Key facts
- Nigel Farage received an undeclared £5 million ($6.7 million) gift from Tether stakeholder Christopher Harborne.
- Farage stated the gift was unconditional and he could spend it as he pleased, including on luxury cars.
- The Parliamentary Standards Commissioner is investigating whether the gift should have been declared.
- Farage claimed he was not involved in politics at the time of receiving the gift.
- Farage has previously advocated for crypto-friendly policies.
Reform UK leader Nigel Farage has defended an undeclared £5 million ($6.7 million) gift from Christopher Harborne, a billionaire stakeholder in Tether. Farage stated the gift was a private matter and he could spend it as he wished, even on luxury cars like Ferraris. The Parliamentary Standards Commissioner is investigating whether Farage should have declared the gift after winning his seat as MP for Clacton in 2024, as new MPs must register gifts over £300. Farage insisted he was not in politics when he received the funds, despite having discussed a potential parliamentary run on his podcast. His explanation for the gift's purpose has also shifted, initially suggesting it was for personal security and later describing it as a reward for his 27 years of campaigning for Brexit. He denied giving conflicting stories, maintaining the money was given unconditionally. Farage also pushed back against suggestions that the gift influenced his pro-crypto stance, asserting he already supported changes to crypto laws and that London becoming a crypto hub would have minimal global market impact. The gift is separate from previous donations Harborne has made to Reform UK itself. Labour has accused Farage of avoiding scrutiny over the matter.