Nigel Farage Under Investigation for Receiving $6.7 Million Gift from Tether Billionaire

According to a report by The Guardian, Reform UK leader Nigel Farage received approximately £5 million (around $6.7 million) from Christopher Harborne, a billionaire associated with Tether, prior to announcing his candidacy for the Clacton seat in 2024. The Conservatives have referred the matter to the Parliamentary Standards Commissioner, and Labour has also accused Farage of violating House of Commons rules. Farage acknowledged the gift in an interview, stating it was intended to provide for his safety and security after facing previous attacks. Harborne, who holds a 12% stake in Tether, made the payment in 2024, before Farage's election. A Reform UK spokesperson described the payment as a personal and unconditional gift, unrelated to Farage's decision to run for office, and expressed confidence that all necessary declarations have been made in accordance with the rules. 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 examination into whether the funds were used for political activities rather than security, while Labour has accused Farage of breaking the rules again. This development comes amid a growing trend of crypto donations in U.K. politics, with Harborne having donated £9 million to Reform last year and BitMEX co-founder Ben Delo donating £4 million since the start of the year. In response to concerns about the potential for foreign money to influence U.K. politics through digital assets, the government has imposed a moratorium on crypto donations to political parties, 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, taking a 6.31% stake.