Farage Defends Undeclared £5M Gift from Crypto Billionaire Harborne

Nigel Farage, leader of Reform UK, is facing scrutiny over an undeclared £5 million ($6.7 million) gift from Christopher Harborne, a British billionaire with a 12% stake in USDT issuer Tether. The gift was made in 2024, after Farage won his seat as MP for Clacton.

Farage has defended the gift, saying it is 'a purely private matter' and that he can spend it on whatever he likes, including Ferraris or horses. He insisted he wasn't in politics when he received the gift, despite having discussed a possible run for Parliament on his own podcast.

The Parliamentary Standards Commissioner is investigating whether Farage should have declared the gift after winning his seat. New MPs must register gifts above £300 from the previous year, unless they could not reasonably be tied to political activity.