Prince Andrew Arranged Palace Tour for Crypto Firm That Paid Sarah Ferguson £1.4M

LONDON — Prince Andrew, Duke of York, arranged a highly unusual private tour of Buckingham Palace for two US businessmen from a cryptocurrency mining firm that had agreed to pay his ex-wife, Sarah Ferguson, up to £1.4 million ($1.7 million), the BBC has revealed.

The revelation compounds intense scrutiny over Andrew’s conduct and alleged use of royal connections for private financial gain, coming immediately after Buckingham Palace announced the formal process of stripping him of his royal titles and his Windsor mansion following criticism over his links to Jeffrey Epstein.

In June 2019, Andrew collected Jay Bloom, co-founder of Pegasus Group Holdings, and his colleague Michael Evers from a five-star hotel in his private car and drove them through the gates of Buckingham Palace for a private visit while the late Queen Elizabeth II was in residence.

Pegasus Group Holdings had hired the then-Duchess of York, Sarah Ferguson, as a “brand ambassador” for a Bitcoin mining scheme that ultimately failed less than a year later, losing investors millions.

The Meeting: Both Bloom and Evers were later invited to Andrew’s Pitch@Palace event and dined with Andrew, Ferguson, and Princess Beatrice that evening.

Contested Meeting with the Queen: Evers claims they briefly met the Queen during the palace tour, though Bloom disputes this, later admitting only to meeting a “staffer” and thanking Andrew for arranging the tour. Buckingham Palace was unable to confirm or deny a meeting with the Queen.

At the time of the palace visit, Sarah Ferguson was promoting Pegasus’s plans to use solar power generators for large-scale Bitcoin mining in the Arizona desert.

Financial Terms: Ferguson was reportedly paid over £200,000 for her work and was in line for a separate £1.2 million bonus, in addition to a stake in the company. Her contract stipulated first-class travel, five-star hotels, and professional hair and makeup services for her attendance at networking events.

Project Failure: The crypto scheme was a catastrophic failure, acquiring only 615 of the planned 16,000 generators and mining a mere $33,779 in cryptocurrency.

Legal Action: In 2023, a US tribunal awarded investors $4.1 million after claiming millions in funds were unaccounted for. Bloom is currently appealing the decision.

The scandal deepens concerns regarding how Andrew and Ferguson have funded their lifestyles. Andrew has also received money from Alphabet Capital, the British company that paid Ferguson, including a £60,500 payment traced to its owner, Adrian Gleave. Neither Andrew nor Gleave have provided an explanation for the payment.

Andrew and Sarah Ferguson have not responded to a detailed list of questions regarding their involvement with the failed crypto-mining venture.