that measures are being taken to strip Prince Andrew of his remaining royal titles and his residence at Windsor.
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**UK Cryptocurrency ETN Market Sees Fee War After FCA Lifts Retail Ban**
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, enabling everyday investors to purchase 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 including Bitwise and 21Shares have reduced their fees, while Fidelity, Invesco, and BlackRock have introduced temporary discounts. CoinShares remains a market leader by offering zero management fees, offsetting costs through staking rewards.
The London Stock Exchange has witnessed a surge in trading volumes, with daily Bitcoin ETN turnover rising significantly.
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The developments surrounding Prince Andrew and the shifting UK crypto ETN landscape highlight ongoing intersections between finance, regulation, and public interest in the UK.
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