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

According to a report by The Guardian, Reform UK leader Nigel Farage 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 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 acknowledged the donation, stating it was intended to ensure his safety and security following previous incidents, including a milkshake being thrown at him and a firebomb attack on his home. Harborne, who holds a 12% stake in Tether, made the donation in 2024, before Farage's successful election to the Clacton seat. 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 a Member of Parliament. 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 any 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, as claimed by Farage. Labour Party chair Anna Turley has stated that Farage appears to have broken the rules again. This development comes amid a growing debate about cryptocurrency donations in UK politics. Harborne had previously made a significant donation of £9 million to Reform UK, and another crypto entrepreneur, Ben Delo, has also made substantial donations to the party. In response to concerns about the potential for foreign money to influence UK politics through cryptocurrency donations, the UK government has imposed a moratorium on such donations and plans to introduce legislation with criminal penalties for non-compliance. Additionally, Farage has invested in a London-listed bitcoin treasury company, further highlighting the complex relationships between cryptocurrency and UK politics.