Chief Executive Exits Rebranded Bitcoin Firm Backed by Nigel Farage and Kwasi Kwarteng

Stack BTC CEO Jai Patel resigns following the company's rebranding. Nigel Farage and Kwasi Kwarteng remain key backers of the previously liquidated firm.

By: AXL Media

Published: Apr 16, 2026, 9:56 AM EDT

Source: Information for this report was sourced from Left Foot Forward

Leadership Reshuffle at High Profile Crypto Venture

Jai Patel has announced his departure as chief executive of Stack BTC, a cryptocurrency firm that has recently gained notoriety for its ties to prominent political figures. The exit comes shortly after Nigel Farage, the leader of Reform UK, invested £215,000 in the company and began serving as a primary brand ambassador. Patel originally founded the entity in 2021 before its recent rebranding and shift in strategic focus toward becoming a bitcoin treasury and venture capital operation.

The Financial Collapse of Kasei Holdings

Before its current iteration, the company operated as Kasei Holdings PLC, which faced total liquidation last year. According to corporate records, the firm suffered from an inability to raise necessary capital and was battered by adverse market conditions. It was only in March of this year that the business was resurrected as Stack BTC, following a period where Direct Bullion owner Paul Withers brought new stakeholders onto the board to facilitate a corporate pivot.

Political Heavyweights Join the Shareholder Registry

The rebranding effort saw the introduction of former Chancellor Kwasi Kwarteng and Nigel Farage as significant shareholders. Farage's involvement follows a lucrative professional relationship with Withers, who reportedly paid the politician £400,000 to promote gold bullion products in 2025. In recent promotional footage, Farage was depicted purchasing approximately £2 million in Bitcoin on behalf of the firm, signaling a deep integration between his political brand and the company's marketing strategy.