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 Christopher Harborne, a billionaire with significant ties to the cryptocurrency company Tether. This donation was made prior to Farage's announcement to run for the Clacton seat in the 2024 election. The Conservative Party has referred Farage to the Parliamentary Standards Commissioner, alleging that he failed to declare the gift in accordance with House of Commons rules. Labour has also voiced concerns, stating that Farage appears to have breached the rules once again. Farage has confirmed the donation, stating it was intended to ensure his safety and security following a series of 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 successful election to the Clacton seat. Reform UK has defended the donation, characterizing it as a personal and unconditional gift that is exempt from disclosure requirements. The party's spokesman expressed confidence that all necessary declarations have been made in accordance with the rules. The Commons code of conduct mandates that new MPs register any benefits received in the 12 months preceding their election, unless the benefit falls under a specific exemption. The Conservative Party has requested that the Parliamentary Standards Commissioner investigate whether any portion of the donation was utilized to support political activities rather than personal security. This development comes amidst growing scrutiny of cryptocurrency 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 about the potential for foreign interference in UK politics.