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

According to a recent report, Nigel Farage, the leader of Reform UK, received a substantial donation of approximately £5 million, equivalent to around $6.7 million, from Christopher Harborne, a billionaire with significant ties to the cryptocurrency company Tether. This donation was made prior to Farage's announcement to run for the Clacton seat in the 2024 election. The Conservative Party has since referred Farage to the Parliamentary Standards Commissioner, while the Labour Party has also accused him of violating House of Commons rules by not disclosing the gift. Farage has confirmed the donation, stating it was intended to ensure his safety and security following past incidents, including a milkshake attack in 2019 and a firebomb incident at his home last year. Harborne, who holds a 12% stake in Tether, made the donation in 2024, before Farage's successful election to the Clacton seat. A Reform UK spokesperson described the payment as a 'personal unconditional gift' that was made before Farage's election and was unrelated to his decision to run as an MP. The spokesperson expressed confidence that all necessary declarations had 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 benefit should be registered if there is doubt. The Conservative Party has requested that the Parliamentary Standards Commissioner investigate whether any of the donated funds were used to support political activities rather than personal security. Labour Party chair Anna Turley has stated that Farage 'appears to have broken the rules again.' The issue of cryptocurrency donations has been a subject of concern in UK politics, with Harborne having made a record-breaking donation of £9 million to Reform UK late last year. Another significant donation was made by BitMEX co-founder Ben Delo, who contributed £4 million to Reform UK since the start of the year. In response to these developments, the UK government has imposed a moratorium on crypto donations to political parties, citing the risk of foreign money being channeled into UK politics through digital assets. The ban on crypto donations will be incorporated into the Representation of the People Bill, with penalties for non-compliance. Additionally, Farage has invested £215,000 in Stack BTC, a London-listed bitcoin treasury company, taking a 6.31% stake through his investment vehicle.