BitMEX Co-Founder and Billionaire Each Give $48M+ to UK’s Reform Party in Record Political Donations
Two cryptocurrency entrepreneurs have together contributed £72 million to Nigel Farage's Reform UK party, marking the largest combined donations in British political history and intensifying debate over crypto's influence on UK politics.
Record-Breaking Crypto Donations to Reform UK
Two major figures from the cryptocurrency industry have delivered unprecedented financial backing to Nigel Farage’s Reform UK political party. Ben Delo, who co-founded the BitMEX cryptocurrency exchange, donated 36 million pounds, followed a day later by Christopher Harborne matching the contribution with an identical 36 million pound gift. Together, the donations total 72 million pounds—approximately $97 million—marking the largest combined contributions ever made to a British political party.
Harborne’s decision to match Delo’s donation came after reading about the initial contribution. Speaking to The Telegraph, Harborne emphasized that he expected no favors in exchange for his support: “No peerage, no policy change, just a party that is ready for government.” This marked Harborne’s second major contribution to Reform UK, following a 9 million pound donation made in August 2025.
Strategic Timing and Political Impact
Delo structured his contribution strategically, explaining that the 36 million pound sum represented approximately one million pounds per month through the 2029 general election. However, he made the entire payment upfront to prevent potential regulatory blocking of the installments. Delo told The Telegraph that his donation aimed to ensure a “fair fight” during the upcoming election cycle.
Farage welcomed both contributions, stating that the funding would enable Reform UK to compete in the next general election on “a level playing field.” The influx of capital significantly strengthens the party’s financial position ahead of critical electoral contests.
Controversy and Regulatory Scrutiny
The donations have intensified ongoing concerns about cryptocurrency industry influence on British politics. Farage came under investigation following the substantial contributions from Harborne and Cottrell, though he has denied any wrongdoing. The political fallout included Farage’s resignation from Parliament in July, which triggered a by-election that he won decisively with 63% of the vote, defeating satirical candidate Count Binface.
The contributions have prompted serious discussion among UK lawmakers about crypto’s political influence. Labour MPs reportedly considered making permanent a moratorium on cryptocurrency donations that was initially announced in March, citing concerns raised by the Farage situation.
Delo’s background adds additional context to the donations. As one of three BitMEX co-founders, he had previously pleaded guilty to federal charges related to Bank Secrecy Act violations. He paid a $10 million fine in 2022 without serving prison time. In a significant development for the crypto industry, Delo, along with fellow BitMEX co-founders Arthur Hayes and Samuel Reed, received presidential pardons from Donald Trump in March 2025.
Source: The Telegraph, via Cointelegraph. Not financial advice.
Why it matters: The record donations highlight growing cryptocurrency industry engagement with traditional politics and regulatory frameworks, signaling that major crypto figures view political influence as critical to shaping future digital asset policy.