News linked to both this project and an event.
According to CoinDesk, Nigel Farage, leader of the UK’s Reform UK party, is facing a parliamentary standards inquiry after receiving an undisclosed £5 million (approximately $6.7 million) grant from cryptocurrency billionaire Christopher Harborne—prior to his election as a Member of Parliament in 2024. Harborne resides in Thailand and holds a 12% stake in stablecoin issuer Tether. Farage stated that the grant was intended to ensure his personal security—not for political activities. However, both the Conservative and Labour parties have accused him of violating House of Commons rules requiring MPs to register any income received within the 12 months preceding their election, and have referred the matter to the Parliamentary Commissioner for Standards. Reform UK countered that the payment constitutes a “personal unconditional gift,” exempt from disclosure requirements and unrelated to the election. The UK government announced in March this year that it would suspend political parties’ acceptance of cryptocurrency donations to guard against foreign interference. Previously, Christopher Harborne donated £9 million to Reform UK—the largest single political donation ever made by a living individual in the UK. This year, Ben Delo, co-founder of BitMEX, also donated £4 million to the party. Additionally, Farage himself holds a 6.31% stake in Stack BTC, a Bitcoin treasury company.
According to Cointelegraph, the UK’s Liberal Democrats have written to the Financial Conduct Authority (FCA) requesting an investigation into Nigel Farage—the leader of Reform UK—and his ties to the bitcoin company Stack BTC. The party questions whether Farage’s appearance in the company’s promotional video, while holding shares in Stack BTC, violates market rules and constitutes a conflict of interest. Stack BTC recently disclosed that it purchased 37 bitcoins—valued at approximately $2.7 million—as corporate reserves; Farage holds a 6.31% stake in Stack BTC through his media company. This incident comes as the UK government advances a proposal to ban cryptocurrency political donations, aiming to prevent external funding from interfering with elections. The FCA stated it will review the letter and respond accordingly.