A Crypto-billionaire has donated £36 million to Nigel Farage’s Reform UK party. The donation is reportedly the largest single gift in British political history.
Ben Delo, co-founder of cryptocurrency exchange BitMEX, announced the donation on Friday. He explained his decision in an article published by The Daily Telegraph.
Delo said Reform lacked the long-term financial support enjoyed by established political parties. He compared the party’s funding position with Labour and the Conservatives.
The Crypto-billionaire said he wanted to create a more balanced political contest. He argued that Reform should have enough resources to compete with larger parties.
Delo said he had planned to donate £1 million each month. The funding was intended to continue until the next general election.
The election is expected to take place by mid-2029. Instead of making monthly payments, Delo said he made one large payment.
He described the decision as bringing his planned donations forward. The latest contribution therefore represents several years of planned political funding.
Delo has already donated £4 million to Reform. Election watchdog data showed those payments were made in January and March.
The 42-year-old businessman is currently based in Hong Kong. However, he has said he plans to move back to Britain.
His planned return comes as Labour considers limits on political donations from foreign donors. Such proposals could affect major contributions from overseas-based individuals.
The Crypto-billionaire’s latest donation has broken a previous political funding record. That record was held by another cryptocurrency billionaire, Christopher Harborne.
Harborne donated £9 million to Reform last year. Delo’s new contribution is four times larger than that reported donation.
The record donation comes during a difficult period for Reform UK. The party has faced several controversies involving its funding arrangements.
Police recently confirmed that they had expanded a criminal investigation. The investigation concerns allegations that Reform accepted illegal political donations.
The latest development has increased pressure on party leader Nigel Farage. He has faced scrutiny over Reform’s finances in recent months.
Farage has also faced questions over a separate £5 million payment from Harborne. He has maintained that the money was intended for his personal security.
Parliament’s corruption watchdog is investigating that payment. Farage has repeatedly denied any wrongdoing.
Reform UK was founded in 2021 after emerging from Farage’s pro-Brexit campaign. The party has focused heavily on immigration and opposition to established political parties.
Reform had previously led national opinion polls. However, its advantage over Labour has weakened in recent months.
The party’s political position could make the latest donation particularly significant. The additional funding may help Reform strengthen its campaign operations.
Delo said his donation was intended to help Reform prepare for government. Farage welcomed the contribution and described himself as honoured and humbled.
The Crypto-billionaire’s contribution has renewed debate over political donations in Britain. It has also raised questions about the influence of wealthy individuals.
The size of the donation is likely to attract further attention. It could also intensify discussions about proposed limits on political funding.
For now, Reform has received the largest reported single donation from a living individual. The contribution marks a major development in British political financing.
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