Key Highlights
- Nigel Farage received about £5 million from crypto billionaire Christopher Harborne in 2024 before announcing his Clacton election run.
- Farage says the money was for personal security after past attacks, but political parties are questioning whether it was linked to politics.
- The donation has sparked investigations and wider debate in the UK about crypto-linked political funding and transparency rules.
Reform UK leader Nigel Farage received about £5 million (around $6.7 million) from crypto billionaire and Tether stakeholder Christopher Harborne in 2024, just before he announced his run for the Clacton parliamentary seat.
The payment, now confirmed by Farage, has drawn political scrutiny in the United Kingdom, according to The Guardian report. The timing is notable, as the gift was made before Farage officially returned to frontline politics and before his election win in July 2024.
Farage confirmed the payment in an interview with the Daily Telegraph, saying it was meant to fund his personal safety after past incidents, including a milkshake being thrown at him and a firebomb attack on his home.
He said, “This money was given to me so that I would be safe and secure for the rest of my life.” He added that he had tried and failed to get state-funded protection and believed he would not receive it going forward.
Crypto billionaire behind the donation
Christopher Harborne, the donor, is a Thailand-based businessman with a reported 12% stake in Tether, a major stablecoin issuer in the crypto industry. The payment has attracted attention due to Harborne’s broader involvement in UK politics, including significant donations to Reform UK and earlier financial support linked to Brexit-era political campaigns.
Reform UK described the £5 million as a “personal, unconditional gift,” stating that it was not connected to politics or Farage’s decision to stand for election. The party maintains that the payment complied with all relevant rules and disclosure requirements.
Calls for investigation
Rival political parties disagree with this. Members of the Conservative Party have reportedly referred the matter to the Parliamentary Standards Commissioner, Daniel Greenberg, requesting an investigation into where the money was used for political activity instead of only personal use.
Labour chair Anna Turley also accused Farage of breaking parliamentary rules, citing requirements that MPs must register benefits received within 12 months of taking office.
Under the UK parliamentary code, any benefit received before becoming an MP must be declared if there is uncertainty about its purpose. The rules also state that such benefits should be registered if there is doubt about whether they are personal or political. Reform UK insists the donation falls under an exemption for personal gifts.
Broader concerns over crypto-linked funding
Harborne has continued to play a key role in UK political funding, donating £9 million to Reform UK in 2025, marking one of the largest political donations in the country from a living individual. Separately, BitMEX co-founder Ben Delo has also donated millions to the party, adding to concerns about crypto-linked political funding.
Farage and Harborne have a long-standing political relationship, with previous donations including £10 million to the Brexit Party in 2019. Harborne, who has also used the name Chakrit Sakunkrit, primarily resides in Thailand while maintaining global business interests tied to crypto assets.
The £5 million donation has now become part of a wider debate in UK politics about transparency and how political donations are monitored and recorded under current law.
Also Read: Circle Introduces Nanopayments System for Ultra-Small USDC Transfers
