Farage's "I Followed the Rules" Defense Hits Snag as Undeclared Crypto-Linked Gifts Pile Up 🎩

Reform UK leader Nigel Farage said on Sunday that he "followed the rules" over unreported gifts from a crypto entrepreneur later convicted of fraud in the US, calling a weekend report into the matter a "hit job." According to The Sunday Times, Farage was provided with staff, security, transport and accommodation by George Cottrell, an aristocrat linked to the offshore crypto casino Tether.bet and a close adviser to Farage for more than a decade. The gifts were received before Farage was elected a member of parliament in July 2024.

The Sunday Times reported that Cottrell, whose gambling site uses the Tether (USDt) stablecoin, supplied Farage with drivers and security personnel made up primarily of former soldiers. Cottrell also reportedly recruited and paid for three staff members to assist with the Reform leader's social media and, since the election, has allowed Farage to use a rented five-story house near Buckingham Palace. A Reform source told the newspaper that Farage almost always stayed at his own home and did not routinely use the property. Upon entering Parliament, Farage registered only one benefit from Cottrell valued at less than 9,300 British pounds ($12,400) for travel, security and accommodation to attend an event in Belgium.

The disclosure marks the second time Farage has faced reports of undeclared gifts from wealthy figures tied to crypto, an industry he has publicly advocated for in parliament as it faces mounting regulatory scrutiny. In March, the Treasury temporarily banned political donations made in cryptocurrencies. A parliamentary standards watchdog opened an inquiry in May into whether Farage failed to declare a 5 million British pounds ($6.7 million) gift from crypto billionaire Christopher Harborne, who partly owns stablecoin giant Tether. Farage has argued the gift does not need to be declared because it was given before he was an MP and used for personal security.

Cottrell's legal history dates to 2016, when he was arrested in the US and charged with 21 offenses over his role in a money laundering plot. He pleaded guilty to a single wire fraud charge under a plea deal and spent eight months in prison. The Sunday Times report followed a Guardian story on Friday in which Labour MP Phil Brickell, who chairs a parliamentary anti-corruption group, urged the standards commissioner to investigate whether Farage lobbied the Bank of England to drop its digital currency plans, noting that Harborne and other crypto figures had been involved in related discussions.