Ben Delo, a British billionaire and co-founder of the cryptocurrency exchange BitMEX, has donated £36 million ($49 million) to Nigel Farage’s Reform UK party. Media outlets, including the DPA, reported that this marks the largest single donation ever made to a UK political party.
Record-breaking donation and its political impact
Ben Delo stated that his motivation for contributing such a substantial amount was to guarantee a “fair fight” in the upcoming elections. Reform UK leader Nigel Farage expressed appreciation for the donation, highlighting Delo’s trust in the party’s vision.
I am honored and humbled that Ben Delo has shown such confidence in Reform. Ben knows that we are the only party that can turn the country around and reverse Britain’s decline.
Prior to this donation, Christopher Harborne had been Reform UK’s largest backer, giving £9 million in August of the previous year. Delo’s recent contribution now places him as the party’s top financial supporter.
According to a report by The Telegraph, the donation equates to a monthly sum of £1 million to be disbursed until the next scheduled general election in 2029. However, Delo opted to transfer the total amount upfront, reportedly to avoid the risk of the funds being withheld under regulatory challenge.
| Donor | Amount Donated | Period |
|---|---|---|
| Ben Delo | £36 million | 2024 (lump sum) |
| Christopher Harborne | £9 million | 2023 (August) |
Crypto connections draw scrutiny
Ben Delo co-founded BitMEX, a major global crypto derivatives trading platform established in 2014. His prominent involvement with digital assets has intensified scrutiny over the influence of crypto-linked funding in British politics.
Last month, Cointelegraph reported that Nigel Farage, a former Brexit campaigner and current leader of Reform UK, faced an investigation after receiving millions in donations and gifts connected to figures in the crypto sector, notably Christopher Harborne and George Cottrell.
The influx of crypto-related contributions has prompted heightened concerns among lawmakers. In July, Labour MPs were reportedly reviewing whether a temporary ban on crypto donations introduced in March should become permanent, citing Farage’s acceptance of significant gifts from Harborne and Cottrell.
Amid this scrutiny, a UK lawmaker resigned as Member of Parliament in July, igniting a by-election that saw Farage secure victory with 63% of the vote. The win placed him ahead of satirical contender Count Binface.
Mini dictionary: BitMEX is a cryptocurrency derivatives exchange known for offering leveraged trading in digital asset contracts. It operates globally and was one of the first to popularize crypto perpetual swaps.
Delo’s regulatory history
In previous years, US authorities charged Ben Delo and BitMEX’s other co-founders, Arthur Hayes and Samuel Reed, with violations of the Bank Secrecy Act. Delo pleaded guilty and agreed in 2022 to pay a $10 million fine. None of the executives served prison time. In March 2025, US President Donald Trump issued pardons to all three.
Delo did not serve time in prison and received a pardon alongside Arthur Hayes and Samuel Reed in March 2025.
Broader implications for UK politics
The record-breaking donation fuels ongoing debates about the regulation of digital asset contributions in British political campaigns. Lawmakers continue to weigh the potential risks and policy responses to large-scale financial backing from figures prominent in the crypto sector.
