The Liberal Democrats have called for the UK Financial Conduct Authority (FCA) to investigate Nigel Farage's promotion of a £2 million cryptocurrency purchase. Farage is a shareholder in the British Bitcoin company Stack and appeared in a promotional video to mark its latest investment. A spokesman for Farage described the event as a 'photo call' and said Farage bought the £2 million of crypto on behalf of Stack, not personally.
3% of its shares through his investment vehicle Thorn In The Side Ltd. ' Keir Starmer has said he will ban donations in cryptocurrency to UK political parties in response to a review of foreign financial interference. Labour has called for an investigation into the latest donations to Reform UK, coming from a Thailand-based cryptocurrency billionaire and ex-Tory benefactor.
I have long been one of the UK's few political advocates for Bitcoin, recognising the role digital currencies will play in the future of business and finance.
Reform UK secured a further £3 million donation from Thailand-based billionaire Christopher Harborne ahead of the May local elections. 5 million secured between October and December. Harborne formerly donated much to the Conservative Party and was involved in bankrolling Brexit.
Labour Party chair Anna Turley voiced concern that Reform UK hadn't declared the form of the donation, given that cryptocurrency donations above £500 must be reported as non-cash donations. Turley claimed it raised alarming questions about transparency and that writing to the Electoral Commission was to ensure public confidence that everything is above board with Reform’s declarations. In the promotional video, Nigel Farage appeared alongside Kwasi Kwarteng, who served as UK chancellor for 38 days during Liz Truss's premiership.
Nigel Farage is hyping up a former Tory chancellor who crashed the economy, in a bid to line his own pockets. Reform are more interested in themselves than in standing up for working people. While Labour is working to clear up the mess the Tories left, Nigel Farage is cosying up to the architect of Liz Truss's catastrophic mini-budget. It tells you everything you need to know about whose side he's on.
Stack was co-founded by Paul Withers, who is also the owner of Direct Bullion, for which Farage is a brand ambassador. Direct Bullion has paid Farage £226,200 for promotional work, according to the MPs register of interests.
Nigel Farage has serious questions to answer on crypto donations to Reform. After Farage said Reform would take crypto donations last May, and bragged about having received crypto cash in October, not a single donation has been declared. Farage needs to say why.