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 crypto billionaire Christopher Harborne prior to announcing his candidacy for the Clacton seat in 2024. The Conservatives and Labour have raised concerns that Farage failed to declare this gift, alleging a breach of House of Commons rules. However, Reform UK maintains that the donation was an exempt, personal, and unconditional gift. The payment was made by Harborne, who holds a 12% stake in Tether, a stablecoin issuer, in 2024, before Farage's election to the Clacton seat. Farage has confirmed the donation, stating it was intended to ensure his safety and security. A spokesman for Reform UK has expressed confidence that all necessary declarations have been made in accordance with the rules, citing the exemption for personal gifts. The Commons code of conduct requires new MPs to register benefits received in the 12 months preceding their election. The Conservative Party has requested an investigation into whether the funds were used for political activities rather than security, while Labour has accused Farage of breaking the rules again. This controversy arises amidst a larger debate 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 influence UK politics.