UK chancellor criticises Nigel Farage over Bitcoin account remark
John Healey compared the Reform Party leader to Liz Truss in a Monday speech, drawing pushback from the Bitcoin community over his use of the term "Bitcoin account".
Key points
- Chancellor of the Exchequer John Healey said Nigel Farage was "Liz Truss with a Bitcoin account" in a Monday speech.
- Healey said Labour would pursue fiscal discipline, good work and strong industries.
- Bitcoin community figures on X questioned what a "Bitcoin account" is.
- Farage has received crypto donations from Christopher Harborne and Ben Delo, and police are investigating Reform donation rules.
- Farage has backed crypto capital gains tax cuts and a Bank of England Bitcoin reserve.
UK Chancellor of the Exchequer John Healey has criticised Nigel Farage over Bitcoin, according to Bitcoin Magazine. In a Monday speech, the finance minister described the Reform Party leader as "Liz Truss with a Bitcoin account", a line aimed at the pro-crypto member of parliament.
Healey told his audience that Farage wants to be seen as a man of the people, but that on the economy he compares to Truss. Truss was the UK's shortest serving prime minister and was heavily criticised for her debt-fuelled 2022 mini budget. Healey added that his Labour Party would help the country get ahead through fiscal discipline, good work and strong industries.
The remark drew criticism from the Bitcoin community on X, where users asked what a Bitcoin account actually is. The Simply Bitcoin account wrote that the phrase was apparently now a thing and called it incredible stuff from one of the people running Britain, Bitcoin Magazine reported.
Chancellor attacks Farage
Farage has long been a pro-crypto politician. Since 2020 he has framed Bitcoin mainly as a question of personal freedom and opposition to state control of money. He has also said he was debanked by the private British bank Coutts, which led him to take more interest in digital assets.
At the Bitcoin 2025 Conference in Las Vegas last year, Farage said he would cut crypto capital gains taxes and force the Bank of England to establish a Bitcoin reserve if he became prime minister. He now leads the increasingly popular Reform Party.
Farage has come under fire this year over millions of dollars in crypto donations. The donors include tech entrepreneur and Tether investor Christopher Harborne, and Ben Delo, a founder of the now-closed BitMEX exchange. The Metropolitan Police have opened an investigation into reports that Reform broke rules against overseas donations. Reform denies wrongdoing and says it will cooperate.
Crypto community pushes back
The exchange highlights how crypto has moved into mainstream British politics. Farage's fundraising and policy promises have made digital assets a campaign issue, while the chancellor's attack shows the government is willing to use the topic against him. The police inquiry into Reform's donations keeps the scrutiny on the party's crypto-linked funding.