Two cryptocurrency entrepreneurs donated a combined £72 million ($72 million) to Reform UK over the weekend, marking what is believed to be the largest individual contributions in British political history and exceeding the total donations received by each of the country's major political parties over an entire year.
Ben Delo, co-founder of BitMEX, initiated the donations on Friday with £36 million ($48 million), followed a day later by Christopher Harborne, a Tether investor based in Thailand, who matched the amount. Harborne had previously contributed £15 million to Reform since the last election.
Delo's donation structures the funds as £1 million monthly installments through August 2029, the latest date the next general election can be held, though it was reportedly prepaid ahead of potential government restrictions on large donations. Reform stated the money will support policy development and 400 campaign managers.
Different Motivations
The two donors framed their contributions differently. Harborne said he supports Reform's economic policies, which he believes will attract investment and fund public services. Delo characterized his donation as a challenge to the established two-party system, stating he wanted to create "a level playing field" rather than what he described as a political "cartel."
Political and Regulatory Response
Opposition parties criticized the donations. The Liberal Democrats called for Prime Minister Andy Burnham to impose caps on political contributions, with spokeswoman Lisa Smart stating that "Farage wants to bring Trump's America to our shores by buying his way into power."
The donations highlight gaps in UK campaign finance regulations. The country currently has no ceiling on donations from UK-based donors, though political donations in cryptocurrencies have been prohibited since March. Neither Delo nor Harborne donated in crypto. Labour has implemented a £100,000 cap on donations from British expats and plans to apply the same limit to newly returned citizens.
For context, UK political parties collected £64.8 million in total donations last year, according to Electoral Commission figures.
Ongoing Investigation
Reform UK faces separate scrutiny over its fundraising practices. The Metropolitan Police began investigating the party on Wednesday for allegedly receiving donations from foreign donors, following a Channel 4 News undercover report that exposed party officials discussing how to conceal foreign money. Nigel Farage is under parliamentary investigation over an unreported £5 million gift from Harborne received before joining the Commons, which he claims was a personal gift unrelated to politics.
