Reform UK receives record £36m donation from crypto tycoon Ben Delo
Cryptocurrency billionaire Ben Delo has given Reform UK a record-shattering £36 million upfront donation, drawing intense scrutiny from political opponents.
Reform UK has secured the largest single donation in British political history, receiving a massive financial injection from cryptocurrency tycoon Ben Delo.
The monumental £36 million transfer shatters previous records for political gifting in the United Kingdom. According to reporting by the Mirror, the sum was front-loaded by Delo to cover what would have otherwise been monthly instalments running up to the latest possible date for the general election in 2029.
Media additions
Delo, a co-founder of the BitMEX cryptocurrency platform, was convicted in the United States for failing to implement adequate anti-money laundering controls before receiving an unconditional pardon from US President Donald Trump. Writing in the Daily Telegraph, Delo argued that his financial intervention was necessary to challenge what he characterised as an entrenched political cartel.
"Unlike the people who express mock concern for the health of 'our democracy' while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field."
Ben Delo, Crypto Tycoon, via Yahoo News
Party leader Nigel Farage welcomed the windfall, expressing gratitude for the billionaire's backing.
"I am honoured 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."
Nigel Farage, Reform UK Leader, via Yahoo News
LBC noted that the donation completely dwarfs previous political war chests, arriving as Reform attempts to steady its footing following a series of damaging headlines. The party has faced intense public scrutiny following an undercover media investigation that prompted the Metropolitan Police to launch a full criminal inquiry into alleged breaches of electoral laws concerning foreign donations.
| Donor | Party | Amount | Context |
|---|---|---|---|
| Ben Delo | Reform UK | £36 million | Single upfront payment made to fund operations up to the 2029 general election. |
| Christopher Harborne | Reform UK | £9 million | Previous record-setting single donation from a living individual, given in August. |
| John Sainsbury | Conservative Party | £10 million | Previous all-time record held as a posthumous legacy bequest. |
The timing of Delo's contribution has electrified opposition politicians. Lawmakers recently backed draft legislative measures to cap overseas donations at £100,000 and suspend cryptocurrency funding altogether. HuffPost UK reported that civil society groups and opposition spokespersons condemned the transaction as an obscene escalation of the billionaire arms race in British politics.
Liberal Democrat Cabinet Office spokesperson Lisa Smart did not mince words regarding the implications of the gift.
"Nigel Farage wants to bring Trump’s America to our shores by buying his way into power. He’s trying to get into Number 10 as if it’s a stop on a monopoly board."
Lisa Smart, Liberal Democrat Cabinet Office Spokesperson, via Metro
Meanwhile, The Guardian highlighted concerns raised by Labour MP Stella Creasy, who urged the government to use the upcoming legislative stages in the House of Lords to close loopholes and set a hard cap on domestic donations.
What to Watch Next
- The Representation of the People Bill is scheduled for its second reading in the House of Lords, where peers will debate tighter restrictions on overseas and cryptocurrency donations.
- Metropolitan Police detectives continue their criminal investigation into allegations that Reform figures attempted to skirt electoral rules regarding foreign sources.
- Parliament’s standards watchdog proceeds with its separate inquiry into an undeclared personal gift of £5 million given to Nigel Farage by Christopher Harborne.
