Reform UK gets $97 million from two crypto billionaires
Reform UK receives $97 million from crypto billionaires
Reform UK, the British political party led by Nigel Farage, has received £72 million ($97 million) from two cryptocurrency billionaires. The donations came from Ben Delo, a co-founder of the BitMEX crypto exchange, and Christopher Harborne.
Harborne announced his £36 million contribution on Saturday, a day after Delo announced the same amount. Reports describe the two donations as jointly the largest ever made to a British political party.
Key donation numbers
- Total donations: £72 million ($97 million).
- Ben Delo: £36 million.
- Christopher Harborne: £36 million, announced on Saturday.
- Harborne also gave £9 million to Reform UK in August 2025.
Donors and Farage explain the payments
Harborne wrote in The Telegraph that Delo’s contribution inspired him to match it. He said he expected nothing in return: “No peerage, no policy change, just a party that is ready for government.”
Delo, who co-founded BitMEX, said he made the donation to ensure a “fair fight” at the polls. Delo told The Telegraph that his £36 million represented £1 million each month until the next general election in 2029. He said he paid the full amount up front to prevent it from being blocked.
Farage welcomed both donations, saying the funding would allow Reform UK to contest the next general election on a “level playing field.”
Crypto funding scrutiny around Farage
Reform UK has already faced questions about crypto-related money. Cointelegraph reported last month that Farage was under investigation after receiving millions of dollars’ worth of donations and gifts from Harborne and George Cottrell. Farage has denied wrongdoing.
Farage resigned as a member of Parliament in July amid the scandal. He later won the resulting by-election with 63% of the vote, ahead of satirical candidate Count Binface. Lawmakers have raised concerns about the influence of digital assets on UK politics.
In July, Labour MPs were reportedly considering making a moratorium on crypto donations permanent. The moratorium was announced in March, pending legislation, and was proposed in response to what Farage called “gifts” from Harborne and Cottrell.
Ben Delo’s past US conviction and pardon
Delo was one of three BitMEX co-founders who pleaded guilty to US federal charges related to violations of the Bank Secrecy Act. He agreed to pay a $10 million fine in 2022 and did not serve time in prison. Delo and his colleagues Arthur Hayes and Samuel Reed were pardoned by US President Donald Trump in March 2025.
What is confirmed and what remains unclear
It is confirmed that both donors announced large payments and that Farage welcomed them. It is also confirmed that Harborne previously donated £9 million in August 2025 and that Delo has a guilty plea, a $10 million fine, and a pardon on record.
It remains unclear whether the reported investigation into Farage is still active or what its outcome will be. The claim that these are the largest donations ever made to a British political party comes from reports, not from an official record.
Why the donations matter
The donations are described as the largest ever made to a British political party. The report also says the contributions tied to crypto have raised questions from many lawmakers about the influence of digital assets on UK politics.
