Reform chair seeks probe of $50,000 donation to Wes Streeting

Reform UK chair Lee Anderson has asked the parliamentary commissioner for standards to investigate a reported $50,000 donation to Defence Secretary Wes Streeting that passed through a think tank with prior links to funds associated with Sam Bankman‑Fried.

The payments at issue were made to Labour for the Long Term in 2022 and 2023, and a portion was later given to Wes Streeting. The founder of the think tank previously accepted a separate $675,000 gift that has been connected to Sam Bankman‑Fried; the founder has defended the donations pathway and says the money forwarded to Streeting came from a different donor.

Anderson has questioned whether Streeting should have known the ultimate source of the money when he accepted the $50,000. Streeting requested a list of Labour for the Long Term’s donors before taking the funds; the former FTX chief’s name did not appear on that list, and Streeting has maintained he had no contact with Sam Bankman‑Fried.

Labour for the Long Term’s founder, David Lawrence, has denied the think tank received money from the FTX Foundation or Mr. Bankman‑Fried and has stated the contribution to Streeting was funded by another donor. “We did not receive any donations from the FTX Foundation or Mr. Bankman‑Fried,” he wrote.

Under UK rules, unincorporated associations may give more than $675 directly to politicians. Those arrangements can allow funds to move through groups and think tanks before reaching a politician, which can leave the identity of an original donor less visible in public records.

The request for a probe comes as Sam Bankman‑Fried has had a US appeals court issue a formal mandate upholding his felony conviction and a 25‑year prison sentence. He retains the options of appealing to the US Supreme Court or seeking executive clemency.

The debate over the Streeting donation has intersected with broader questions about political giving and figures linked to cryptocurrencies. Reform leader Nigel Farage is due to contest a by‑election next week; his recent campaigns received large donations from individuals tied to the crypto sector, and he has described some contributions as gifts.

The parliamentary commissioner for standards will decide whether to open a formal inquiry. If an investigation proceeds, it would examine documentary evidence and communications to trace the donation pathway and determine whether disclosure rules or codes of conduct were breached. Streeting’s office has reiterated that he sought donor information before accepting the donation and that he had no direct dealings with Sam Bankman‑Fried, while Labour for the Long Term maintains the $50,000 came from a separate donor.