UK Political Parties Call for Investigation into Reform UK's £9 Million Donation
The Labour Party and Liberal Democrats have jointly requested an investigation by the Electoral Commission into a £9 million ($12 million) donation made to Reform UK by Christopher Harborne. This donation is the largest ever given to a living individual in UK political history. The Liberal Democrats have also called for scrutiny of potential conflicts of interest after Nigel Farage promoted Tether, a cryptocurrency in which Harborne holds a 12% stake through his investments in Tether and Bitfinex. Reform UK maintains that Harborne's donation was not made in cryptocurrency, despite Harborne's wealth being linked to these crypto holdings.
Harborne has previously made substantial donations, including £13.7 million to Reform between 2019 and 2020, and £1 million to Boris Johnson in November 2022. The Labour Party has asked the Financial Conduct Authority to review the matter and seeks details on whether Reform UK has received any cryptocurrency donations, noting that no donation declaration has been filed with the Electoral Commission. Observers have warned that very wealthy donors like Harborne can disproportionately influence UK politics, prompting calls for an Elections Bill to strengthen rules around political donations.
Reports had suggested that Reform UK might have received the UK's first cryptocurrency donation in October, but this has not been officially declared to the Electoral Commission.
