Reform UK Chair Demands Investigation Into Mysterious SBF-Linked Donation—What Are They Hiding?

Ever wondered if the tangled web of crypto scandals and political donations could get any messier? Just when you think the saga of Sam “SBF” Bankman-Fried had hit its peak, news surfaces involving a $50,000 donation linked to the ex-FTX CEO—and it’s stirring a hornet’s nest right in the heart of UK politics. Reform UK’s chairman Lee Anderson isn’t holding back, urging a full probe into how funds flowed from a think tank funded indirectly by Bankman-Fried to Defense Secretary Wes Streeting. And if political drama weren’t enough, the plot thickens with Reform leader Nigel Farage stepping down amid his own crypto-related controversies, proving that where there’s crypto cash, there’s bound to be fire. What does this say about the loopholes in campaign financing and our democracy’s susceptibility to “dark money”? It’s a gnarly situation that’ll keep shaking political foundations on both sides of the pond. Curious about the full scoop and what it means for future crypto-political entanglements? LEARN MORE.

The chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried.

According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported $50,000 in donations from a think tank in 2022 and 2023. The reported donations came from Labour for the Long Term, whose founder reportedly accepted a $675,000 gift from Bankman-Fried before sending funds to Streeting.

Notably, Reform leader Nigel Farage is set to face voters next week in a by-election triggered by his resignation as a member of parliament amid his own crypto scandal. The UK politician received $6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino. Farage claimed that the contributions were “gifts.”

Under UK law, unincorporated associations are permitted to give more than $675 directly to politicians, according to the International Bar Association. The regulations offer a loophole for companies with business in the UK to be used as “conduits for foreign or dark money” to lawmakers without reporting the source of the funds.

According to the Telegraph, Streeting asked Labour for the Long Term for a list of its donors before accepting the $50,000, but Bankman-Fried’s name was not included. The defense secretary reportedly said that he had never had any contact with the former FTX CEO, who is currently serving 25 years in prison after his conviction on seven felony charges.

David Lawrence, who founded the think tank, said Streeting’s contribution was funded by a donor other than the former CEO, and that Labour for the Long Term ”did not receive any donations from the FTX Foundation or Mr. Bankman-Fried,” according to the Telegraph.

US court issues mandate upholding SBF’s conviction

Earlier this week, the US Court of Appeals for the Second Circuit issued a formal mandate upholding Bankman-Fried’s felony conviction and 25-year sentence.

The appeals court announced its ruling in June, giving the former CEO fewer legal routes to seek a potential early release from prison. Bankman-Fried still has the option of appealing to the US Supreme Court or waiting for a potential presidential pardon from Donald Trump.

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