Nigel Farage resigns parliament seat as crypto scandal unfolds

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Last Updated on 8 July 2026 by CryptoTips.eu

The British government of outgoing Prime Minister Keir Starmer is doing everything it can to block a future election victory of the right-wing, anti-immigration party Reform UK (led by Nigel Farage).

A law is set to be passed soon that will make it difficult for Nigel Farage’s donors, all crypto-billionaires, to transfer funds to him in the future.

Following an article in The Times this week that revealed how Farage funded his political party with crypto donations, he himself stepped down as an MP yesterday.

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From now on, scrutiny will focus not only on the donations made to Farage by crypto-billionaire Christopher Harborne (a major Tether shareholder) but also on the funds he received from a convicted crypto investor—money he failed to declare upon taking his seat in the House of Commons.

The issue concerns funds provided to Farage by his advisor and friend George Cottrell, known in London as “Posh George.” Cottrell is a British aristocrat who was convicted of fraud in the United States but was released early.

Back in 2016, Cottrell was charged with 21 criminal offenses regarding his alleged role in a “dark money” laundering scheme. He pleaded guilty to wire fraud and served a prison sentence in Arizona. He is currently seeking a pardon from Donald Trump.

The Starmer government is therefore attempting to introduce rules that would make it impossible for foreign donors to transfer funds directly to political parties in the United Kingdom.

According to all political polls, Reform would become the biggest political party if an election were held today.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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