Reform UK, the anti-immigration party led by Nigel Farage, has received 72 million pounds ($97 million) from two cryptocurrency billionaires, prompting concerns about the influence of money in British politics. Ben Delo, a co-founder of the BitMEX cryptocurrency platform, initially donated 36 million pounds ($48 million), with crypto investor Christopher Harborne announcing he would match the donation.
Harborne stated his support for Reform UK is based on a belief that its policies will attract necessary investment to bolster the British economy and fund public services. However, established political parties have raised alarms, warning that unlimited donations from wealthy individuals could corrupt elections. The Liberal Democrats called for Prime Minister Andy Burnham to cap political donations and safeguard British democracy.
The combined donations are reportedly the largest ever made to a U.K. political party and exceed the total amount received by all parties in 2025, which was 64.8 million pounds, according to Electoral Commission data. These contributions come amid ongoing scrutiny of Reform UK's fundraising practices, following allegations of improper practices that have impacted its public standing.
Earlier this week, police in London initiated an investigation into reports that the party may have violated laws prohibiting contributions from overseas donors. Ben Delo, who was pardoned by U.S. President Donald Trump last year after pleading guilty to violating anti-money laundering laws, recently returned to the U.K. from Hong Kong. Delo explained in a statement that his donation aims to disrupt what he described as a "cartel" controlling British politics, referring to the dominance of the Labour and Conservative parties.
Reform UK has seen a rise in public opinion polls, largely due to its platform criticizing immigration policies and advocating for stricter asylum regulations. While the party has achieved success in local government elections, it currently holds only eight seats in the House of Commons, compared to the governing Labour Party's 408 seats.
Delo indicated that his donation is structured to amount to 1 million pounds ($1.3 million) per month until the next general election, scheduled for August 2029. He stated this upfront contribution is a safeguard against potential future government limits on political donations.
BitMEX faced a $100 million fine in 2025 for allegedly disregarding U.S. anti-money laundering laws to increase revenue. Delo and two other co-founders pleaded guilty in 2022 to violating the U.S. Banking Secrecy Act and were sentenced to probation. Trump issued pardons to BitMEX and its co-founders on March 27, 2025.
Questions surrounding Reform UK's finances intensified last week during its annual conference, following an undercover investigation by Channel 4 News that appeared to capture senior party officials discussing methods to obscure foreign contributions. U.K. electoral law restricts donations to British voters or U.K.-registered businesses. Reform UK has denied any wrongdoing and pledged full cooperation with the police probe.
Nigel Farage is also facing an investigation by Parliament's standards watchdog for failing to declare a 5-million-pound ($6.7 million) gift from Harborne prior to his election to the House of Commons. Farage maintains the money was a personal gift unrelated to his political activities.