BitMEX Co-Founder Ben Delo Becomes Reform UK’s Primary Backer

Electoral Commission records published on Sept. 3 reveal that Delo funneled the funds through two separate cash donations in April. Combined with his first-quarter contributions, Delo has now injected £8 million into the party this year. This surge in capital has allowed Reform UK to report £5.3 million for the quarter, surpassing the £3.6 million raised by Labour and the £2.8 million collected by the Conservatives.

The influx of money from the crypto entrepreneur, who recently returned to Britain from Hong Kong, highlights the party's reliance on high-net-worth individuals from the digital asset sector. While Reform maintains that its donors are successful business owners committed to national interests, the party faces intense pressure regarding transparency. Parliamentary Standards Commissioner Daniel Greenberg is currently investigating whether leader Nigel Farage failed to properly disclose a separate £5 million personal gift from another crypto-connected backer, Christopher Harborne.

While the government has moved to restrict foreign political donations and implemented a moratorium on direct cryptocurrency transfers to parties, these specific contributions were processed as cash. Nevertheless, the reliance on figures like Delo—who previously pleaded guilty to violating the U.S. Bank Secrecy Act before receiving a presidential pardon in 2025—continues to draw fire from political opponents. Critics argue that the lack of visibility into these wealth sources poses significant risks, prompting calls from Labour lawmakers for stricter enforcement and permanent bans on crypto-linked political financing.