Here’s what happened in crypto today

Today in crypto, Reform UK chair Lee Anderson called for an investigation into a political donation linked to former FTX CEO Sam Bankman-Fried, while the US Senate pushed its vote on the CLARITY Act to September. Meanwhile, First Digital CEO Vincent Chok said the delay could give Hong Kong and Singapore more time to strengthen their positions as digital asset hubs.

Reform UK chair seeks probe into SBF-linked political donation

Reform UK chair Lee Anderson is calling for a parliamentary investigation into a reported $50,000 political donation with ties to former FTX CEO Sam Bankman-Fried.

The money was reportedly given to UK Defense Secretary Wes Streeting in 2022 and 2023 by Labour for the Long Term, a think tank whose founder had previously received $675,000 from Bankman-Fried. Streeting reportedly requested the organization’s donor list before accepting the funds, but Bankman-Fried was not listed. The think tank’s founder said Streeting’s contribution came from another donor and denied receiving donations from Bankman-Fried or the FTX Foundation.

The dispute comes as Reform leader Nigel Farage prepares for a by-election following his resignation from Parliament amid a separate controversy involving millions of dollars in crypto-linked contributions. The cases are drawing renewed attention to UK political finance rules that critics say can obscure the original sources of some donations.