Ben Delo, a co-founder of the global cryptocurrency exchange BitMEX, has revealed that he donated a total of £4 million to the UK political party Reform UK. The high-profile figure in fintech and digital assets announced his support in an opinion piece, bringing significant attention to the surge in private funding for the party.
Donation format and legal procedures
Delo said his contributions since the beginning of this year are intended to boost Reform UK’s standing as a prominent political alternative. While the specific currency used for the donations remains unclear, Delo underlined his backing for government plans to introduce restrictions on political donations made with crypto assets. He argued that, given the complex regulatory environment, ensuring proper oversight of crypto-based political gifts could be challenging.
According to the latest guidelines from the UK Electoral Commission, cryptocurrency donations are not explicitly banned under the country’s election laws. However, such contributions are categorized as “non-cash donations” and must be recorded at their Sterling value upon receipt. Parties are obligated to verify the identity and eligibility of donors for any contribution exceeding £500.
Political decisions and industry impact
At the end of last month, Prime Minister Keir Starmer’s government announced a suspension of new political donations made using crypto assets. Officials said the moratorium was imposed out of concern that digital assets could complicate transparency regarding the source and purpose of political donations, placing all crypto-related transfers under the restriction.
The measure is seen as part of a broader policy initiative that treats digital payments primarily as a democratic vulnerability rather than a financial risk. The government’s proposed freeze could apply retroactively to contributions made after March 25, 2026. However, as of now, no legal changes have officially come into effect regarding crypto donations.
So far, the announced donations have not yet appeared in official records. The Electoral Commission’s data currently does not list any political contributions linked to Delo or BitMEX.
Delo has not addressed detailed questions from the public about the donations. On the other hand, Nigel Farage, one of Reform UK’s most prominent leaders, expressed his gratitude via social media, noting that high-profile individuals like Ben Delo are increasingly showing interest in the party.
Other business figures who have invested in the crypto sector have also financially supported Reform UK. Last December, Thai-based billionaire Christopher Harborne—who holds stakes in stablecoin issuer Tether and cryptocurrency exchange Bitfinex—contributed £9 million to the party.
Ben Delo is recognized as one of the founding partners of BitMEX and is well known for his initiatives in the global cryptocurrency markets. His expertise and contributions in the fields of financial technology and digital assets have made him a standout figure in the industry.
