Nigel Farage Under Scrutiny for $6.7 Million Donation from Tether Billionaire

According to a recent report by The Guardian, Nigel Farage, the leader of Reform UK, received a substantial gift of approximately £5 million (around $6.7 million) from Christopher Harborne, a billionaire associated with the crypto firm Tether, prior to announcing his candidacy for the Clacton seat in 2024. The Conservative Party has referred Farage to the Parliamentary Standards Commissioner, while the Labour Party has also accused him of violating House of Commons rules. Farage acknowledged the gift in an interview, stating it was intended to ensure his safety and security following past incidents, including a milkshake attack in 2019 and a firebomb attack on his home. Harborne, who holds a 12% stake in Tether, made the payment in 2024, before Farage's election victory. A Reform UK spokesperson described the payment as a 'personal, unconditional gift' unrelated to Farage's decision to run for office, and expressed confidence that all necessary declarations have been made in accordance with the rules. However, the Commons code of conduct requires new MPs to register benefits received in the 12 months preceding their election, and the Conservative Party has requested an examination into whether the funds were used for political purposes rather than security. Labour Party chair Anna Turley has stated that Farage appears to have broken the rules once again. This incident comes amid growing scrutiny of crypto donations in UK politics, with Harborne having made a record-breaking £9 million donation to Reform UK late last year. The UK government has since imposed a moratorium on crypto donations to political parties, citing concerns over the potential for foreign money to influence UK politics.