A British cryptocurrency entrepreneur has donated £36 million, equivalent to approximately $49 million, to Reform UK in what stands as the biggest single contribution ever recorded to a UK political party. Ben Delo, co-founder of the BitMEX trading platform, confirmed the payment in a newspaper article, describing it as support for a fair contest at the next general election.

Delo, aged 42, said he had recently relocated from Hong Kong back to Britain. He explained that the sum equates to £1 million a month through to the latest possible date for the next election in 2029, paid in full immediately to prevent any future legislative barriers. He previously contributed smaller amounts earlier this year and had ranked as the party’s second-largest donor behind fellow cryptocurrency billionaire Christopher Harborne.

Donor’s Stated Reasons and Background

In his article, Delo argued that Reform lacked the long-term financial resources of the larger parties and needed backing to compete on equal terms. He wrote that he wanted a level playing field rather than allowing established parties to maintain what he called a cartel arrangement. His conclusion from the party’s recent difficulties was that it should focus less on fundraising and more on preparing to govern.

Delo pleaded guilty in the United States in 2022 to a Bank Secrecy Act violation linked to anti-money-laundering controls at BitMEX. He received an unconditional pardon from US President Donald Trump in 2025. The new gift surpasses Harborne’s previous £9 million contribution last year and exceeds the prior record for a living donor. A separate £10 million bequest to the Conservatives remains the largest from an estate.

Reform UK Response and Party Context

Nigel Farage welcomed the donation, stating he felt honoured and humbled by the show of confidence. He said Delo understood that Reform was the only party capable of reversing the country’s decline. Deputy leader Richard Tice thanked Delo for enabling the party to employ skilled staff and build a professional campaign platform, adding that victory was necessary to improve Britain’s prospects.

The contribution arrives as Reform faces multiple inquiries into its finances. The Metropolitan Police is investigating allegations arising from an undercover television report that appeared to show senior figures discussing ways to handle foreign donations. The party has denied wrongdoing and pledged full cooperation. Two aides, including long-time Farage associate Dan Jukes and policy head James Orr, have been suspended pending an internal review.

Separately, Parliament’s standards body is examining a £5 million personal gift Farage received from Harborne, which the Reform leader has described as related to security rather than political activity. Farage has maintained he has done nothing improper. The $49 million gift nearly equals the total sum Reform has received since its formation in 2021.

Political Reactions and Proposed Rules

Labour criticised the timing, noting ongoing questions about Farage’s finances and the police inquiry. A party spokesperson said Reform could not resolve concerns about its funding through large donations and urged full cooperation with investigators. Liberal Democrat spokesperson Lisa Smart accused Farage of seeking to import elements of American-style politics and called on the government to introduce a firm cap on political donations.

Campaign group Clean Up Westminster described the scale of the gift as excessive and argued that no individual should wield such influence. Its director said the sum was several times larger than any previous political donation and pressed for rapid legislation limiting contributions.

Last week MPs approved draft measures that would limit overseas donations to £100,000 and suspend funding via cryptocurrency. The proposals still require approval in the House of Lords before becoming law. Ministers have presented the changes as protection against foreign influence, while Reform has characterised them as an attempt to restrict its resources.

Delo noted that supporting Reform required resilience, citing the treatment of earlier major donors, and said those with substantial means had a responsibility to help the party compete rather than leave voters limited to existing options.