Jai Patel, CEO of a bitcoin company previously championed by Nigel Farage and recently relaunched as Stack BTC, has announced his resignation from the firm.

A company co-founded by Nigel Farage and Kwasi Kwarteng, Stack BTC, is under scrutiny for having only one non-executive director, an oil tycoon, overseeing its board.

Nigel Farage, leader of Reform UK, has acquired a £215,000 stake in Stack BTC, a Bitcoin business co-founded by former Tory chancellor Kwasi Kwarteng, further strengthening his ties with the crypto sector.