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 (around $6.7 million) from crypto billionaire Christopher Harborne prior to his announcement to run for the Clacton seat in 2024. This has led to accusations from the Conservative and Labour parties that Farage has broken House of Commons rules by not declaring the gift. In response, a Reform UK spokesperson described the payment as a 'personal unconditional gift' that was given before Farage's election and stated that his decision to stand as an MP was 'entirely unrelated'. The Commons code of conduct requires new MPs to register benefits received in the 12 months before their election. The gift from Harborne, who has a 12% stake in Tether, has sparked a probe into whether Farage has adhered to these rules. The Conservative Party has referred the matter to the Parliamentary Standards Commissioner, while Labour has also voiced concerns that Farage appears to have broken the rules again. This development comes amid a broader discussion on crypto donations in UK politics, with Harborne having made a record-breaking donation of £9 million to Reform UK 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 be channeled into UK politics via digital assets.