Crypto-billionaire gives Farage’s Reform UK record £36mil donation

A cryptocurrency billionaire has donated a record £36 million to Nigel Farage's Reform UK party, marking the largest single political donation in British history. Despite the party facing several funding scandals, Ben Delo, co-founder of the BitMEX cryptocurrency exchange, announced the donation in a Daily Telegraph article. Delo expressed his desire for a fair fight and level playing field, stating that he wanted to give Reform £1 million a month until the next general election, leading to the front-loaded £36 million payment.

The 42-year-old crypto-magnate, who pleaded guilty to a Bank Secrecy Act violation in 2022 and was pardoned by Donald Trump in 2025, aims to help Reform prepare for government. Delo, based in Hong Kong, plans to relocate back to Britain due to a proposed cap on foreign donations. This donation surpasses the previous record of £9 million set by another crypto-billionaire, Christopher Harborne, in the same year.

The Reform party, founded in 2021 from Farage's pro-Brexit campaign, has seen its lead slip to Labour in recent months amid funding controversies. Prime Minister Andy Burnham's potential rise to power has also bolstered Labour's prospects. The donation comes days after police widened an investigation into allegations of illegal donations by Reform, increasing pressure on Farage, who has been under intense scrutiny over his party's financial arrangements and a separate £5 million gift from Harborne.

Farage has consistently denied any wrongdoing and described the donation as a confidence boost for the party.