Using Donations to Buy a Ferrari? UK Reform Party Leader Calls Tether Shareholders' $6.7 Million Donation an "Unconditional Gift"

Reform UK leader Nigel Farage has addressed the £5 million (approximately $6.7 million) gift he received from Tether shareholder Christopher Harborne, describing the funds as an "unconditional gift" whose use is entirely personal—adding, "If I wished, I could use it to buy a Ferrari." The UK Parliament’s Standards Commissioner is currently investigating whether Farage should have declared the donation after being elected as a Member of Parliament in 2024. Under parliamentary rules, newly elected MPs are generally required to disclose high-value gifts received in the preceding year. Harborne, a British-Thai businessman, holds roughly 12% of Tether—issuer of the stablecoin USDT—and is one of Reform UK’s key donors. In response to external concerns that the gift could influence his stance on cryptocurrency, Farage rejected the claim, stating he has long supported the crypto industry and advocates for establishing a UK Bitcoin reserve and lowering capital gains tax on digital assets. Notably, the personal gift is separate from political donations Harborne has made to Reform UK, and neither was paid in cryptocurrency.