TechFlow News, April 30: According to CoinDesk, Nigel Farage, leader of the UK’s Reform UK party, is facing a review by the Parliamentary Standards Commissioner after reportedly receiving an undisclosed £5 million (approximately $6.7 million) grant from cryptocurrency billionaire Christopher Harborne—prior to his election as a Member of Parliament in 2024. Harborne resides in Thailand and holds a 12% stake in stablecoin issuer Tether.
Farage stated that the grant was intended solely to ensure his personal security—not for political activities. However, both the Conservative Party and the Labour Party have accused him of violating House of Commons rules requiring MPs to register any income received within the 12 months preceding their election, and have referred the matter to the Parliamentary Standards Commissioner for investigation. Reform UK countered that the payment constitutes a “personal, unconditional gift” exempt from disclosure and unrelated to elections.
The UK government announced in March this year a suspension of political donations in cryptocurrency by parties, aimed at preventing foreign interference. Previously, Christopher Harborne donated £9 million to Reform UK—the largest single political donation ever made by a living individual in the UK. This year, Ben Delo, co-founder of BitMEX, also donated £4 million to the party. Additionally, Farage himself holds a 6.31% stake in Stack BTC, a Bitcoin treasury company.
