Crypto Billionaire Christopher Harborne Withdraws Support for Reform-Conservative Election Alliance
Ultra-wealthy political donor Christopher Harborne has definitively ended his push for a pre-general election pact between Reform UK and the Conservative Party. The Thailand-based cryptocurrency investor, who has poured £12 million into Reform UK, confirmed to the Guardian that he is "no longer" interested in facilitating such a collaboration.
Shift in Political Strategy
Sources familiar with discussions between Harborne and senior Reform figures, including Nigel Farage, revealed that the billionaire had previously urged Farage to maintain an open mind about a potential alliance with the Conservatives. This position has now been completely reversed. In an emailed statement, Harborne declared: "In the past this was possibly the case, but it is no longer the case."
Harborne simultaneously expressed his firm belief that "cryptocurrency should be regulated in the UK," aligning with Reform UK's broader platform that promises to transform Britain into a "premier hub" for digital assets. The party has pledged to slash capital gains tax on cryptocurrency from the current basic rate of 18% or higher rate of 24% down to just 10%.
Farage's Crypto Advocacy and Donation Dynamics
Nigel Farage has been vocally advocating for wider cryptocurrency adoption across Britain, even meeting with Bank of England Governor Andrew Bailey last year to express concerns that the central bank was "moving a little too slowly" on digital currency matters. Harborne confirmed that Farage was "correct" in stating the donor had requested nothing in return for his substantial financial contributions.
The aviation and cryptocurrency investor previously donated £10 million to the Brexit party to fund its 2019 election campaign. A significant portion of Harborne's fortune stems from cryptocurrency investments, including a 12% stake in Tether—one of the world's most popular stablecoins pegged to the US dollar—and holdings in its sister exchange Bitfinex.
Substantial Financial Influence and Political Impact
Harborne's latest £3 million donation to Reform UK in November, following a £9 million contribution in August, has dramatically boosted the party's fundraising efforts. Electoral Commission data shows Reform UK received £5.5 million in the final quarter of last year, far surpassing Labour's £1.9 million, the Conservatives' £2.4 million, and the Liberal Democrats' £1.3 million.
Despite Reform UK leading political polls, its popularity has slightly declined from a peak of 29% last autumn to 23% this month according to YouGov voting intention data. Harborne has also previously donated to the Conservative party and contributed £1 million to Boris Johnson's private office after the former prime minister left government.
Background and Controversies
Born in the UK but now a Thai citizen known locally as Chakrit Sakunkrit, Harborne founded aviation fuel company AML Global and holds shares in British defence firm QinetiQ. While known to be friends with George Cottrell, a close Farage aide whose family has also donated to Reform, Harborne vehemently denied Cottrell influenced his donation decisions, calling such suggestions "utter rubbish."
The scale of Harborne's contributions has reignited debates about potential caps on individual or corporate political donations. Senior Labour MPs have called for an urgent ban on cryptocurrency political donations after the Electoral Commission permitted such contributions. Reform UK became the first British political party to accept cryptocurrency donations last autumn, according to Farage.
