Pro-democracy campaigners and MPs have warned that crypto currency donations pose a risk to the integrity and transparency of our political system.
Self-proclaimed ‘man of the people’ Nigel Farage, who is among the highest earning MPs in Parliament, has invested £215,000 in Kwasi Kwarteng’s bitcoin firm.
Far from being anti-establishment, millionaire former banker Farage, has invested his money in former Tory chancellor Kwasi Kwarteng’s bitcoin reserves company, Stack BTC.
Farage is a keen advocate of bitcoin, saying in a statement following his investment: “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 has also received £12m in political donations from the crypto billionaire Christopher Harborne and last year became the first main party in the UK to accept donations through bitcoin and other cryptocurrencies.
Pro-democracy campaigners and MPs have warned that crypto currency donations pose a risk to the integrity and transparency of our political system.
Their sources are often harder to trace, with the UK Government’s 2025 National Risk Assessment identifying cryptoassets as a growing risk to both money laundering and terrorist financing due “to the anonymity, speed, and…global reach of transactions”.
Kwarteng was sacked as chancellor after his disastrous mini-budget, and yet Farage seems to trust him implicitly.
Basit Mahmood is editor of Left Foot Forward
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