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

According to The Guardian, Reform UK leader Nigel Farage received a substantial donation of approximately £5 million, equivalent to around $6.7 million, from cryptocurrency billionaire Christopher Harborne prior to announcing his candidacy for the Clacton seat in 2024. This has prompted the Conservative party to refer him to the Parliamentary Standards Commissioner, with Labour also accusing him of breaching House of Commons rules. Farage acknowledged the donation in an interview, stating it was intended to ensure his safety and security after previous incidents. 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' unrelated to Farage's decision to run for office, and expressed confidence that all necessary declarations had 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, and Reform UK claims the gift is exempt as a purely personal donation. The Conservative party has requested an investigation into whether the funds were used for political purposes, while Labour has accused Farage of breaking the rules once again. This controversy comes amidst a broader debate on crypto donations in UK politics, with Harborne having made a record-breaking £9 million donation to Reform UK late last year, and the UK government imposing a moratorium on crypto donations to political parties in March due to concerns over foreign influence.