Crypto investor gives Reform UK record $12M in election donation

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The donation came arsenic the UK authorities considered banning crypto contributions to governmental parties nether a projected Elections Bill.

Crypto capitalist gives Reform UK grounds $12M successful predetermination donation

United Kingdom governmental enactment Reform UK has received a grounds 9 cardinal British pounds (about $12 million) donation from aboriginal crypto capitalist Christopher Harborne.

The sum is the largest azygous governmental acquisition ever made by a surviving idiosyncratic successful Britain and comes months earlier section elections scheduled for May, the BBC reported connected Thursday, citing recently published figures from the Electoral Commission.

Harborne, a British nationalist present based successful Thailand, has a past of backing UK governmental campaigns. He antecedently donated to the Conservatives nether Boris Johnson and to the Brexit Party, aboriginal rebranded arsenic Reform UK, during the 2019–2020 cycle, per the report.

The donation breaks the erstwhile idiosyncratic grounds of $10.7 cardinal given by supermarket heir Lord David Sainsbury to the Liberal Democrats successful 2019.

Harborne’s crypto ties

Harborne, a self-described “digital nomad,” is besides known for his crypto investments. He holds a astir 13% stake of Tether, the institution down the USDt (USDT) stablecoin, a presumption linked to compensation tied to a 2016 hack astatine Bitfinex. He said helium holds nary enforcement relation astatine either firm.

Last year, Harborne filed a defamation lawsuit against The Wall Street Journal implicit a 2023 nonfiction that accused him of allegedly abetting amerciable activities astatine Tether and Bitfinex. He said the media wrongly accused him of “committing fraud, laundering money, and financing terrorists.”

The nonfiction claimed Bitfinex struggled to support entree to banking services successful precocious 2018 and turned to intermediaries and ammunition companies, citing interior documents. Parts referencing Harborne were aboriginal removed.

UK weighs prohibition connected crypto governmental donations

The grounds donation comes arsenic the UK is considering banning crypto donations to governmental parties. The connection is reportedly being discussed arsenic portion of a caller Elections Bill aimed astatine strengthening spot successful authorities and tightening run financing rules.

Reform UK this twelvemonth became the archetypal enactment to accept crypto donations. The enactment is starring successful polls, topping sentiment polls astatine astir 27% nationally, good up of Labour and the Conservatives, some of which way beneath 20%.