Record Crypto Donations Fuel Reform UK’s Campaign

Cryptocurrency billionaire Christopher Harborne has donated £36 million (US$49 million) to Reform UK, matching a £36 million contribution made by fellow crypto investor Ben Delo the previous day. The two donations provide Nigel Farage’s anti-immigration party with £72 million in less than 48 hours, creating an unprecedented level of financial support as the party prepares for Britain’s next general election, which must take place by 2029. Harborne, who is already Reform UK’s largest donor, said in an article published by The Telegraph that Delo’s donation had prompted him to contribute an equal amount. He said he expected nothing in return, including a peerage or changes to government policy, and described his objective as supporting a party he believes is ready to govern. The donations arrive as Reform UK faces allegations concerning irregularities in its funding. The party denies the allegations, but its lead in opinion polls has reportedly declined amid the controversy. The new funds are expected to help Reform campaign and attempt to regain voter support before the next election. According to Electoral Commission figures, the combined £72 million exceeds the amount spent by either the governing Labour Party or the opposition Conservatives during last year’s election campaign. Delo’s initial donation had already surpassed the previous record contribution to a British political party: the £10 million left to the Conservatives by businessman John Sainsbury, who died in 2022. The scale and timing of the donations have intensified scrutiny of Reform UK’s finances. A protest placard displayed near the Houses of Parliament in London referenced Farage and questioned the party’s donations, reflecting the political controversy surrounding the funding.

BitMEX co-founder Ben Delo has pledged £36 million (S$61.6 million) to Reform UK, the party led by Nigel Farage. The donation is reportedly the largest in British political history and will provide Reform with £1 million a month through August 2029, the latest possible date for the next general election. Delo said he made the contribution in a lump sum to avoid potential future changes to political-donation rules, including a proposed £100,000 cap on overseas gifts. He recently moved back to Britain, which could allow him to comply with eligibility requirements for donating under the proposed legislation. Delo’s contribution comes as Reform faces intense scrutiny over its campaign financing. Police are investigating donations made before the 2024 general election, as well as allegations arising from a Channel 4 News report that senior party officials discussed ways to circumvent electoral law when accepting foreign money. Reform denies wrongdoing. Farage is also under investigation by Parliament’s standards commissioner over whether he failed to disclose £5 million previously received from crypto investor Christopher Harborne. The donation significantly exceeds the previous British political record: a £10 million bequest to the Conservatives by John Sainsbury in 2022. It is also four times the largest previous donation from a living donor, Harborne’s £9 million contribution to Reform in 2025. Before Delo’s gift, Reform had raised nearly £34 million since the 2024 election, exceeding Labour and the Conservatives in declared donations. Delo, an Oxford mathematics and computer science graduate, co-founded BitMEX after working on high-frequency trading systems for JPMorgan Chase. He was convicted in the United States over inadequate anti-money-laundering controls at BitMEX and later pardoned by President Donald Trump. He says he is retired and does not expect personal gain from supporting Reform. He argued that the party needs substantial resources to prepare for government, develop policies and draft legislation, while insisting that financial support would create a “fair fight and a level playing field.”

British crypto investor Ben Delo, co-founder of cryptocurrency trading platform BitMEX, has pledged £36 million to Reform UK, giving Nigel Farage’s party what is described as the largest political donation recorded for a British political party. Delo has already contributed £8 million and plans to provide a further £1 million each month until the next UK general election, expected by mid-2029. He said the money would help Reform prepare for a possible return to government and develop detailed policies and legislation capable of competing with Labour and the Conservatives. According to the Electoral Commission’s database, the donation exceeds the £10 million previously given to the Conservatives by businessman John Sainsbury, who died in 2022. Delo explained in an opinion article for The Telegraph that his experience running a startup under intense scrutiny had influenced his decision to continue supporting Reform. He argued that the party should devote more resources to policy development and legislative preparation rather than concentrating primarily on fundraising. The announcement comes as Reform faces scrutiny over political donations and a decline in opinion-poll support after leading for much of the previous year. An undercover investigation alleged that two senior Reform aides arranged for a foreign donor to finance political polling. Police are investigating the claims, and Farage suspended the aides. Delo did not directly address the allegations in his article. Farage welcomed the donation, saying he was “honoured and humbled” by Delo’s confidence and portraying Reform as the only political force capable of reversing Britain’s decline. Delo acknowledged that donors face reputational risks while the party remains under scrutiny, arguing that successful businesspeople may hesitate to publicly associate themselves with Reform. The article also notes that Delo was convicted in the United States of violating the Bank Secrecy Act before being pardoned by US President Donald Trump.