Crypto Billionaire Gives Reform UK Its Largest-Ever Political Donation

British crypto billionaire Ben Delo has given 36 million pounds, roughly $49 million, to Nigel Farage’s Reform UK party, marking the largest donation ever made to a British political party. Delo, who co-founded the BitMEX cryptocurrency exchange, said the money was meant to ensure a “fair fight” at the polls. Farage called himself “honored and humbled” by the gesture, adding that Reform is the only party capable of reversing the country’s decline.

Second Major Crypto Donor to Back Reform UK

Delo now surpasses billionaire Christopher Harborne as Reform’s top donor, after Harborne previously gave 9 million pounds to the party. Both men have ties to the crypto industry, and Farage was reportedly investigated last month over donations and gifts received from Harborne and another crypto-linked figure, George Cottrell.

Farage’s Crypto Ties Spark Political Backlash

The scandal led Farage to resign his parliamentary seat in July, triggering a by election he won with 63 percent of the vote. Some Labour lawmakers have since pushed to make a temporary ban on crypto donations permanent.

Payment Structured to Avoid Being Blocked

Reports indicate the donation was structured as the equivalent of 1 million pounds a month through the 2029 general election, but Delo paid the full amount upfront to prevent it from being stopped by regulators.

Delo’s Past Legal Trouble With BitMEX

Delo was among three BitMEX co-founders who pleaded guilty to US federal charges tied to Bank Secrecy Act violations. He paid a $10 million fine in 2022 and avoided prison, later receiving a pardon from President Donald Trump in March 2025.