Using Donations to Buy a Ferrari? UK Reform Party Leader Calls $6.7M Tether Shareholder Donation a "Gift With No Strings Attached"

BlockBeats News, June 24th, Nigel Farage, the leader of the Reform UK party, recently responded to receiving a £5 million (approximately $6.7 million) gift from Tether shareholder Christopher Harborne, stating that the funds were given as a "no-strings-attached gift," and how he chooses to use it is entirely a personal matter. He said, "If I wanted to, I could go buy a Ferrari with it."

Currently, the UK Parliamentary Standards Commissioner is investigating whether Farage should have declared this gift after being elected as a Member of Parliament in 2024. According to regulations, newly elected MPs are typically required to declare high-value gifts received in the previous year.

Harborne, a British-Thai businessman, holds about 12% of the shares of the stablecoin USDT issuer Tether and is also one of the main financial supporters of the Reform UK party. Faced with external questioning about whether this gift might influence his support for cryptocurrency, Farage denied it, stating that he has long been a supporter of the cryptocurrency industry and has advocated 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 the political donations Harborne has made to the Reform UK party and that neither transaction was made in cryptocurrency.