Nigel Farage Under Investigation for Alleged Breach of Commons Rules Over $6.7 Million Donation

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 Christopher Harborne, a billionaire investor in Tether, prior to announcing his candidacy for the Clacton seat in 2024. This donation has sparked controversy, with both the Conservative and Labour parties accusing Farage of violating House of Commons rules by not declaring the gift. Farage has confirmed the donation, stating it was intended to ensure his safety and security after facing 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 the stablecoin issuer Tether, in 2024, before Farage's election to the Clacton seat. A spokesperson for Reform UK has defended the donation, describing it as a 'personal unconditional gift' that was made 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 any benefits received in the 12 months preceding their election, and any benefit should be registered if there is doubt. The Conservative Party has referred the matter to the Parliamentary Standards Commissioner, Daniel Greenberg, to investigate whether any of the donated funds were used for political activities rather than security. Labour chair Anna Turley has also accused Farage of 'appearing to have broken the rules again.' The issue of crypto donations has become increasingly prominent in UK politics, with Harborne having made a record-breaking donation of £9 million to Reform UK last year. Additionally, Ben Delo, co-founder of BitMEX, recently disclosed that he had donated £4 million to Reform UK since the start of the year. In response to concerns about the potential for digital assets to be used to channel foreign funds into UK politics, the UK government has imposed a moratorium on crypto donations to political parties, with the ban set to be written into the Representation of the People Bill and carrying criminal penalties for non-compliance. Farage has also invested £215,000 in Stack BTC, a London-listed bitcoin treasury company, taking a 6.31% stake through his investment vehicle Thorn In The Side.