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

Reform UK leader Nigel Farage has come under fire for receiving a substantial donation of approximately £5 million, equivalent to around $6.7 million, from cryptocurrency billionaire Christopher Harborne prior to his 2024 Clacton seat election announcement, as reported by The Guardian. The Conservatives have referred the matter to the Parliamentary Standards Commissioner, while Labour has also accused Farage of violating House of Commons rules. In an interview with the Daily Telegraph, Farage acknowledged the gift, stating it was intended to ensure his safety and security following a series of incidents, including a milkshake attack in 2019 and a firebomb attack on his home last year. Harborne, who holds a 12% stake in Tether, made the payment in 2024, before Farage announced his candidacy for the Clacton seat, which he won in July. A Reform UK spokesperson characterized the payment as a 'personal unconditional gift' unrelated to Farage's decision to run for office, adding that the party is confident all necessary declarations have been made in accordance with the rules. The Commons code of conduct requires new MPs to register benefits received within the 12 months preceding their election, with any doubts necessitating registration. However, Reform claims the gift is exempt as a purely personal donation. The Conservative Party has requested that Parliamentary Standards Commissioner Daniel Greenberg investigate whether any of the funds were utilized to support political activities rather than security. Labour chair Anna Turley stated that Farage 'appears to have broken the rules again.' This development comes amidst a broader discussion on crypto donations in UK politics, with Harborne having made a record-breaking £9 million donation to Reform late last year. Earlier this month, BitMEX co-founder Ben Delo disclosed donating £4 million to Reform since the start of the year. In response to concerns over 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, effective immediately, with plans to codify this ban into the Representation of the People Bill, accompanied by criminal penalties for non-compliance. Furthermore, Farage has invested £215,000 in Stack BTC, a London-listed bitcoin treasury company, acquiring a 6.31% stake through his investment vehicle Thorn In The Side.