Reform UK Receives £72m From Crypto Billionaires, Sparking Funding Debate
Reform UK received £72m from two crypto billionaires, matching the record for a UK political donation and prompting calls for funding caps.
Reform UK has received £72 million ($97 million) from two cryptocurrency billionaires, a windfall that has reignited debate over the role of large donors in British politics.
The party, led by Brexit campaigner Nigel Farage, confirmed the twin donations of £36 million ($48 million) each from BitMEX co-founder Ben Delo and crypto investor Christopher Harborne. The two sums are tied as the largest single donations ever made to a UK political party, and together they exceed the £64.8 million ($87.7 million) received by all British parties combined in 2025, according to Electoral Commission data.
Deputy leader Richard Tice welcomed the funding, saying it would allow Reform to compete on equal terms with the established parties. "Both Labour and the Tories in a general election year will spend between 30 and 40 million pounds," he said. "Ben Delo quite rightly says it's important that Reform can fight on a level playing field." Tice added that the money would help the party recruit campaign managers across the country ahead of the next election.
Delo, who was pardoned by US President Donald Trump last year after pleading guilty to violating anti-money laundering laws, said his donation was intended to help break up what he described as a "cartel" controlling British politics.
The donations drew criticism from campaigners concerned about the influence of mega donors. "It's the only way you stop these mega donors making these donations that are corrupting our politics and making it more responsive to their needs than to the needs of ordinary people," said Olly Buston, director of the political movement Clean Up Westminster, who called for caps on political donations.
The funding announcement came as Reform UK faced separate questions over alleged improper fundraising. London police this week opened an investigation into reports that the party had violated laws prohibiting contributions from overseas donors. Reform UK denies wrongdoing and says it will cooperate fully with the probe.