Farage's British Reform UK received a $49 million donation from a crypto-billionaire

The British right-populist party Reform UK has received a donation of £36 million (about $49 million) from British crypto-billionaire Ben Delo, co-founder of the BitMEX crypto exchange, who lives in Hong Kong, writes the BBC.

Delo explained his decision in a column for The Telegraph by stating that he wanted to ensure "a level playing field" for Nigel Farage's party, given the financial capabilities of its two main political opponents — the Labour and Conservative parties.

This sum became the largest single donation ever received by a political party in the United Kingdom. The previous record sum — £9 million (approximately $12.2 million) — was also received by Reform UK, and also from a crypto-billionaire, Christopher Harborne.

The record for a donation received by will belongs to the Conservatives — £10 million (about $13.5 million).

Farage stated that for him, this donation is "a great honor and a source of pride."

"Unlike those who express ostensible concern for the state of 'our democracy' while doing everything possible to keep it a cartel, I want a fair fight and a level playing field," Delo writes. "From the party's recent problems, I have concluded that it should spend less time fundraising to compete on equal terms [in elections] and more time preparing to govern."

Delo previously stated that he would donate one million pounds sterling per month to Farage's party until mid-2029 — the deadline by which the ruling Labour Party could call a general election. However, he has now decided to transfer the entire promised amount at once, in case the government tries to restrict large donations in the future.

Currently, there are no limits in the UK on donations that citizens living in the country can transfer to political parties.

However, the Labour Party recently announced a limit of £100,000 (about $135,000) on donations from British citizens living outside the country. To be able to donate a larger sum, one would need to have lived in the UK for at least a year.

The second reading of this bill is scheduled for September 14 in the House of Lords. Delo, who was born in Sheffield, UK, and now lives in Hong Kong, has already stated that he plans to return to the UK to maintain the ability to finance Farage's party in the future. He had previously donated £4 million to it.

Another major donor to Reform UK, Christopher Harborne, who lived in Thailand, also appears to be moving to the UK and has already registered there as a voter, The Times reported in June. In April 2026, Harborne stated that the government's plans to tighten control over political party funding would not prevent him from continuing to make donations to Nigel Farage's party.

Reform UK's fundraising has repeatedly raised questions from law enforcement. Last week, British police announced the start of an investigation into suspected violations of the foreign funding law by several party leaders, following a Channel 4 News report featuring a hidden camera conversation. The conversation discussed a willingness to violate the ban on transfers from foreigners.

Farage himself participated in the conversation, stating that he was misunderstood. Reform UK denies any wrongdoing and has stated that it will cooperate with the investigation.

Farage himself is currently under investigation by the parliamentary standards commission. It is investigating whether he should have declared a cash gift of £5 million received from Harborne in 2024.

At the time, Farage was not an MP and had no intention of running, but soon after receiving the gift from the crypto-billionaire, he changed his mind and ran in the election, which he won.

Farage claims that he did not have to declare this "purely private" gift, as it had nothing to do with his parliamentary or political activities. In his opinion, the parliamentary investigation is a manifestation of political struggle.

Amidst the scandal over this gift, Farage resigned as an MP and ran for re-election in his constituency. However, all British parties decided to boycott them and not put up candidates against Farage.

His only competitor in the constituency ultimately became British comedian Jonathan David Harvey, who participated in the election under the pseudonym "Count Binface."

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