How Europe’s Right Wing Weaponized Crypto After Trump’s Election

What Happened

In May 2025, Reform became the first political party in the UK to accept crypto donations. Farage announced it during an appearance at the Bitcoin Conference in Las Vegas, where he was introduced as a presidential candidate.

During his speech, Farage mentioned that Reform planned on introducing a cryptoassets and digital finance bill. The legislation would seek to limit capital gains taxes on crypto to 10%.

Soon, donations from crypto investors began to flow.

In December, reports emerged that cryptocurrency investor and aviation entrepreneur Christopher Harborne had donated £9 million to the party. Harborne, a major investor in stablecoin issuer Tether, made the contribution in cash rather than in crypto.

Byline Times recently reported that, last October, Farage disclosed a £30,000 payment for a speaking engagement from Blockworks Inc., a leading crypto data and information platform with links to pro-Trump crypto investment circles.

In 2016, she pledged to ban virtual currencies, including Bitcoin. She argued they were the product of an alliance between what she described as the “ruling elite” and the powerful Wall Street investment banking lobby.

Market Context

Since US President Donald Trump positioned crypto as a central pillar of his campaign, political leaders across Europe have begun adopting a similar approach, seeking to attract crypto-aligned voters as the digital assets industry continues to expand.

Right-wing parties, in particular, have leaned into this strategy. Bitcoin’s non-sovereign nature and its emphasis on limited state intervention have made crypto especially appealing to conservative and libertarian leaders.

Why It Matters

However, its potential to obscure financial flows has also made opposition leaders wary.

Trump’s Crypto Playbook Goes Global

Details

During his 2024 campaign, Trump set a precedent by making crypto an indispensable part of his presidential agenda. The move was strategic.

Digital asset ownership has steadily increased across the United States, though its growth has been largely constrained by regulations that many in the industry viewed as stifling innovation.

At the same time, the sector proved highly lucrative, with crypto companies willing to channel millions of dollars into presidential candidates who openly supported digital assets.

Then, Trump won. Soon enough, political leaders from other regions – particularly Europe – raised their gaze and embraced a similar playbook.

The United Kingdom’s Reform Party, led by Nigel Farage, has been the most explicit example of this pivot.

Reform UK Opens Doors to Crypto

Strong links between Farage and Trump’s inner circle also began to emerge.

The media outlet also reported that Farage had received payments long before announcing his presidential candidacy.

According to journalist Nafeez Ahmed, David Bailey, chief executive of BTC Inc. and a senior cryptocurrency advisor to Trump, paid Farage a speaking fee through BTC Inc. Months later, the Reform leader unveiled his pro-crypto policy platform.

Though less emphatically, several of the UK’s neighboring countries have also begun to adjust their positions on the digital assets industry.

France’s Far Right Rewrites Stance on Bitcoin

Since the mid-2010s, France’s far-right has consistently ranked among the leading contenders in presidential elections, though it has yet to translate that momentum into presidential control.

Marine Le Pen, leader of the National Rally party, has been the most prominent figure on France’s far right. Her stance on Bitcoin and the broader crypto sector has shifted over time.

In 2022, Le Pen shifted her position, supporting plans to regulate digital assets. By 2025, she proposed that France should create them.