Crypto Billionaire Gives Record $49M to Farage's Reform UK Party

A crypto billionaire just made the biggest political donation in British history — and it's raising eyebrows across the UK.

Ben Delo, a British billionaire who co-founded the cryptocurrency exchange BitMEX (a website where people buy and sell digital currencies like Bitcoin), gave £36 million (about $49 million) to Nigel Farage's Reform UK party. Farage is a well-known British politician, and Reform UK is his political party.

Here are the key facts:

• The amount: £36 million ($49 million) — the largest donation ever to a UK political party.
• Original plan: £1 million per month until the next general election in 2029.
• What actually happened: Delo paid the entire amount up front, reportedly to stop the payment from being blocked.
• Previous record donor to Reform: Christopher Harborne, who gave £9 million last August.

Delo said he gave the money to ensure a "fair fight" at the polls. Farage said he was "honored and humbled" and claimed his party is the only one that can "turn the country around."

Why is this controversial? Farage has faced growing scrutiny over crypto-linked money. Last month, he was placed under investigation after receiving millions in donations and gifts from two people tied to the crypto industry. He even resigned as a Member of Parliament in July amid the scandal — then won a special election (called a "by-election") with 63% of the vote.

Some lawmakers are now worried about how much influence crypto money is having on UK politics. Labour MPs (members of the opposing party) are reportedly considering making a permanent ban on crypto donations to political parties.

Delo's past adds to the drama. He was one of three BitMEX co-founders who pleaded guilty to US federal charges related to money-laundering laws. He paid a $10 million fine in 2022 but avoided prison — and in March 2025, he received a pardon from US President Donald Trump.

Bottom line: A record-breaking donation from a controversial crypto billionaire has sparked fresh debate about the role of digital-asset money in British politics.

This is an AI-generated summary. Read the original article at: https://cointelegraph.com/news/farages-reform-uk-gets-biggest-donation-ever-from-crypto-billionaire-reports?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound