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

Nigel Farage, the leader of Reform UK, has been accused of failing to declare a £5 million gift from crypto billionaire Christopher Harborne, prompting an investigation by the Parliamentary Standards Commissioner. The gift, which is approximately $6.7 million, was reportedly made before Farage announced his candidacy for the Clacton seat in 2024. Farage has confirmed the donation, stating it was intended to ensure his safety and security after previous incidents, including a milkshake attack and a firebombing at his home. Harborne, who has a 12% stake in Tether, made the payment in 2024, prior to Farage's election. Reform UK has defended the gift, calling it a 'personal unconditional gift' that is exempt from disclosure. However, both the Conservative and Labour parties have raised concerns, with Labour claiming that Farage has 'broken the rules again.' The Commons code of conduct requires new MPs to register benefits received in the 12 months preceding their election, and Reform UK is confident that they have complied with the rules. The investigation comes amid a broader debate about crypto donations in UK politics, with the government recently imposing a moratorium on such donations due to concerns about foreign influence. Other notable crypto donations include a £9 million gift from Harborne to Reform UK and a £4 million donation from BitMEX co-founder Ben Delo. Farage has also invested in a London-listed bitcoin treasury company, taking a 6.31% stake.