Cryptocurrency investor makes the largest donation in history to a British party

Source: PortaldoBitcoin Original Title: Cryptocurrency investor makes the largest donation in history to a British party Original Link: A Thai investor in the cryptocurrency sector has just donated $11.4 million (£9 million–pounds sterling) to Nigel Farage’s political party, Reform UK, the largest individual donation ever made to a British political party by a living donor.

This is more than double the donation given to the Conservatives, who raised $5.8 million (£4.6 million), and is far ahead of the $2.7 million (£2.1 million) received by the Labour Party and the $1.3 million (£1 million) received by the Liberal Democrats.

The donation indicates that crypto-related funds are gaining significant ground in British politics ahead of the upcoming general election.

This quarter also marks the first time since last year’s general election that Reform UK has raised more funds than the Conservatives, while Farage’s party leads national opinion polls.

Reform UK has already positioned itself as a champion of the cryptocurrency industry in Westminster, with Farage promising to drastically reduce taxes on crypto capital gains and to force the Bank of England to establish a Bitcoin reserve.

Harborne’s donation far surpassed all other contributions in the third quarter, with the second largest coming from game developer Jeremy Elliott San, at $1.3 million (£1 million), to the Conservatives, followed by the $459,000 (£362,625) donated by the Unite union to the Labour Party and $63,300 (£50,000) donated by Neale Powell-Cook to the Liberal Democrats.

Mega donor

The reclusive Harborne also invested $12.7 million (£10 million) in Reform UK’s predecessor, the Brexit Party, between 2019 and 2020.

A publication revealed that Harborne was listed as a DigFinex shareholder, the parent company of certain crypto platforms, between 2017 and 2018. According to sources familiar with the matter, Harborne used his alternative Thai identity, Chakrit Sakunkrit, to invest funds in the company based in the British Virgin Islands.

The Wall Street Journal reported in March 2023 that certain crypto platforms allegedly used forged documents and shell companies to gain access to the U.S. banking system.

Harborne then filed a defamation lawsuit, claiming that reports falsely portrayed him, as well as his company, AML Global, as participants in improper banking activities.

Harborne’s lawyers stated that he holds approximately 12% of certain crypto platforms, but performs no operational role in any of them.

The businessman is said to have accompanied former Prime Minister Boris Johnson on a trip to Ukraine in September 2023, registered as a “Boris Johnson Cabinet adviser,” according to leaked documents.

The visit took place less than a year after Harborne had donated $1.3 million (£1 million) to Johnson, considered the largest ever donation to a single Member of Parliament.

Rules under review

MP Pat McFadden had previously advocated for a ban on political donations in cryptocurrencies in July, citing concerns about illicit funding. At the time, a Reform UK spokesperson said McFadden’s comments were “emblematic of the Labour Party’s outdated and out-of-touch attitude towards cryptocurrencies.”

McFadden’s call came two months after Farage announced that Reform UK would become the first British party to accept cryptocurrency donations, with its website now accepting Bitcoin, Solana, Ethereum, and USDC.

In October, the Electoral Commission announced plans to review and update its approach to crypto-based political funding.