Nigel Farage Under Investigation for $6.7 Million Donation from Tether Billionaire

According to a report by The Guardian, Nigel Farage, the leader of Reform UK, received a significant donation of approximately £5 million (around $6.7 million) from Christopher Harborne, a billionaire with ties to the cryptocurrency company Tether, prior to announcing his candidacy for the Clacton seat in 2024. The donation has sparked controversy, with both the Conservative and Labour parties arguing that Farage failed to disclose the gift in accordance with House of Commons rules. Farage has confirmed the donation, stating that it was intended to ensure his safety and security after facing threats, including a milkshake attack in 2019 and a firebomb incident at his home last year. Harborne, who has a 12% stake in Tether, made the donation 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 candidacy and was unrelated to his decision to run for office. The spokesperson added that the party is confident that all necessary declarations have been made in accordance with the rules. However, the Conservative Party has referred the matter to the Parliamentary Standards Commissioner, and Labour has accused Farage of breaking the rules. The Commons code of conduct requires new MPs to register any benefits received in the 12 months preceding their election, and Reform UK's claim that the donation falls under the exemption for personal gifts is being scrutinized. The controversy surrounding the donation has highlighted concerns about the influence of cryptocurrency donations in U.K. politics, particularly in the wake of a recent moratorium on such donations imposed by the U.K. government due to concerns about the potential for foreign money to be channeled into U.K. politics through digital assets.