Reform UK chairman Lee Anderson has demanded an investigation into UK Defence Secretary Wes Streeting over allegations that a $50,000 donation from Labour for the Long Term—a think tank reportedly linked to former FTX CEO Sam Bankman-Fried—may have influenced his political activities. The call comes as Reform UK leader Nigel Farage faces a by-election following revelations of $6.7 million in donations from Christopher Harborne, a crypto billionaire who has previously received financial support from George Cottrell, a convicted fraudster.
Labour for the Long Term’s founder, David Lawrence, has denied any connection between the think tank and SBF, stating it “did not receive any donations from the FTX Foundation or Mr. Bankman-Fried.” However, reports allege the organisation received $675,000 from SBF between 2022 and 2023, with uncertainty over whether Streeting’s $50,000 donation originated from the same source.
Legal experts have highlighted a UK law permitting unincorporated associations to donate more than £675 ($850) to politicians, raising concerns about potential untraceable funding channels. Meanwhile, SBF, who was recently sentenced to 25 years in prison for seven felony convictions, remains at the centre of ongoing scrutiny over his financial ties to UK political entities.
Farage’s legal troubles coincide with a broader examination of crypto-related donations in British politics, as the International Bar Association notes loopholes in regulations governing campaign finance. Reform UK’s leadership has yet to comment on the specific allegations against Streeting, though the party faces mounting pressure to clarify its financial relationships amid the controversy.
Written by James Tobias
Bitcoin Desk
