comments<\/a> Farage gave to broadcasters on Tuesday, legal advice obtained by his team concluded there was \u201cno obligation\u201d to declare the payment because it was an \u201cunconditional, non-political, personal gift.\u201d\u00a0<\/p>\nFarage said the money was connected to personal security concerns after past threats against him, including a firebomb attack on his home, and stated the funds would help ensure his long-term safety.<\/p>\n
Conservative officials have since referred the matter to Parliamentary Standards Commissioner Daniel Greenberg, requesting an examination into whether any part of the \u00a35 million may have indirectly supported political activity.\u00a0<\/p>\n
Farage added he would not refer himself to the watchdog because there was \u201cno case to answer.\u201d<\/p>\n
Labour chair Anna Turley accused Farage of appearing to have \u201cbroken the rules again,\u201d while Reform UK said the payment was exempt from disclosure rules because it was received in June 2024 before Farage decided to stand as the party\u2019s parliamentary candidate for Clacton.<\/p>\n
<\/p>\n
The controversy emerged weeks after reports revealed the payment had not been declared under UK campaign finance rules despite its size.\u00a0<\/p>\n
Harborne, who lives in Thailand and owns a 12% stake in stablecoin issuer Tether, has already become one of Reform UK\u2019s biggest financial backers.<\/p>\n
Crypto donor ties draw renewed scrutiny<\/h2>\n
Harborne has separately donated roughly \u00a312 million to Reform UK, including a \u00a39 million contribution last year that was described as the largest political donation made by a living individual in British history.\u00a0<\/p>\n
In remarks published by the Telegraph last week, Harborne said he believed his donations had influenced the government\u2019s decision to introduce restrictions on overseas political contributions.<\/p>\n
Harborne told the newspaper he did not believe the government had \u201ca right to stop me\u201d and said he had not ruled out returning to the UK to avoid any future restrictions.\u00a0<\/p>\n
He also stated that he expected nothing in return for the \u00a35 million payment to Farage apart from helping protect his safety, adding that legal documents classified the transfer as \u201cunconditional and irrevocable.\u201d<\/p>\n
The dispute has added to scrutiny surrounding Reform UK\u2019s connections to cryptocurrency investors and digital asset businesses. In April, the Liberal Democrats asked the Financial Conduct Authority to investigate Farage\u2019s financial links to crypto firm Stack BTC after he appeared in promotional material tied to the company\u2019s Bitcoin treasury strategy.<\/p>\n
Liberal Democrat deputy leader Daisy Cooper stated in a letter to the FCA that Farage\u2019s crypto activities raised questions about \u201cmarket abuse and a conflict of interest.\u201d Public filings showed Farage disclosed a $286,000 investment in Stack BTC through his media company Thorn In The Side, giving him a 6.31% stake in the business.<\/p>\n
Stack BTC, chaired by former Chancellor Kwasi Kwarteng, disclosed in April that it had increased its Bitcoin holdings to 68 BTC after purchasing another 37 BTC for about $2.7 million.<\/p>\n
Political pressure around crypto-linked funding intensified after the Rycroft Review warned that digital asset donations could create risks tied to foreign interference in British elections. The UK government imposed an immediate moratorium on crypto donations to political parties last month while officials prepare new rules for political financing.<\/p>\n
Neither Harborne\u2019s donations to Reform UK nor the \u00a35 million payment to Farage were made using cryptocurrency.<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
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