Nigel Farage to resign as MP and stand in Clacton by-election

Nigel Farage announced he will resign as the Member of Parliament for Clacton and will contest the by-election after reports that he received millions of dollars in donations and gifts tied to figures in the crypto sector.

He made the announcement on Tuesday in an X livestream and declared, “Let me be absolutely clear: I have done nothing wrong.” He said the resignation responds to what he called “foul means” used by established politicians and gives local voters the chance to judge his actions. He confirmed he is the subject of two separate inquiries by the parliamentary standards commissioner and denied breaking the law or misusing public funds.

The disclosures focus on payments and gifts linked to Christopher Harborne and George Cottrell. Reports in May said Harborne provided a $6.7 million gift; Farage previously described that payment as a “reward” for his campaigning in the 2016 Brexit referendum. He has told supporters the donations were given unconditionally and that some funds were used to pay for security after threats and attacks.

Procedural steps to trigger a by-election can take weeks or months because of the logistical arrangements required when an MP stands down. Farage won the Clacton seat in July 2024 with 46.2% of the vote. By standing again he will seek re-election while the formal inquiries continue.

Farage has prior ties to the crypto industry. He spoke at the Bitcoin 2025 conference in Las Vegas and holds an investment in a London-listed company that keeps Bitcoin on its balance sheet. The current scrutiny comes amid wider attention to crypto-related political funding in recent election cycles.

The parliamentary standards commissioner will examine whether rules on MPs’ conduct and declarations were breached. Farage maintains the donations were transparent and used appropriately. He added, “I’ve decided that the people of Clacton should be the judges of my actions,” and the resignation and planned by-election will proceed while the inquiries run their course.