Reform UK, the anti-immigration party led by Nigel Farage, received £72 million (around €83.9 million) from two cryptocurrency billionaires this weekend, prompting concerns about money’s influence in British politics. Ben Delo, co-founder of the BitMEX platform, donated £36 million, and crypto investor Christopher Harborne matched that amount.
Harborne supports Reform UK’s policies, believing they will attract investment, strengthen the economy, and fund public services. Meanwhile, the Liberal Democrats warned that such large donations from billionaires could corrupt elections and called on Prime Minister Andy Burnham to cap donations to protect democracy.
“Nigel Farage wants to bring Trump’s America to our shores by buying his way into power,” Liberal Democrat spokesperson Lisa Smart said in a statement. “He’s trying to get into Number 10 as if it’s a stop on a Monopoly board,” she added, referring to the prime minister’s residence.
Unprecedented donations in UK politics
These donations are the largest ever to a UK political party, surpassing the total donations received by all parties in 2025, which amounted to £64.8 million (approximately €75.7 million), according to the Electoral Commission.
They come amid allegations of improper fundraising by Reform UK, which has damaged its standing with voters. London police have initiated an investigation into claims that the party accepted contributions from overseas donors.
Delo, who US President Donald Trump pardoned after pleading guilty to anti-money laundering violations, recently moved back to the UK from Hong Kong. In the Telegraph, Delo remarked that his contribution aims to disrupt the “cartel” controlling British politics, referring to the Labour and Conservative parties.
“Unlike the people who express mock concern for the health of ‘our democracy’ while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field,” Delo wrote. “My conclusion from Reform’s recent troubles is that they should spend less time trying to raise funds to compete on equal terms and more time preparing for government.”
Electoral wins build on anti-immigration rhetoric
Reform UK has gained support in public polls by criticising the government’s failure to stop the illegal arrival of thousands of migrants via inflatable boats and pushing to make asylum claims more difficult. The party won 1,453 local government seats in England earlier this year, outperforming all others.
Nigel Farage says Reform UK is preparing to govern after the next election, but the party currently holds only eight seats in the House of Commons, compared to Labour’s 408.
Delo announced a donation of £1 million (€1,165,500) monthly until August 2029, providing it upfront to avoid potential restrictions on political donations.
Separately, BitMEX was fined $100 million in 2025 for violating US anti-money laundering laws. Delo and two co-founders received probation after pleading guilty to breaking the US Bank Secrecy Act. On March 27, 2025, Trump pardoned them.
Reform UK already raised fundraising questions
Reform UK’s annual conference was overshadowed by concerns over its finances after an undercover investigation by Channel 4 News exposed senior officials discussing ways to hide contributions from foreign donors. The Metropolitan Police Service has opened an investigation, as UK electoral law permits donations only from British citizens or UK-registered businesses. Reform UK denies any wrongdoing and will cooperate with the inquiry.
Meanwhile, Parliament’s standards watchdog is investigating Nigel Farage for not reporting a £5 million gift from Harborne before his election, which he claims was a personal gift unrelated to politics.
This article used information from The Associated Press.
