Summary
In the first quarter of 2026, Nigel Farage’s Reform UK party received $9.4 million (£7 million) in donations from cryptocurrency billionaires Christopher Harborne and Ben Delo, surpassing the total contributions received by both the Conservative and Labour parties.
Christopher Harborne, who is recognized as the sixth-richest individual in the UK with a net worth of $24.4 billion (£18.2 billion), made a £3 million donation to Reform UK on January 23. Harborne, a long-time resident of Thailand, holds a 12% share in Tether and has become one of the party's key supporters. Notably, he previously donated £9 million to Reform UK in 2025, marking the largest political donation from a living donor in the UK.
Ben Delo, co-founder of the BitMEX exchange, contributed £4 million through two separate donations in January and March. Delo, who recently returned to the UK from Hong Kong, had pleaded guilty in 2022 to breaching the U.S. Bank Secrecy Act by not implementing anti-money laundering measures at BitMEX. He received a pardon from Donald Trump last year.
These contributions helped Reform UK achieve a £9.3 million fundraising total for the quarter, outpacing the Conservative Party's £6 million and Labour's £4.1 million. Overall, political parties in the UK reported receiving £24 million in donations during the first quarter of 2026, with Harborne and Delo's contributions accounting for 28% of that total.
This surge in donations from crypto billionaires follows the UK government’s announcement of a moratorium on crypto political donations and restrictions on overseas contributions from British expats, which stemmed from the government-commissioned Rycroft review.
Before the moratorium, Reform UK was the only significant UK political party to accept cryptocurrency donations, although neither Harborne nor Delo provided their contributions in crypto.
Harborne stated that he was “the reason” for the cap on overseas donations, suggesting it could be legally challenged and that he might return to the UK to circumvent it.
Advocates for campaign finance reform have highlighted these donations as indicative of deeper issues. Olly Buston, chief executive of Clean Up Westminster, commented, "When a small group of wealthy donors can contribute millions to support their preferred politicians and causes, it’s no wonder that people feel the political system is rigged against them," adding that, "The affluent should not be able to amplify their voice in our democracy."
Reform UK has positioned itself as a strong proponent of cryptocurrency within British politics, with party leader Nigel Farage declaring his intent to be a “champion” for digital currencies in October 2025. The party has embraced pro-crypto policies, including plans for a crypto strategic reserve and reducing capital gains taxes on cryptocurrency earnings.
Farage is currently under investigation by the parliamentary standards committee regarding whether he appropriately disclosed a separate £5 million gift from Harborne. During a session of prime minister’s questions, UK Prime Minister Keir Starmer accused Farage of “evading questions” about this gift.
Farage previously asserted that he was “not obligated” to disclose the gift, claiming it had been legally vetted. Initially, he mentioned that the donation was intended for his personal security, but later referred to it as a “reward” for his campaigning during Brexit.