Full Breakdown
Record-Breaking Crypto Billionaire Donations to Reform UK
By Drooid · · How we work
Core Event
In September 2026 Reform UK announced that two cryptocurrency entrepreneurs each contributed £36 million, bringing the party’s cash influx to £72 million within 48 hours. The donors are Ben Delo, co-founder of BitMEX, and Christopher Harborne, a Thailand-based crypto investor. Delo, pardoned by former President Donald Trump on 27 March 2025, said the gift is intended to give Reform a “level playing field” against established parties. Harborne described his contribution as a “philanthropic gift to our country” and expects “nothing” in return.
Background & Context
Reform UK, the anti-immigration party led by Nigel Farage, has faced financial controversies. Channel 4 News and the Metropolitan Police alleged senior officials discussed ways to conceal foreign donations, prompting a criminal probe into possible breaches of party-funding rules. The party also contends with a parliamentary standards inquiry into a separate £5 million personal gift that Farage received from Harborne before his 2024 election.
Data & Statistics
- Total donations from the two billionaires: £72 million (? $97 million).
- This exceeds the combined spending of all UK parties in the 2024 general election, roughly £64.8 million.
- Prior to the gifts, Reform’s 2025 fundraising was about £38 million, versus £150 million for the Conservatives and £128 million for Labour.
- Delo’s pledge was calculated as £1 million per month until the 2029 election, but he delivered the full sum upfront.
Official Statements & Responses
- Robert Jenrick, Reform’s treasury spokesman, said the donations are “entirely in line with the law as it is and, as far as we know, the law as it’s going to be in the future.”
- The Metropolitan Police confirmed it is assessing information related to the donations and will cooperate with the Electoral Commission, which is also reviewing the contributions.
Criticism & Opposition
- Stella Creasy, Labour MP, argued the £36 million gift “shows why we must act” and urged the House of Lords to adopt a £100,000 annual cap on domestic donations.
Conflicting Reports & Gaps
- Residency status: Harborne is a UK-registered voter residing in Thailand, while Delo returned from Hong Kong in early 2026. The forthcoming Representation of the People Bill proposes a £100,000 cap on donations from British citizens living abroad and a one-year waiting period for recent returnees, but it is unclear whether the £36 million gifts will be retrospectively invalidated.
- Legal interpretation: Jenrick maintains the donations are lawful under current rules, whereas critics cite pending legislation—scheduled for debate in the House of Lords on 12 September 2026—as evidence the gifts could become illegal if applied retrospectively.
Why It Matters / Impact
The cash boost equips Reform UK to expand its campaign infrastructure, hire staff, and produce policy research at a scale previously unavailable. The influx also intensifies scrutiny of mega-donations and fuels debate about the influence of ultra-wealthy individuals on British democracy, prompting calls for stricter caps.
What’s Next
- The Representation of the People Bill will be debated in the House of Lords later this week, with provisions to back-date the £100,000 overseas-donor cap to 25 March 2026.
- The Metropolitan Police investigation remains open, and the Electoral Commission is expected to release a formal assessment in the coming weeks.
- Reform UK says it will use the funds to “prepare for government,” but retaining the money may hinge on the outcome of pending legislation and any retrospective application of the new rules.