**Prince Andrew Faces New Controversy Over Private Buckingham Palace Visit by Cryptocurrency Businessmen**
Prince Andrew has found himself at the center of controversy again following revelations that he hosted a private visit to Buckingham Palace for cryptocurrency businessmen. This 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 Welcomed Crypto Executives Linked to £1.4M Deal at Palace Event**
The businessmen involved, Jay Bloom and Michael Evers, co-founders of the Arizona-based Pegasus Group Holdings, were granted access to the palace in June 2019. This occurred while Queen Elizabeth II was in residence, which has intensified 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 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 and produced minimal Bitcoin.
Sarah Ferguson, who served as a brand ambassador for Pegasus, reportedly received over £200,000. Her contract included an additional £1.2 million bonus and shares, along with luxuries such as first-class travel and five-star accommodations. Despite these benefits, she bore no responsibility for the project’s technical aspects.
**Concerns Over Financial Entanglements and Royal Privileges**
This incident has reignited concerns about the financial entanglements of Prince Andrew and Sarah Ferguson, as well as the intersection of their royal status with private ventures. In response, Buckingham Palace has confirmed that steps are being taken to strip Prince Andrew of his remaining titles and his residence at Windsor Castle.
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**UK Crypto ETN Fee War Erupts Following Regulatory Change**
In related financial news, the UK crypto exchange-traded note (ETN) market has experienced significant shifts. 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 ignited a price war among ETN issuers. Major players like Bitwise and 21Shares have reduced their fees, while Fidelity, Invesco, and BlackRock have offered 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 as daily Bitcoin ETN turnover has increased significantly, reflecting growing retail investor interest.
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*This developing story highlights the ongoing challenges at the intersection of royal influence, private business ventures, and emerging financial markets.*
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