Reform UK Gets Record £36m Donation From Crypto Tycoon

Reform UK has received a £36m donation from British cryptocurrency entrepreneur Ben Delo, the party said, in what it described as the largest single payment to a UK political party.

The cash pledge is a record for a UK political party and comes as Reform faces growing scrutiny over its finances and as the Labour government pursues limits on donations from British citizens living abroad.

Record Sum From Ben Delo

Nigel Farage, the Reform leader, said he was “honoured and humbled” by the donation.

Delo said in a letter published by the Daily Telegraph that he was making the move because he wanted “a fair fight and a level playing field”. The entrepreneur, who is Sheffield-born and based in Hong Kong, said he had concluded that Reform should spend less time raising funds to compete and more time preparing for government.

Reform said Delo had already donated £4m to the party. He previously said he would move back to the UK from Hong Kong to continue his support.

Under current rules, there are no limits on the amount that UK-based donors can give to political parties. However, Labour has previously introduced a £100,000 cap on donations from British citizens who live overseas or have recently returned to the UK.

Delo said he planned to donate £1m a month between now and the latest date by which Labour could call a general election in 2029. He added that he would give the money upfront if the government attempted to restrict large donations in the future.

Scrutiny Over Foreign Funding Claims

Reform’s fundraising has been under scrutiny after police announced an investigation on Thursday into allegations the party may have breached foreign funding laws.

The probe followed a broadcast by Channel 4 News last week, in which an undercover reporter recorded two senior Reform aides appearing to discuss ways to secure foreign party donations in line with electoral rules.

The party denied any wrongdoing and said it would co-operate with the investigation.

Separate inquiries also involve Farage and Reform-linked payments. The parliamentary standards commissioner is examining whether Farage should have declared a £5m cash gift he received from Thailand-based cryptocurrency investor Christopher Harborne ahead of the 2024 election.

Farage has argued he had no obligation to register what he described as a “purely private” gift that was not linked to his parliamentary or political activities.

The Metropolitan Police is also investigating whether payments made to Reform in the weeks before the last election complied with donation laws. The inquiry includes donations made directly to the party by Fiona Cottrell, the mother of George Cottrell, a long-standing Farage ally.

Police are also looking at payments from a company controlled by Reform deputy leader Richard Tice, which received £1m from Fiona Cottrell in June 2024.

Wider Row Over Limits For Expats

The government is seeking to restrict donations further through the Representation of the People Bill, which has its second reading in the House of Lords on Monday. The bill would prevent expats who return to the UK from donating more than £100,000 for a year after their arrival.

Restrictions on donations from Britons abroad have prompted conflict with Reform and key donors, who have accused Labour of seeking to stifle their progress. A cabinet minister said British democracy was “not for sale”.

The donation also follows Delo’s US pardon. Last year, Donald Trump granted him an unconditional pardon after a breach of anti-money laundering laws linked to Delo’s crypto trading platform, BitMEX. Delo had pleaded guilty in 2022.

Labour and Liberal Democrats responded to Delo’s donation. A Labour Party spokesperson said Farage was “still up to his neck in scandal” and that the party could not “buy their way out of questions about sleaze, criminal mates and dodgy finances”. Liberal Democrat Cabinet Office spokeswoman Lisa Smart said Farage was trying to “bring Trump’s America to our shores by buying his way into power” and called for a cap on political donations.

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12 September 2026