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

According to a report by The Guardian, Nigel Farage, the leader of Reform UK, received a substantial gift of approximately £5 million, equivalent to $6.7 million, from Christopher Harborne, a billionaire with significant ties to the cryptocurrency firm Tether. This donation was made prior to Farage's announcement to run for the Clacton seat in the 2024 election. The Conservative Party has referred Farage to the Parliamentary Standards Commissioner, while the Labour Party has also alleged that he has violated House of Commons regulations. Farage has confirmed the donation, stating it was intended to ensure his safety and security following a series of incidents, including a milkshake being thrown at him and a firebomb attack on his residence. Harborne, who holds a 12% stake in Tether, made the donation in 2024, before Farage's candidacy was announced. A spokesperson for Reform UK has described the payment as a 'personal unconditional gift' that was made before Farage's election and is unrelated to his decision to stand as an MP. The spokesperson expressed confidence that all necessary declarations have 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 security. Labour chair Anna Turley has stated that Farage 'appears to have broken the rules again.' Additionally, Harborne has made a significant donation of £9 million to Reform UK, and Ben Delo, co-founder of BitMEX, has also donated £4 million to the party. In response to concerns about the potential for digital assets to be used to channel foreign money into UK politics, the UK government has imposed a moratorium on crypto donations to political parties, with criminal penalties for non-compliance. Farage has also invested £215,000 in Stack BTC, a London-listed bitcoin treasury company.