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

According to a recent report, Reform UK leader Nigel Farage accepted a substantial gift of approximately £5 million, equivalent to around $6.7 million, from crypto billionaire Christopher Harborne prior to announcing his candidacy for the Clacton seat in 2024. The gift has sparked controversy, with the Conservative party referring Farage to the Parliamentary Standards Commissioner and Labour accusing him of violating House of Commons rules. Farage has confirmed the donation, stating it was intended to ensure his safety and security following previous 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 payment in 2024, before Farage's election victory in July. A Reform UK spokesperson has defended the payment, describing it as a 'personal unconditional gift' that was unrelated to Farage's decision to run for office. 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 disclose benefits received in the 12 months preceding their election, and the Conservative party has requested an investigation into whether the funds were used for political purposes rather than security. The Labour party has also criticized Farage, with chair Anna Turley stating that he 'appears to have broken the rules again.' The issue has raised concerns about crypto donations in UK politics, with Harborne having made a record-breaking £9 million donation to Reform UK last year. The UK government has since imposed a moratorium on crypto donations to political parties, citing concerns about the potential for foreign money to be channeled into UK politics. The ban, which will be incorporated into the Representation of the People Bill, carries criminal penalties for non-compliance. Meanwhile, Farage has invested £215,000 in a London-listed bitcoin treasury company, taking a 6.31% stake through his investment vehicle.