Ex-UK Chancellor backs bitcoin as alternative to failing systems

Kwasi Kwarteng reflects on current UK market turmoil, fiscal “doom loop,” and his move into bitcoin with Stack BTC. What to know : Kwasi Kwarteng served as UK chancellor for just weeks in September 2022, capping a 14-year political career that included senior Cabinet roles. Kwateng said the mini-budget was “very, very rushed,” and its rollout sent gilt yields sharply higher while exposing the UK’s LDI pension crisis. Kwateng is now involved with Stack BTC, a UK bitcoin treasury firm, where Reform UK leader Nigel Farage has taken a 6% stake.