A previously undisclosed personal gift of roughly £5 million from Christopher Harborne, a billionaire and major stakeholder in Tether, to Nigel Farage has intensified scrutiny over Reform UK's political funding and its ties to the cryptocurrency industry. The revelation comes via a Wednesday report from The Telegraph, citing an interview with Farage.
According to Farage, the money was given to him in 2024 for security costs following threats, a firebombing at his home, and a notorious 2019 incident where he was hit with a flying milkshake. “This money was given to me so that I would be safe and secure for the rest of my life,” Farage stated. The payment was reportedly structured as a personal gift, not a political donation, thereby circumventing official disclosure under UK campaign finance laws.
Harborne, a British citizen, is already Reform UK’s largest financial backer. Filings show he has donated approximately £12 million ($16 million) to the party, exclusive of this latest security gift. Harborne is an early investor in Tether, the world's largest stablecoin issuer, and its affiliated exchange Bitfinex, holding roughly a 12% stake in Tether.
Reform UK has made cryptocurrency and digital assets a central part of its platform. Farage has pitched ambitions for the UK to become a global crypto hub and supports policies that would lower capital gains taxes on crypto. The party was also the first in the UK to accept crypto donations. This latest disclosure follows the UK government’s recent move to ban political donations made in crypto, arguing such contributions could obscure the origin of funds. Prime Minister Keir Starmer said the policy was aimed at “protecting our democracy,” as officials warned that crypto contributions could open the door to foreign influence.
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