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BTC Ben Delo donated £ 36 million to the Reform UK Party, setting a new record for political donations in the UK.
Ben Delo, British billionaire and co-founder of cryptocurrency exchange BitMEX, has donated £ 36 million (approximately US$49 million) to the Reform UK party led by Nigel Farage. According to Associated Press and other media reports, this is the single largest donation ever made to a British political party.
Record donations and their political implications
Ben Delo said his motivation for providing such huge sums of money was to ensure a "fair race" in the upcoming election. Reform Britain Party leader Nigel Farage expressed his gratitude for the donation and emphasized Dereau's trust in the party's vision.
Farage said: "I am honored and humbled that Ben Dellow has shown such great confidence in reforming Britain. He knows that we are the only party that can turn the country around and reverse the decline of Britain."
Prior to this donation, Christopher Harborne had been the largest supporter of the Reform UK Party, donating £ 9 million last August. Dellow's recent contributions have made him the party's largest financial backer.
According to the Daily Telegraph, the donation is equivalent to a monthly payment of £ 1 million until the next general election planned for 2029. However, Delo reportedly chose to transfer the money in full at one time to avoid the risk of funds being withheld due to regulatory challenges.
Cryptocurrency links spark censorship
Ben Delo co-founded BitMEX, a major global cryptocurrency derivatives trading platform, in 2014. His prominent involvement in digital assets has intensified scrutiny of the influence of cryptocurrency-related funds in British politics.
Last month, Cointelegraph reported that Nigel Farage, a former Brexit activist and current leader of the Reform UK Party, faced an investigation after accepting millions of donations and gifts from figures in the cryptocurrency field (notably Christopher Harborne and George Cottrell).
The surge in cryptocurrency-related donations has raised concerns among lawmakers. According to reports, in July this year, Labour MPs were reviewing whether a temporary measure introduced in March to ban cryptocurrency donations should be made permanent, citing Farage's acceptance of huge gifts from Harborne and Cottrell.
Against this background of censorship, a British MP resigned from the House of Commons in July this year, triggering a by-election. Farage won with 63% of the vote, defeating satirical candidate Count Binface, giving his lead even more pronounced.
Small Dictionary: BitMEX is a well-known cryptocurrency derivatives exchange known for providing leveraged trading of digital asset contracts. It operates globally and is one of the first platforms to popularize cryptocurrency perpetual contracts.
Delo's regulatory history
Previously, U.S. authorities accused Ben Delo and other BitMEX co-founders Arthur Hayes and Samuel Reed of violating the Bank Secrecy Act. Delo pleaded guilty and agreed to pay a $10 million fine in 2022. None of these executives served their sentences in prison. In March 2025, U.S. President Donald Trump pardoned the three.
Delo did not serve his sentence in prison and was pardoned in March 2025 along with Arthur Hayes and Samuel Reid.
Broader impact on British politics
This record donation has intensified the ongoing debate about regulating donations to digital assets in British politics. Lawmakers are still weighing the potential risks and policy responses posed by massive financial support from prominent figures in the cryptocurrency field.
