Reform UK leader Nigel Farage reportedly accepted gifts that he did not publicly disclose from a crypto entrepreneur convicted of fraud in the US, according to The Sunday Times.
The news outlet reported on Saturday that Farage was gifted staff, security, transport and accommodation by George Cottrell, an aristocrat involved in an offshore crypto casino who has been a close adviser to Farage for more than 10 years.
Farage said in a statement on Sunday that he “followed the rules” over the gifts from Cottrell, which he received before he was elected a member of parliament in July 2024, and called The Times’ report a “hit job.”
It is the second time Farage has faced reports of undeclared gifts from wealthy figures tied to crypto, an industry he has advocated for while in parliament that is facing increasing regulatory scrutiny, with the Treasury having temporarily banned political donations made in cryptocurrencies in March.
A parliamentary standards watchdog opened an inquiry in May over 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.
Nigel Farage appears at the Bitcoin 2025 conference holding his party’s draft crypto legislation. Source: Gage Skidmore
Farage has argued he does not need to declare Harborne’s gift, as it was given to him to pay for personal security before he was an MP.
Cottrell’s reported gifts include security, use of house
The Sunday Times reported that Cottrell, who is involved in a gambling site called Tether.bet that uses the Tether (USDt) stablecoin, provided Farage with drivers and security made up primarily of former soldiers.
Cottrell also reportedly recruited and paid for three staff members to help with the Reform leader’s social media and, since the election, has let Farage use a rented five-story house near Buckingham Palace. A Reform source told The Times that Farage almost always stayed at his own home and did not routinely use the property.
Farage registered only one benefit from Cottrell upon entering Parliament, a benefit of less than 9,300 British pounds ($12,400) for travel, security and accommodation to attend an event in Belgium.
In 2016, Cottrell was arrested and charged in the US with 21 offenses for his role in a money laundering plot. He pleaded guilty to a single wire fraud charge after a plea deal and spent eight months in prison.
Farage reported over alleged crypto lobbying
The Times’ report follows a report in The Guardian on Friday that the standards commissioner was urged to investigate whether Farage lobbied the Bank of England to drop its digital currency plans.
Labour MP and chair of a parliamentary anti-corruption group, Phil Brickell, reported Farage to the commissioner, saying he “claimed credit for persuading the Bank to soften its position” on a central bank digital currency.
Brickell said that Harborne “stood to benefit from opposition to a state-backed digital currency that could compete with private stablecoins.”
“This is not simply a debate about cryptocurrency. It is about whether an MP who has received millions from one individual should be lobbying for policies that could increase the value and profitability of that [Reform] donor’s investments,” said Brickell.
Farage and Reform have championed crypto, with the party publishing draft legislation last year with the goal of making the UK “the world’s premier hub for cryptocurrency.”
Reform was also the first UK political party to accept donations in Bitcoin (BTC). Farage has also proposed cutting capital gains taxes on crypto from 24% to 10% and called for the Bank of England to create a Bitcoin reserve.
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