Crypto Mogul Makes Record-Breaking Political Contribution to Reform UK Led by Farage
BitMEX co-founder Ben Delo contributed nearly $50 million to Nigel Farage's Reform UK, marking an unprecedented political donation.
British cryptocurrency billionaire Ben Delo contributed 36 million pounds ($49 million) to Nigel Farage's Reform UK party, marking the largest political donation in British history, according to reports from DPA and various media outlets on Saturday.
The BitMEX cryptocurrency exchange co-founder stated that his contribution was made to guarantee a "fair fight" in upcoming electoral contests.
In response to the donation, Farage stated: "I am honored 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."
Prior to this contribution, Delo ranked as the second-largest financial supporter of Reform UK, trailing billionaire Christopher Harborne, who contributed 9 million pounds to the political organization last August.
Last month, Cointelegraph published a report indicating that Farage faced investigation following his receipt of millions of dollars in donations and gifts from two individuals connected to the cryptocurrency sector: Harborne and George Cottrell.
Following the crypto-related controversy, the UK lawmaker stepped down from his position as a member of Parliament in July, which led to a contentious by-election that Farage ultimately won decisively with 63% of the vote, defeating satirical candidate Count Binface.
These donations linked to the cryptocurrency sector have prompted numerous lawmakers to raise concerns regarding the impact of digital assets on the United Kingdom's political landscape.
According to reports from July, Labour MPs were reportedly deliberating whether a moratorium on cryptocurrency-related donations that was announced in March, which was initially pending legislation, should become permanent following what Farage described as "gifts" from Harborne and Cottrell.
According to The Telegraph newspaper's reporting, the 36 million pound contribution was structured to represent 1 million pounds for each month leading up to a general election scheduled for 2029, however Delo chose to make the complete payment immediately to prevent potential blocking measures.
Previous reporting by Cointelegraph revealed that Delo was among three BitMEX co-founders who entered guilty pleas to federal charges in the United States concerning violations of the Bank Secrecy Act.
Although he agreed to pay a $10 million fine in 2022, Delo avoided serving any prison time. Both he and his co-founders Arthur Hayes and Samuel Reed were granted a pardon by US President Donald Trump in March 2025.