Reform UK's Nigel Farage Faces Standards Probe Over Tether Billionaire's $6.7 Million Gift

In brief

• U.K. MP Nigel Farage is facing a formal investigation by parliamentary standards authorities for allegedly failing to declare a £5 million personal gift.
• The donor is Christopher Harborne, a Thailand-based cryptocurrency investor with a 12% stake in stablecoin giant Tether.
• Farage claimed “no obligation” to declare the gift, which was made in 2024 before he announced his candidacy for parliament.

The U.K.’s Parliamentary Standards Commissioner is reportedly launching an inquiry into a $6.7 million (£5 million) gift received by Reform U.K. leader Nigel Farage from billionaire Tether investor Christopher Harborne.

Farage declared he was under “no obligation” to declare the gift, which was made before he announced his intention to stand in the 2024 general election. "Believe you me, we've looked at this from every legal angle," he told broadcasters earlier this week.

He claimed that the gift from Harborne, who holds a 12% stake in stablecoin issuer Tether, was to ensure his personal security, stating that it would help "ensure I can be safe for the rest of my life."

A Reform U.K. spokesperson defended the arrangement, telling the BBC that Farage “has always been clear that this was a personal, ​unconditional gift and no rules were broken."

Harborne, who resides in Thailand and holds Thai citizenship under the name Chakrit Sakunkrit, has thrown his weight behind Reform U.K., donating some £12 million to the party including a £9 million contribution last year that marks the largest single political donation from a living individual in British history.

His contributions accounted for approximately two-thirds of Reform's funding last year, making him the party's dominant financial backer.

Reform U.K. has emerged as an enthusiastic advocate for cryptocurrency, with Farage last year that he would be a “champion” for the sector, lower capital gains taxes on crypto and the establishment of a .