Farage’s Reform UK gets biggest donation ever from crypto billionaire: Reports
Ben Delo, a British cryptocurrency entrepreneur and co-founder of the BitMEX exchange, donated 36 million pounds (about $49 million) to Nigel Farage’s Reform UK party, media outlets reported. The payment is being described as the largest single donation ever made to a British political party.
Why It Matters
The size and source of the gift have intensified scrutiny of crypto-linked contributions to UK politics and come amid earlier investigations and calls from lawmakers to restrict digital-asset donations. The donation could influence debates over political finance rules and any prospective moratorium on crypto donations.
Key Facts
- donation amount: 36 million pounds (~$49 million)
- recipient: Reform UK (Nigel Farage's party)
- donor: Ben Delo, co-founder of BitMEX
- reporting: Reported by the DPA and other media outlets
- donor-stated-purpose: Delo said the gift was to ensure a 'fair fight' at the polls (as reported)
British crypto entrepreneur Ben Delo has given 36 million pounds to Nigel Farage’s Reform UK, a transfer media outlets described as the largest single donation to a UK political party. Delo, who helped found the BitMEX cryptocurrency exchange, told reporters he made the contribution to help create a level electoral contest.
Reform UK’s leader welcomed the payment, saying Delo’s support showed confidence in the party. Delo had previously ranked as one of the party’s top backers; before this gift he was the second-biggest donor behind Christopher Harborne, who gave 9 million pounds last August.
The donation lands amid ongoing scrutiny of contributions linked to the crypto sector. Earlier reports said Farage faced inquiries over donations and gifts from figures tied to digital assets, including Harborne and George Cottrell, and those links prompted debate among lawmakers about the influence of the industry on UK politics. Farage resigned his seat in Parliament in July amid the controversy and subsequently won the resulting by-election with 63% of the vote.
Reports also say the Telegraph calculated the 36 million pound sum would equate to roughly 1 million pounds per month until a prospective 2029 general election; Delo reportedly paid the full amount up front to prevent potential blocking. Delo and two fellow BitMEX co-founders previously pleaded guilty in the United States to violations of the Bank Secrecy Act, and he agreed to pay a $10 million fine in 2022; none of the trio served prison time and they received a pardon from US President Donald Trump in March 2025.
The scale and provenance of the donation have renewed calls within parts of Parliament for stricter limits or a permanent ban on crypto-related political contributions, a debate that UK lawmakers were already considering in light of earlier moratoria and pending legislation.
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Original source: Cointelegraph