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

According to The Guardian, Nigel Farage, the leader of Reform UK, received a substantial donation of approximately £5 million, equivalent to around $6.7 million, from Christopher Harborne, a billionaire with ties to the cryptocurrency company Tether, prior to announcing his candidacy for the Clacton seat in 2024. This has led to accusations from the Conservative and Labour parties that Farage breached Commons rules by failing to declare the gift. In response, Farage confirmed the donation in an interview, stating it was intended to ensure his safety and security after facing previous attacks. Harborne, who holds a 12% stake in Tether, made the donation in 2024, before Farage's election to the Clacton seat. A spokesperson for Reform UK defended the donation, describing it as a 'personal unconditional gift' unrelated to Farage's decision to run for office, and asserted that all necessary declarations had been made in accordance with the rules. The Commons code of conduct requires MPs to register benefits received in the 12 months preceding their election, and the Conservative Party has requested an investigation into whether the funds were used for political purposes rather than security. The controversy surrounding crypto donations has sparked a government-imposed moratorium on such donations to political parties, citing concerns over the potential for foreign money to influence UK politics.