BitMEX co-founder contributed 75% of Reform UK’s donations in Q2 2026
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The UK is considering tightening rules on political donations, potentially restricting contributions from crypto billionaires to the Reform Britain party.
BlockBeats reported on July 6th that the UK government announced a new round of political donation reforms, proposing to extend the £100,000 cap on overseas donations to the first year after the donor becomes a UK resident, and to raise the scrutiny standards for corporate political donations, in order to further restrict the inflow of foreign funds into UK politics. The new regulations build on the ban on cryptocurrency political donations implemented in March of this year and are expected to be submitted to Parliament for final review next week. Analysts believe the new regulations may affect the political donation capabilities of key crypto industry supporters of the Reform Party (Reform UK). Christopher Harborne, an investor holding approximately 12% of Tether's shares, has donated approximately £12 million to the Reform Party and is registered to vote in the UK; BitMEX co-founder Ben Delo has donated approximately £4 million and has stated his intention to return to the UK to settle, at which point his political donations within a year of his return may be subject to the £100,000 cap. The report states that none of the donations were in cryptocurrency, and the Reform Party stated that all donations complied with current regulations. Meanwhile, party leader Nigel Farage is also facing further investigation for allegedly failing to declare non-cash support from supporter George Cottrell.
Reform Party leader Nigel Farage will resign over an investigation into cryptocurrency donations and seek re-election.
According to Foresight News , citing The Block, Reform Party leader Nigel Farage has announced he will resign as a Member of Parliament and seek re-election after it was confirmed that Parliament will investigate donations related to cryptocurrencies. Farage stated the investigation relates to donations from Christopher Harborne and George Cottrell, and he denies any wrongdoing.
Using donations to buy a Ferrari? The leader of the UK Reform Party claims the $6.7 million donation from Tether shareholders was an "unconditional gift."
According to Mars Finance, on June 24th, Nigel Farage, leader of the Reform Party in the UK, responded to the news of accepting a £5 million (approximately $6.7 million) gift from Tether shareholder Christopher Harborne, stating that the funds were an "unconditional gift" and how they were used was entirely a personal matter. He added, "If I wanted, I could use it to buy a Ferrari." Currently, the UK Parliament's Standards Commissioner is investigating whether Farage should declare this gift if he is elected as a Member of Parliament in 2024. According to regulations, newly elected MPs are usually required to declare high-value gifts received in the previous year. Harborne is a British-Thai businessman who holds approximately 12% of Tether, the issuer of the stablecoin USDT, and is one of the main donors to the Reform Party. Facing external questions about whether the gift might affect his support for cryptocurrencies, Farage denied this, stating that he has long supported the development of the crypto industry and advocates for establishing a UK Bitcoin reserve and reducing capital gains tax on digital assets. It is worth noting that this personal gift is separate from Harborne's political donation to the Reform Party, and neither was paid in cryptocurrency.
British Reform Party leader Farage has been exposed for failing to declare funding from the cryptocurrency gaming industry; one of the funders has a prior conviction for fraud.
PANews reported on July 6th that, according to an investigation by The Block citing The Sunday Times, Reform Party leader Nigel Farage failed to declare, as required, financial support from George Cottrell for security, drivers, social media personnel, and accommodations before his election as a Member of Parliament in 2024. Cottrell, who previously served eight months in prison in the US for wire fraud, later became a key figure in a cryptocurrency gambling platform. Farage only declared a £9,253 trip to Belgium funded by Cottrell and a £15,276 flight donation, failing to mention the security costs already paid by Cottrell.
The leader of the UK's Reform Party has been accused of improperly lobbying the central bank against a digital pound, possibly related to undeclared grants.
According to Foresight News , Decrypt reports that Labour MP Phil Brickell has filed a whistleblower complaint with the Parliamentary Standards Commissioner regarding Reform Party leader Nigel Farage's alleged lobbying of the Bank of England. The complaint alleges that Farage's push for crypto policies could benefit his largest donor, Christopher Harborne, a major investor in Tether. The core of the complaint involves a private meeting last September, during which Farage allegedly urged Governor Andrew Bailey to abandon plans to issue a central bank digital currency, "Britcoin." The Bank of England subsequently withdrew its proposed £20,000 cap on individual stablecoin holdings. The investigation focuses on whether there is a connection between this grant and Farage's lobbying activities.
Nigel Farage, leader of the UK Reform Party, has lost over £560,000 on his investment in Stack BTC.
According to Foresight News , citing The Guardian, Nigel Farage, leader of the UK's Reform Party, has invested £215,000 in Bitcoin vault company Stack BTC, acquiring a 5.61% stake. Since its inception in March, the investment has fallen 15.48%, resulting in a loss of approximately £565,000. Stack BTC's largest shareholder, Paul Withers (holding 20.72%), is also the owner of gold trader Direct Bullion, which previously paid Farage £270,000 for a 12-hour brand promotion. Farage denies being a Stack BTC brand ambassador, stating he is merely a shareholder, but has appeared in the company's promotional videos.