Tether Stake Propels Harborne to Sixth Among UK’s Richest
Christopher Harborne emerged as a major cryptocurrency investor through a contrarian bet made after the 2016 hack of Bitfinex. The British businessman bought BFX tokens issued to compensate customers for their losses and later converted the holdings into equity. That transaction ultimately gave him a significant interest in Tether, the issuer of USDT, linking his fortune to the growth of the world’s leading dollar-backed stablecoin.
Harborne now owns about 12% of Tether, a stake that has surged in value as USDT’s circulation expanded and the company’s valuation climbed. His wealth is estimated at £18.2 billion, placing him sixth among the richest people in Britain. The ascent traces back to his investment during Bitfinex’s 2016 crisis, when discounted recovery tokens offered an unusually risky route to equity in the businesses behind the exchange and stablecoin issuer.
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The history behind this eventTether Shareholder’s £5 Million Gift to UK Politician Flagged as Suspicious Transaction
Christopher Harborne is a major shareholder in stablecoin issuer Tether and a UK political donor. He gave former Reform UK leader Nigel Farage a £5 million gift, raising concerns about political-finance transparency and declarations of interest because of its size and the ties between a cryptocurrency businessman and a politician.
The bank that handled the £5 million payment filed a suspicious activity report, or SAR, with UK authorities in May. An SAR is a risk report that financial institutions are legally required to file and does not in itself constitute a finding of criminal conduct. The UK Parliament is investigating whether Farage declared the gift as required and is reviewing the related compliance procedures.
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