London, September 12, 2026 — Reform UK has secured a record £36 million political donation from British cryptocurrency entrepreneur Ben Delo, giving Nigel Farage’s party a major financial boost as it prepares for the next UK general election and faces continued scrutiny over political funding.
Delo, co-founder of cryptocurrency trading platform BitMEX, said the money would be provided at a rate of about £1 million a month through the period leading up to the next national election, which is expected by mid-2029. He said his objective was to give Reform UK what he described as a “fair fight” with Labour and the Conservatives.
The announcement came as Reform faces scrutiny over allegations concerning political donations and overseas funding. The Metropolitan Police has opened an investigation into allegations involving the party’s finances, while Reform has said it will cooperate with the inquiry.
The financial development also quickly grew beyond Delo’s contribution. On September 12, fellow cryptocurrency entrepreneur Christopher Harborne announced a matching £36 million donation, bringing the two-day total announced for Reform UK to £72 million.
Delo Says He Wants to Help Reform Prepare for Government
Delo said his contribution was intended not simply to fund campaigning but to help Reform develop the capacity to govern.
Reuters reported that Delo said he wanted to ensure a “fair fight” between Reform and Britain’s two main established parties.
Reform leader Nigel Farage welcomed the contribution.
“I am honoured and humbled that Ben Delo has shown such confidence in Reform.”
Farage said Delo’s contribution demonstrated confidence in the party’s political direction.
The donation gives Reform access to financial resources on a scale significantly larger than previous individual contributions to UK political parties.
Who Is Ben Delo?
Delo is a British cryptocurrency entrepreneur and co-founder of BitMEX, a cryptocurrency trading platform.
His political donations have increased substantially during 2026. Electoral Commission records show that he gave Reform UK £2 million in January and another £2 million in March, bringing his recorded contributions for the first quarter to £4 million.
The Electoral Commission subsequently reported that Reform UK received more than £5.4 million in accepted donations during the second quarter of 2026, with Delo accounting for a substantial share of that funding.
Delo was convicted in the United States in 2022 over a violation of U.S. banking-secrecy requirements related to anti-money-laundering controls at BitMEX. He was later pardoned by former U.S. President Donald Trump.
Reform’s Funding Comes Under Scrutiny
The announcement arrives during an unusually intense period of scrutiny of Reform UK’s finances.
The Metropolitan Police is investigating allegations concerning possible breaches of rules governing overseas political donations. Reform has denied wrongdoing and said it will cooperate with the investigation.
Separately, Farage has faced a parliamentary standards inquiry involving a previously undisclosed £5 million gift from Harborne. The allegations and investigations do not establish wrongdoing, and the relevant processes remain separate from Delo’s newly announced contribution.
That distinction is important because the legality and admissibility of individual political donations depend on UK electoral law and the donor’s circumstances.
New Rules Tighten Restrictions on Overseas Donations
The timing of the donation is also significant because the UK government has introduced measures designed to restrict the influence of overseas money in British politics.
Government proposals announced in March 2026 include a £100,000 annual cap on political donations by overseas electors and a moratorium on cryptocurrency donations. The government said the measures would apply retrospectively from March 25, 2026, subject to the legislative process.
The government later said individuals who move to the UK from abroad would also face restrictions for a defined period, intended to prevent people from circumventing the rules by relocating to Britain before making large political contributions.
These rules make the circumstances surrounding major political donations increasingly important, particularly where a donor has previously lived outside the UK.
Harborne Matches the £36 Million Contribution
Within a day of Delo’s announcement, Harborne said he would match the £36 million contribution.
Harborne, another major cryptocurrency investor and previously one of Reform UK’s largest donors, said his decision was partly motivated by Delo’s contribution.
According to Reuters, Harborne said his competitive instinct encouraged him to match the record donation. The two contributions together represent £72 million in newly announced funding within roughly 48 hours.
The development substantially changes the financial landscape surrounding Reform UK as the party seeks to strengthen its organization before the next general election.
What the Donations Could Mean for UK Politics
Large political donations can provide parties with resources for campaigning, staffing, research, communications, polling and organizational development.
For Reform UK, the additional funding comes while the party is seeking to establish itself as a major force in British politics.
The scale of the contributions is also likely to intensify debate over whether wealthy individuals should be able to provide such large sums to political parties.
Critics of large political donations argue that very wealthy donors can gain disproportionate influence over political parties. Supporters of unrestricted political giving generally argue that individuals should be able to support parties and political causes within the law.
The debate is particularly significant because the government is already pursuing changes to political-finance rules intended to reduce the potential influence of overseas money.
A Major Financial Test for Reform UK
Delo’s announcement gives Reform UK a significant financial advantage as it prepares for the next general election.
However, the money also comes with greater scrutiny.
The party will need to demonstrate that its funding arrangements comply with Britain’s political-finance rules, particularly as new restrictions on overseas donations are being introduced.
Meanwhile, the matching contribution from Harborne means the political significance of the announcement has expanded beyond a single donor.
With £72 million in announced contributions from two cryptocurrency entrepreneurs in two days, Reform UK has received one of the most substantial financial boosts in modern British political history.
The next question will be how the party uses the money—and whether the scale of the funding changes the wider debate over political donations, electoral influence and the role of wealthy individuals in British democracy.
FAQ
Who is Ben Delo?
Ben Delo is a British cryptocurrency entrepreneur and co-founder of BitMEX. He has become a major political donor to Reform UK during 2026.
How much did Ben Delo give Reform UK?
Delo announced a £36 million contribution, structured at approximately £1 million per month ahead of the next UK general election.
Why did Ben Delo donate to Reform UK?
Delo said he wanted to help create a “fair fight” between Reform UK and Britain’s established major parties and help the party prepare for government.
How much money has Reform UK received from Delo and Harborne?
On September 11, Delo announced £36 million. On September 12, Christopher Harborne announced another £36 million, bringing the two announced contributions to £72 million.
Is Ben Delo’s donation legal?
The legality of a political donation depends on the donor’s eligibility and the applicable UK electoral rules. The UK government has introduced new restrictions concerning overseas electors and political donations, making the donor’s residency and electoral status relevant.
Is Reform UK under investigation?
Yes. The Metropolitan Police has opened an investigation concerning allegations about potential breaches of rules governing overseas donations. Reform UK has said it will cooperate with the investigation. An investigation or allegation does not itself establish wrongdoing.
