Two crypto billionaires donated £72 million to Reform UK, surpassing last year's total political contributions from all parties.
Massive Political Donations from Crypto Investors
In an unprecedented move, two high-profile cryptocurrency investors have donated a staggering £72 million ($97 million) to the Reform UK party, dwarfing the total political contributions from all UK parties last year.
Ben Delo, the co-founder of BitMEX, initiated this historic spree by donating £36 million, marking the largest single donation ever given to a British political entity. This contribution follows Delo's earlier donation of £8 million this year and comes with a promise of ongoing support, as he plans to contribute £1 million each month until the next general election, which could be as late as 2029.
Following Delo's Lead
Shortly after Delo's announcement, Christopher Harborne, a significant investor in Tether and currently residing in Thailand, matched the donation. Harborne cited his competitive nature for this decision and stated that he expects no rewards in return for his financial backing.
The funds are earmarked by Reform UK for expanding their campaign efforts, including hiring 400 campaign managers to enhance their electoral strategy. A party spokesperson confirmed they are gearing up for the upcoming elections with these new resources.
Notably, both donations were made through traditional currency, as the UK government has barred political contributions in cryptocurrency since March.
Political Context
This influx of funds arrives as the UK government is contemplating stricter regulations on political donations. While there are no limits on contributions from domestic donors, there are caps on gifts from overseas, particularly in light of new rules limiting large contributions from expatriates and those recently returned to the UK.
Both Delo and Harborne have faced scrutiny related to their past and current financial dealings. Delo received a presidential pardon in 2025 after pleading guilty to anti-money laundering violations, while Harborne is under investigation regarding a £5 million gift to Nigel Farage that might not have been disclosed properly.
