SKN | Farage’s Reform UK Receives $97M From Two Crypto Billionaires

Key Points

• Reform UK received a combined £72 million ($97 million) from crypto billionaires Ben Delo and Christopher Harborne, making the contributions jointly the largest ever donations to a British political party.
• Delo donated £36 million to Nigel Farage’s party, with Harborne matching the amount a day later after saying Delo’s contribution inspired his own.
• The donations come amid continued scrutiny of cryptocurrency-linked political funding in the UK and previous investigations involving Farage and crypto industry figures.

Crypto Billionaires Deliver Record Funding to Reform UK

Nigel Farage’s Reform UK party has received £72 million ($97 million) from two cryptocurrency billionaires, creating one of the largest political funding events in modern British politics.

Ben Delo, co-founder of cryptocurrency exchange BitMEX, announced a £36 million contribution to Reform UK, followed a day later by an identical donation from Christopher Harborne.

Together, the donations represent the largest contributions ever made to a British political party.

Harborne previously donated £9 million to Reform UK in August 2025. Explaining his latest contribution in The Telegraph, he said Delo’s donation motivated him to match the amount.

Harborne said he expected no personal benefit from the contribution, describing his motivation as support for a political party he believed was prepared to govern.

Delo Says Donation Was Designed to Ensure a “Fair Fight”

Delo said his contribution was intended to help ensure a “fair fight” at the next election.

The £36 million payment was structured as the equivalent of £1 million per month until a general election expected in 2029. However, Delo said he transferred the entire amount upfront because he was concerned that future payments could be blocked.

Farage welcomed both contributions, saying the funding would allow Reform UK to compete in the next general election on what he described as a level playing field.

The scale of the donations gives Reform UK substantial financial resources ahead of the next national election and highlights the growing role of wealthy cryptocurrency industry participants in British political financing.

Crypto Funding Draws Political Scrutiny

The donations arrive amid an ongoing debate in the UK over cryptocurrency-linked political contributions.

Farage was previously investigated after receiving millions of dollars’ worth of donations and gifts from crypto industry figures including Harborne and George Cottrell. Farage has denied wrongdoing.

The controversy also contributed to Farage’s resignation as a member of Parliament in July. His departure triggered a closely watched by-election, which he subsequently won with 63% of the vote.

The growing value of cryptocurrency-linked political contributions has prompted questions among lawmakers about whether digital-asset wealth could create disproportionate influence over British politics.

In July, Labour MPs were reportedly considering making permanent a moratorium on crypto donations that had been announced in March, pending legislation.

Delo’s Political Donation Follows BitMEX Legal History

Delo’s political contribution also comes years after legal proceedings involving his cryptocurrency business.

Delo was one of three BitMEX co-founders who pleaded guilty in the United States to federal charges related to violations of the Bank Secrecy Act.

He agreed to pay a $10 million fine in 2022 but did not serve a prison sentence. Delo, Arthur Hayes and Samuel Reed later received presidential pardons from US President Donald Trump in March 2025.

The history adds another dimension to scrutiny surrounding the growing involvement of major cryptocurrency figures in political funding.

Outlook

The £72 million combined contribution gives Reform UK significant financial backing while intensifying debate over the role of cryptocurrency wealth in British politics. The donations also come as lawmakers consider whether existing political-financing rules adequately address large contributions from digital-asset entrepreneurs and investors. With further legislation potentially affecting crypto donations, the issue is likely to remain politically contentious ahead of the next UK general election.