Farage Accused of Failing to Disclose Support Tied to Crypto Betting Platform
Summary
- Nigel Farage has been accused of receiving financial support from a figure linked to a crypto betting platform without disclosing it.
- Farage is under investigation over ties to people connected to Tether Bet, an offshore crypto gambling platform that used Tether (USDT), and over allegations that he failed to disclose personal support of about 5 million pounds.
- Farage has been one of Britain's most prominent pro-crypto politicians, pledging a strategic Bitcoin (BTC) reserve and lower capital gains taxes on digital assets, but concerns over conflicts of interest are rising as his financial ties to the industry come into focus.
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Nigel Farage, leader of the U.K. right-wing party Reform UK, has been accused of receiving financial support from a figure linked to a crypto gambling platform over several years without disclosing it.
The Block and The Sunday Times reported on July 5 that, in the year before his election in the 2024 general election, Farage received support from George Cottrell for security, a chauffeur, wages for social media staff and lodging. Under House of Commons rules, support of more than 300 pounds related to political activity must be declared. Farage reportedly disclosed only some trip expenses and flight support.
Cottrell served eight months in the US in 2016 on wire-fraud charges related to money laundering. He was later reported to have been involved in operating Tether Bet, an offshore crypto gambling platform in Montenegro that used the stablecoin Tether (USDT). The Sunday Times said the platform was established shortly after a meeting involving Tether investor Christopher Harborne, Farage and Cottrell.
Farage is also under investigation by the U.K. Parliament's ethics watchdog over allegations that he failed to disclose personal support amounting to about 5 million pounds from Harborne. Farage's camp denied the allegations, saying the support was received before he became a sitting politician and did not violate the rules.
Farage is one of Britain's best-known pro-crypto politicians. He has pledged to create a strategic Bitcoin reserve at the Bank of England and cut capital gains taxes on digital assets. But as his financial ties to the crypto industry come under renewed scrutiny, concerns over potential conflicts of interest are also growing.
