Billionaire Tether investor Harborne donates £24M to UK politics amid new crypto-linked donation rules

Christopher Harborne, a British-born Cambridge graduate who has lived in Thailand since 1996, is the single largest donor in UK political history. Known by his Thai name, Chakrit Sakunkrit, he holds Thai citizenship and controls a reported 12% stake in Tether, the stablecoin issuer behind approximately $184 billion in circulating USDT.

According to a Guardian investigation, Harborne has directed more than £24 million to Reform UK and its predecessor movements since 2019. His donations include a confirmed £9 million contribution in late 2025, the largest single donation by a living person to a UK political party, and an additional £3 million in March 2026. These contributions represent roughly two-thirds of all funding Reform UK has ever received.

Harborne’s wealth is deeply tied to early crypto investments. He began purchasing Bitcoin in 2011 and became a major Ethereum holder by 2014. His reported 12% stake in Tether, a company generating roughly $10 billion in annual profit, has significantly amplified his net worth. Harborne’s legal team emphasizes that he is a passive investor with no executive role or control over company policy.

Reform UK’s crypto-friendly platform

Reform UK, led by Nigel Farage, has made crypto advocacy a cornerstone of its political platform. The party’s policies include:

• A proposed state-owned Bitcoin reserve.
• A flat 10% capital gains tax on crypto.
• Significant deregulation of the digital asset sector.
• Opposition to the Bank of England’s proposed stablecoin limits, arguing that privately issued stablecoins should be encouraged.
• Criticism of a state-backed digital currency, claiming it would give the Bank of England “unprecedented control” over financial activity.

Reform UK has also been among the first UK political groups to accept donations in crypto, further aligning its financial and political strategies with the digital asset ecosystem.

UK government moves to address crypto-linked political finance

The convergence of Harborne’s financial interests and Reform UK’s pro-crypto policies has drawn scrutiny. The UK government is now moving to address gaps in political finance laws exposed by crypto-era donations. The proposed changes aim to clarify regulations governing donations from individuals whose wealth is tied to global, jurisdiction-agnostic industries like crypto.

The reforms highlight the challenges of regulating political finance in an era where wealth and influence transcend national borders. Existing laws, designed for traditional financial systems, struggle to account for the unique dynamics of crypto-based wealth and its potential impact on domestic politics.