Crypto Billionaires Hand Reform UK $97M in Record Donations
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Written by
Simonas Brazionis - Updated 2026-09-13 06:04:16
Two cryptocurrency billionaires have contributed a staggering £72 million ($97 million) to Nigel Farage's Reform UK party. This amount significantly surpasses the total donations received by all British political parties last year, marking a substantial financial boost for Reform UK.
The substantial funding, disclosed over two days, includes contributions from Ben Delo, co-founder of BitMEX, and Christopher Harborne, a Tether investor. Their donations highlight a new era of political financing in the UK.
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Key Donors and Their Contributions
Ben Delo initiated the donations with £36 million, announced on Friday. This contribution is the largest single donation ever made to a British political party and quadruples his previous £8 million donation this year. Delo plans to provide £1 million monthly until 2029, with an upfront payment strategy to preempt potential government caps on large donations.
Christopher Harborne matched Delo's donation on Saturday. Harborne, who has previously given Reform £15 million, cited a “competitive spirit” as his motivation and stated he expects no personal benefits. Reform UK plans to use the funds to recruit policy experts and 400 campaign managers, preparing for an election.
Regulatory Context and Donor Scrutiny
Neither Delo's nor Harborne's recent or past donations were made in cryptocurrency, as Britain prohibited crypto political donations in March. These contributions come as the government considers stricter regulations on political funding. While there is no current limit on donations from UK-based individuals, the Labour party has imposed a £100,000 cap on gifts from Britons residing overseas.
Since March, donors must have been on the electoral register for 12 months to contribute over £100,000 annually. Delo, originally from Sheffield, has indicated he will return from Hong Kong. Both individuals have faced prior scrutiny, with Delo receiving a pardon from Donald Trump in 2025 following a 2022 guilty plea for anti-money laundering failures.
Investigations into Reform UK Funding
The Parliamentary Commissioner for Standards is investigating whether Farage should have declared a £5 million personal gift from Harborne. These donations coincide with a criminal investigation into Reform UK's funding, though this probe does not concern either Delo's or Harborne's gifts.
The Metropolitan Police initiated an inquiry into allegations from Channel 4 footage concerning discussions by two senior aides about circumventing foreign money bans. This inquiry is integrated into an existing investigation into payments received before the last election. Reform UK has denied any wrongdoing and affirmed its full cooperation with the investigation.
