BitMEX Co-Founder Donates $49M to Nigel Farage's Reform UK

By Khal · · 1 min read

Editorial illustration: Stacks of coins fill an open metal vault beside a chute leading toward a teal box decorated with a matching rosette. The Palace of Westminster appears across the water in the background.
AI-generated editorial illustration · AI-generated editorial illustration · Published Sep 12, 2026, 4:09 p.m. (58 minutes ago)

In brief

  • Ben Delo donated £36 million ($49 million) to Reform UK, largest donation to a British political party
  • Delo pleaded guilty to Bank Secrecy Act violations and received presidential pardon in March 2025
  • Donation intensifies scrutiny of crypto industry influence on UK politics following Farage's by-election win

The Largest Political Donation in British History

Delo said he gave the money to ensure a "fair fight" at the polls. The donation dwarfs the previous record holder—billionaire Christopher Harborne, who gave 9 million pounds to Reform UK in August. Delo had been the second-largest donor to Farage's party until this latest injection of capital.

According to reporting, the 36 million pound sum represents roughly 1 million pounds each month through a general election scheduled for 2029. Rather than stagger the payments, Delo made the entire contribution upfront.

Farage responded with gratitude. "I am honored and humbled that Ben Delo has shown such confidence in Reform," the Reform UK leader said in a statement.

Crypto Scandal and Political Fallout

The donation resurrects concerns about crypto industry access to British politics. Farage faced investigation after receiving donations and gifts from crypto figures including Harborne and George Cottrell. He resigned his Parliament seat in July amid the scandal, then won a by-election with 63% of the vote, defeating satirical candidate Count Binface.

Labour MPs have reportedly considered making a moratorium on crypto donations permanent in response to the Farage controversy.

Delo's political involvement stands in sharp contrast to his regulatory past. He was one of three BitMEX co-founders who pleaded guilty to federal charges related to Bank Secrecy Act violations in the United States. In 2022, he agreed to pay a $10 million fine and did not serve prison time.

That changed in March 2025, when Delo and his colleagues Arthur Hayes and Samuel Reed received a pardon from US President Donald Trump.

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