United Kingdom political party Reform UK has received a record 9 million British pounds (about $12 million) donation from early crypto investor Christopher Harborne.
The sum is the largest single political gift ever made by a living person in Britain and comes months before local elections scheduled for May, the BBC reported on Thursday, citing newly published figures from the Electoral Commission.
Harborne, a British national now based in Thailand, has a history of backing UK political campaigns. He previously donated to the Conservatives under Boris Johnson and to the Brexit Party, later rebranded as Reform UK, during the 2019–2020 cycle, per the report.
The donation breaks the previous individual record of $10.7 million given by supermarket heir Lord David Sainsbury to the Liberal Democrats in 2019.
Harborne’s Crypto Ties
Harborne, a self-described “digital nomad,” is also known for his crypto investments. He holds a nearly 13% stake in Tether, the company behind the USDt stablecoin, a position linked to compensation tied to a 2016 hack at Bitfinex. He states he holds no executive role at either firm.
Last year, Harborne filed a defamation lawsuit against The Wall Street Journal over a 2023 article that accused him of allegedly abetting illegal activities at Tether and Bitfinex. He asserted the media wrongly accused him of “committing fraud, laundering money, and financing terrorists.”
The article claimed Bitfinex struggled to keep access to banking services in late 2018 and turned to intermediaries and shell companies, citing internal documents. Portions referencing Harborne were subsequently removed.
UK Considers Ban on Crypto Political Donations
The record donation from an early crypto investor comes as the UK is considering banning crypto donations to political parties. The proposal is reportedly under discussion as part of a new Elections Bill aimed at strengthening trust in politics and tightening campaign financing rules.
Reform UK became the first party to accept crypto donations this year. The party is also leading in polls, topping opinion polls at around 27% nationally, well ahead of Labour and the Conservatives, both of which trail below 20%.
