Tether Stakeholder Gave Farage Undisclosed $6.7M Gift

Christopher Harborne, a billionaire who holds about 12% of the issuer of the USDT stablecoin, gave Nigel Farage a $6.7 million (approximately £5 million) personal gift in 2024 to cover the Reform UK leader’s security costs. The payment was structured as a personal gift and was not reported to electoral authorities.

Farage said the money was intended to pay for his personal security. At the time the gift was made he had not announced plans to stand for Parliament; he later ran for and won the Clacton seat.

The gift is separate from Harborne’s donations to Reform UK. Harborne has given about £12 million to the party, including previously disclosed contributions of £9 million and £3 million.

The disclosure comes after the UK introduced an immediate moratorium on cryptocurrency donations to political parties following an independent review into foreign financial influence. The ban covers crypto donations of any size, is being applied retrospectively, and requires parties to return digital-asset contributions within 30 days.

Before the moratorium, Reform UK accepted cryptocurrency donations. Reform UK has also received large cash donations from overseas tech figures. Ben Delo, co-founder of a crypto exchange and based in Hong Kong, revealed a $5.4 million donation to the party earlier this year. Delo said he made the contribution before new limits were placed on donations from British citizens living abroad. He previously pleaded guilty in the United States to breaches of the Bank Secrecy Act and anti-money-laundering rules, paid a criminal fine, and was later granted a pardon.

Harborne lives in Thailand. Campaign finance rules in the UK require disclosure of donations and gifts linked to political activity. The payment to Farage has prompted questions about how personal gifts are treated under those rules.

Farage responded to the government’s restrictions on crypto donations by calling Labour ministers ‘out of touch.’

The revelations about personal and party donations add to ongoing attention to foreign funding, digital assets and the rules that govern political finance in the UK.