Farage: No Obligation to Declare £5m Gift
Nigel Farage says he had no duty to declare a £5m personal gift from Tether investor Christopher Harborne, calling it an unconditional, nonpolitical payment for his security.
Nigel Farage said he had no duty to report a £5 million ($6.7 million) personal gift from Christopher Harborne, adding that the payment, made in June 2024, was intended to cover his personal security before he stood for Parliament.
Farage told broadcasters the gift was given before he decided to run for the Clacton seat and was meant to pay for protection after past threats, including a firebombing at his home. He said legal advisers had examined the transaction and that he would not refer himself to the Parliamentary Standards Commissioner because there was “no case to answer.” He also stated, “Believe you me, we’ve looked at this from every legal angle” and that “there is no obligation to declare something that is an unconditional, non‑political, personal gift.”
The payment was structured as a personal gift and was not declared under UK campaign finance rules. Conservative MPs have asked Parliamentary Standards Commissioner Daniel Greenberg to investigate whether any portion of the money funded political activity. Labour chair Anna Turley called for scrutiny, saying Farage “appears to have broken the rules again.” Reform UK maintains the gift was exempt from declaration because it was received before Farage intended to stand for Parliament.
Christopher Harborne holds about a 12% stake in the stablecoin issuer Tether and lives in Thailand. He has donated about £12 million to Reform UK, including a £9 million contribution last year. Harborne told supporters he was “not expecting anything in return” for the £5 million and said a legal document described the payment as “unconditional and irrevocable.” Neither Harborne’s donations to Reform UK nor the gift to Farage were made in cryptocurrency.
The disclosure arrives while political donations linked to the crypto sector face increased scrutiny in the UK. A government-commissioned review of foreign financial influence recommended limiting crypto donations, and the government has applied a moratorium on cryptocurrency donations while officials consider further action. Reform UK has been the only major party to accept crypto donations and publicly opposed the moratorium.
Inquiries and party requests for review are ongoing as authorities assess whether any elements of the gift fall within campaign finance rules.
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