75% of UK Reform Party's second-quarter donations came from BitMEX co-founder

BitMEX co-founder Ben Dellow donated £ 4 million to the British Reform Party

BitMEX co-founder Ben Dellow donated £ 4 million (approximately US$5.4 million) to the British Reform Party in the second quarter of 2026, accounting for about 75% of the £ 5.3 million raised by the party during the same period.

Summary

Ben Dellow provided £ 4 million to the Reform Party through two donations in April.
·Dereau's donations accounted for about 75% of the party's total fundraising in the second quarter.
·The Reform Party raised more money than the Labour Party and Conservative Party between April and June. [TAG·US President Donald Trump pardoned Delo and two other BitMEX co-founders in March 2025. [TAG

Delo contributed most of the Reform Party's funds in the second quarter

Electoral Commission records released on September 3 show that Delo made two cash donations to the Reform Party in April, £ 1 million and £ 3 million respectively.

Together, these contributions represent about three-quarters of the total funding of £ 5.3 million reported by the Reform Party between April and June. According to the exchange rate quoted by Reuters, the total is about $7.1 million, while Delo's contribution portion is worth about $5.4 million.

Reuters reported that the Reform Party received more private donations in the quarter than the UK's ruling Labor Party and the opposition Conservative Party. Labour received about £ 3.6 million, while the Conservatives raised £ 2.8 million.

Regarding these figures, the Reform Party attributes its fundraising to the support of British business owners.

"We are pleased to have the support of successful British entrepreneurs and we will continue to prepare for the next general election," the party said in a statement quoted from Reuters.

Dellow, co-founder of cryptocurrency derivatives exchange BitMEX, announced in 2026 that he will return to the UK from Hong Kong. According to Reuters, he said he wanted to enter politics and "save the UK before the recession becomes irreversible."

Dellow has donated £ 4 million in the first quarter of 2026, and the total amount he has donated to the Reform Party this year has reached £ 8 million. In June, it was reported that DeLow and cryptocurrency investor Christopher Harborne contributed £ 7 million to the party's total fundraising in the first quarter. According to Election Commission data cited by Reuters, the Reform Party raised £ 9.3 million during the period, with Dellow contributing £ 4 million and Harborne just over £ 3 million.

Reform Party's cryptocurrency-related donations come under review

Harborne, previously the Reform Party's largest financial backer, did not report any donations to the party in the second quarter. The British-born investor currently lives in Thailand and holds a stake in stablecoin issuer Tether.

His absence follows the British government's plan to limit political donations from British citizens overseas to £ 100,000 a year. Reuters reported that Harborne has registered to vote in the UK, but the proposed rules have brought renewed attention to the issue of how overseas donors are eligible to fund domestic political parties.

Dellow's return to the UK could affect how these rules apply to his future donations. According to the Guardian, the Reform Party believes he meets the requirements of a UK donor, which usually depends on whether the individual appears on the electoral register or fits into other categories of allowed donors.

The party's fundraising has also attracted attention because of its leader Nigel Farage's financial connections with Harborne and another figure with connections to the cryptocurrency world, George Cottrell.

A parliamentary inquiry is examining whether Farage failed to declare the £ 5 million personal gift provided by Harborne as required by the House of Commons. Farage said the money was an unconditional personal gift to pay for security costs and did not need to be included in the parliamentary register. The Reform Party also claimed that the payment complied with applicable rules. Political opponents have disputed this, and Parliamentary Standards Commissioner Daniel Greenberg has launched an investigation.

In July, Farage resigned as a member of parliament and sought reauthorization from voters in the Clarkton constituency while the investigation was still ongoing. He returned to Parliament after winning a subsequent by-election with 63.34% of the vote (22239 votes). His return allows council officials to continue to review £ 5 million payments and other support related to Harbourne and Cottrell. Farage denied any wrongdoing and said he complied with relevant disclosure requirements.

British MPs question political donations to cryptocurrencies

Political funding related to the digital asset industry has prompted some British MPs to call for stronger donor controls. At issue is whether cryptocurrency transactions make it more difficult for authorities to identify the original source of political funds, especially when assets pass through multiple wallets or services.

In February, Labour MP Matt Weston called for a temporary ban before the Election Commission issued statutory guidance. His proposals include source review, use of platforms registered with the Financial Conduct Authority, and restrictions on funds related to cryptocurrency mixers.

Weston warned in a letter to the government that the current system lacks clear national enforcement leadership over political finance and the risks of foreign interference. According to previous reports, the government introduced a moratorium on political donations in the form of cryptocurrency in March. Labour MPs later considered making the restriction permanent because of persistent problems with cryptocurrency-related funds received by Farage and the Reform Party.

Neither DeLow's second-quarter donations nor Harborne's previous donations to the Reform Party were reported as cryptocurrency transfers. Election committee documents listed Dereau's April payments as cash donations, which means the debate on cryptocurrency funding also covers the political role played by wealthy people whose wealth comes from the digital asset industry.

Farage has previously stated that the Reform Party is open to cryptocurrencies. At the Bitcoin 2025 conference in Las Vegas, he announced that the party would accept donations from digital assets, becoming the first major Westminster party to adopt this policy.

Trump pardons Dellow after BitMEX conviction

DeLow's records in the United States directly link the Reform Party's latest donor data to U.S. cryptocurrency enforcement. He is one of three co-founders charged with BitMEX for failing to maintain adequate anti-money laundering plans.

The U.S. Department of Justice stated that Dellow pleaded guilty to violating the Bank Secrecy Act in February 2022. Prosecutors accused BitMEX of failing to implement anti-money laundering control measures as required when providing services to U.S. customers. Under the plea agreement, Dellow pleaded guilty to failing to establish, implement and maintain the required compliance plan. A federal judge sentenced him to 30 months probation and agreed to pay a $10 million criminal fine equivalent to financial gains related to the crime.

The other BitMEX co-founders indicted in the case, Arthur Hayes and Samuel Reid, also pleaded guilty to violating the Bank Secrecy Act and each agreed to pay a $10 million fine. Former BitMEX executive Gregory Dwyer subsequently pleaded guilty and accepted a $150,000 fine.

U.S. President Donald Trump granted a comprehensive pardon to Dellow, Hayes and Reid in March 2025. The leniency ended the remaining federal consequences of their conviction, but did not exempt them from the fines they had already paid under the plea agreement.

The BitMEX pardon follows other leniency decisions involving people in the U.S. cryptocurrency industry. Trump pardoned Silk Road founder Ross Ulbricht in January 2025, who had served more than a decade in prison.