Cryptocurrency giant injects a record $97 million into Nigel Farage's party within 24 hours

Summary

Ben Delo and Christopher Harborne each donated £ 36 million to Reform UK in two consecutive days, totaling £ 72 million (approximately US$97 million). These two back-to-back donations constitute the highest individual political donations in British history. Dellow is a co-founder of cryptocurrency trading platform BitMEX; Harborne holds investment shares in Bitfinex and stablecoin provider Tether. Both donors stressed that their donations were not accompanied by any expectation of receiving special benefits, and Dellow even described them as an act to promote fairness in the election. The donations have intensified debate about the cryptocurrency industry's influence in British politics, prompting the government to introduce proposals to ban political donations based on cryptocurrencies.

Unprecedented financial support and expanding cryptocurrency links

In an unprecedented financial support move, two billionaires in the cryptocurrency industry injected £ 72 million (approximately US$97 million) into Nigel Farage's Reform Britain Party in 24 consecutive hours, setting a record for personal political donations in the UK.

Latest News: According to the BBC, two cryptocurrency entrepreneurs donated a total of £ 72 million to the right-wing British party, Reform Britain, led by Nigel Farage. Ben Dellow and Christopher Harborne each donated a record £ 36 million. Harborne had previously donated £ 9 million in August. Dellow said he...

Ben Dellow, who co-founded digital currency exchange platform BitMEX, transferred £ 36 million to the party on Friday. The next day, Christopher Harborne, whose portfolio includes shares in Bitfinex and stablecoin provider Tether, also donated the same amount. Together, the two donations mark the largest financial support ever received by a British political organization.

In an interview with the Daily Telegraph, Harborne explained that Dereau's donation inspired him to make matching donations. "There are no aristocratic titles, no policy changes, just a party ready to govern." he said.

Dellow positions his contribution as an investment in democratic competition. He explained that the £ 36 million was equivalent to £ 1 million a month in support through the 2029 election, although he immediately transferred the entire money to circumvent potential regulatory obstacles.

Farage expressed gratitude for the injection of funds and said the funds would allow the Reform Party to compete on an equal footing in the upcoming election cycle.

Previously supported links with expanding cryptocurrencies

The contributions of these two funders are not the first time. Harborne previously provided £ 9 million in August 2025 and subsequently made additional transfers in early 2026. Dellow also made a donation in the first quarter of 2026.

Election Commission data shows that excluding government funds, Harborne and Delo collectively accounted for approximately 76% of the Reform Party's recorded donations in the first quarter of 2026.

Harborne's £ 12 million donation in December 2025 temporarily held the record for the largest single donation to any political party by a living individual in the UK. His recent donation doubled that number.

Farage deliberately cultivates interpersonal relationships in the cryptocurrency field. At a Bitcoin party in May 2025, he announced plans to establish a Bitcoin reserve at the Bank of England, implement a 10% capital gains tax on digital assets, and prevent financial institutions from terminating account services because they involve cryptocurrencies.

Official investigations and regulatory proposals

These huge donations have emerged against the backdrop of increasing regulatory and investigative attention.

Scotland Yard has launched an investigation into allegations related to the Reform Party's fundraising practices. In addition, the Parliamentary Standards Committee is reviewing the £ 5 million private transfer that Harborne transferred to Farage ahead of the 2024 parliamentary elections. Farage and the Reform Party firmly deny any wrongdoing.

Farage resigned from his parliamentary seat in July, saying it was involved in so-called "cryptocurrency-related disputes," but he subsequently regained the position with 63% of voters in the by-election.

Government officials announced proposals for political donations to cryptocurrencies in March this year, including a comprehensive ban on digital currency donations and a cap on overseas donations at £ 100,000 per year. Labour representatives then explored the possibility of making the restrictions permanent.

Dellow has his own regulatory background in the United States. As one of three co-founders of BitMEX, he pleaded guilty to violating the Bank Secrecy Act. In 2022, he accepted a $10 million fine, but in March 2025, President Donald Trump issued a pardon.

The Election Commission confirmed that no British political organization has officially disclosed receiving donations in the form of cryptocurrency assets.