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

According to a report by The Guardian, Nigel Farage, the leader of Reform UK, received a substantial donation of approximately £5 million, equivalent to around $6.7 million, from cryptocurrency billionaire Christopher Harborne prior to announcing his candidacy for the Clacton seat in 2024. The Conservative and Labour parties have raised concerns that Farage may have breached House of Commons rules by not declaring this gift. Farage has acknowledged the donation, stating it was intended to ensure his safety and security following previous incidents, including a milkshake attack in 2019 and a firebomb incident at his home last year. 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 has defended the donation, describing it as a personal and unconditional gift that was made before Farage's election and was unrelated to his decision to run as an MP. The Commons code of conduct requires new MPs to disclose any benefits received in the 12 months preceding their election, and Reform UK is confident that the gift falls under the exemption for personal donations. However, the Conservative Party has referred the matter to the Parliamentary Standards Commissioner, and Labour has accused Farage of breaking the rules. This controversy comes amidst a broader discussion on cryptocurrency donations in UK politics, with Harborne having made a record-breaking donation of £9 million to Reform UK late last year, and the UK government imposing a moratorium on crypto donations to political parties in March due to concerns about the potential for foreign money to influence UK politics.