What happened?
Prince Andrew reportedly hosted two US crypto businessmen at Buckingham Palace while his ex-wife, Sarah Ferguson served as a paid brand ambassador for their Pegasus Group. Pegasus promised a large solar‑powered Bitcoin mining project that collapsed within a year, with only a tiny fraction of the planned equipment ever bought and investors left out of pocket. Court documents show Ferguson received over £200,000 with a contract entitling her to up to £1.4m, and Buckingham Palace is now taking steps to strip Andrew of remaining titles amid the fallout.
Who does this affect?
The story damages the reputations of Prince Andrew and Sarah Ferguson and raises concerns about the use of royal connections in private deals. It directly impacts Pegasus investors — US claimants won a $4.1m arbitration award — and anyone who relied on the company’s technical or financial claims. Broader stakeholders include the royal household, UK regulators, and retail crypto investors who may face increased skepticism and scrutiny of celebrity‑linked projects.
Why does this matter?
It undermines trust in celebrity‑branded crypto ventures, making investors more cautious and damaging fundraising prospects for similar startups. At the same time, the UK has just reopened retail access to crypto ETNs, triggering a fee war and a surge in trading volumes, so regulatory scrutiny could collide with rising retail demand. The likely market outcome is more volatility, tougher compliance for crypto firms, and a shift toward lower‑cost, regulated products as investors move away from risky, high‑profile schemes.