Summary

  • BitMEX co-founder Ben Delo made a historic donation of £36 million to Reform UK on Friday, marking the largest single political contribution in the UK.
  • The following day, Tether investor Christopher Harborne matched Delo's donation, citing his competitive nature.
  • The total £72 million donation surpasses the combined £69 million received by all UK political parties last year.

In a remarkable turn of events, two prominent figures in the cryptocurrency world have collectively donated £72 million ($97 million) to Nigel Farage's Reform UK party within just two days, exceeding the total amount raised by every British political party in the previous year.

Ben Delo, co-founder of BitMEX, initiated this wave of donations by contributing £36 million, as reported by the Telegraph on Friday. This donation is not only the largest single contribution ever made to a British political party but also significantly surpasses the £8 million he had already donated earlier this year.

Delo plans to provide an ongoing contribution of £1 million each month until the latest possible election date in 2029, opting to pay the total upfront to avoid potential future restrictions on large donations.

Harborne Follows Suit

The following day, Christopher Harborne, a Tether investor based in Thailand, matched Delo's donation. He revealed his motivation for this contribution was his "competitive spirit," stating in the Telegraph that he expected nothing in return.

Reform UK has indicated that these funds will be used to recruit top talent for policy development and to employ 400 campaign managers, one for each targeted electoral seat. A spokesperson for the party announced that they are now fully prepared for the upcoming election.

It is noteworthy that neither Delo's nor Harborne's recent donations were made using cryptocurrency, as the UK government prohibited such political contributions in March.

This influx of donations comes at a time when the UK government is considering stricter regulations on political funding. While there are no limits on contributions from UK-based donors, Labour has imposed a £100,000 cap on gifts from Britons residing abroad and plans to apply the same limit to recent returnees. Since March, donors must have been on the electoral register for 12 months to contribute over £100,000 in a single year. Delo, originally from Sheffield, plans to return from Hong Kong.

Both Delo and Harborne have faced scrutiny in the past. In 2025, U.S. President Donald Trump pardoned Delo, who had pleaded guilty in 2022 to violations related to anti-money laundering at BitMEX. Meanwhile, the Parliamentary Commissioner for Standards is examining whether Farage should have disclosed a £5 million personal gift from Harborne.