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. This donation has sparked controversy, with the Conservative party referring Farage to the Parliamentary Standards Commissioner and Labour accusing him of violating House of Commons rules. Farage has confirmed the donation, stating it was intended to ensure his safety and security after previous incidents, including a milkshake attack in 2019 and a firebomb incident at his home last year. The donation was made by Harborne, who holds a 12% stake in Tether, a stablecoin issuer, and was given before Farage's election to the Clacton seat. A Reform UK spokesperson has defended the donation, describing it as a 'personal unconditional gift' that was provided before Farage's election and is unrelated to his decision to run for office. The spokesperson expressed confidence that all necessary declarations have been made in accordance with the rules. However, the Commons code of conduct requires new MPs to register benefits received in the 12 months preceding their election, and any benefits that raise doubts should be registered. The Conservative party has written to the Parliamentary Standards Commissioner, requesting an examination into whether the donated funds were used to support political activities rather than security. Labour chair Anna Turley has also criticized Farage, stating that he 'appears to have broken the rules again.' This controversy comes amid a larger discussion about crypto donations in UK politics, with Harborne having made a record-breaking £9 million donation to Reform UK last year. Additionally, BitMEX co-founder Ben Delo has donated £4 million to Reform UK since the start of the year. In response to concerns about the potential for foreign money to influence UK politics through crypto donations, the UK government has imposed a moratorium on such donations, which will be written into the Representation of the People Bill with criminal penalties for non-compliance. Farage has also invested in a London-listed bitcoin treasury company, further highlighting the intersection of cryptocurrency and UK politics.