BitMEX Founder Ben Delo Gives Reform UK Further £4m London 2026

Key Points

• BitMEX co-founder Ben Delo gave another £4m to Reform UK, bringing his total donations to the party to £8m in 2026.
• Delo provided more than 70 per cent of all funding declared by Reform UK in the second quarter.
• Reform UK raised more money in total Q2 donations than both the Conservatives and Labour, according to Electoral Commission figures.
• Reform UK said Delo’s latest gifts comply with electoral rules and fall outside the cap on overseas donors.
• Delo was convicted in the US in 2022 for anti-money laundering failures at BitMEX and received a presidential pardon from Donald Trump in 2025.

LONDON (Birmingham Express) September 4, 2026 – British cryptocurrency billionaire Ben Delo has handed Reform UK a further £4m in political donations, according to official figures published by the Electoral Commission. The latest cash injection doubles the BitMEX co-founder’s total financial backing for Nigel Farage’s party to £8m this year.

Data released in the commission’s quarterly register of political donations shows that Delo’s contributions accounted for approximately 72 per cent of all funds declared by Reform UK between April and June. The two separate £2m payments made in April and May helped propel Reform UK ahead of both Labour and the Conservatives in quarterly fundraising totals.

What are the full details behind Ben Delo’s latest £4m donation to Reform UK?

As reported by political correspondent Peter Walker of The Guardian, Electoral Commission data published this week confirmed that Ben Delo transferred a further £4m to Reform UK across two separate cash payments during the second quarter.

The latest figures reveal that during Q2, Reform UK raised £17m in total donations, comfortably outstripping the £3.5m declared by the Conservative Party and the £2.8m reported by the governing Labour Party over the same timeframe.

Delo, who previously provided £4m to Reform UK earlier in the year while resident in Hong Kong, made his latest contributions despite the UK government introducing a £100,000 annual cap on donations from overseas electors in March.

A Reform UK source told reporters that the party remains fully confident it will not have to return any portion of Delo’s latest gifts. Party officials indicated that Delo’s status on the UK domestic electoral register ensures the contributions remain compliant with current campaign finance regulations.

How did Ben Delo explain his financial backing for Nigel Farage and Reform UK?

In a commentary piece published in The Telegraph, Delo outlined his motivations for entering electoral politics, stating that “the biggest obstacle to national recovery is the entrenched self-deception of our elites”.

Delo wrote: “Their regime of nonsense now poses such a grave threat to the UK that, for the first time in my life, I’ve become politically active. Since the start of this year, I have donated £4m to help Nigel Farage to build Reform UK into a genuine alternative party of government.”

He added: “It is already leading in the polls by virtue of recognising and articulating the full scale of the problems our country faces. For the first time, I feel that serious people are looking honestly at what it might take to fix Britain.”

Addressing his historical legal issues in the United States, Delo noted: “I helped build one of the world’s first major crypto trading platforms, fell foul of US regulators, accepted a plea bargain and a civil fine for a regulatory failing that isn’t even a crime in the UK, but then ended up being pardoned by Donald Trump, the US president, anyway.”

Speaking to The Telegraph regarding the businessman’s support, Reform UK leader Nigel Farage stated: “Our priority is to build a detailed programme for government so, if we are elected, we have the right policies in place to get Britain back on its feet as quickly as possible. Ben’s support will help Reform attract more of the skills and talents we need to get ready for government.”

Farage added: “Moreover, it is particularly gratifying to me personally, that someone like Ben, a builder and a visionary and a problem-solver, who has spent a lifetime grasping trends before other people do, sees the potential of Reform.”

What is the legal and regulatory history surrounding Ben Delo?

As detailed in filings with US federal authorities, Delo pleaded guilty in 2022 to violating the Bank Secrecy Act by failing to maintain adequate anti-money laundering controls at BitMEX, the cryptocurrency derivatives platform he co-founded.

Following his guilty plea, Delo was sentenced to 30 months of probation and paid a civil fine before receiving an official presidential pardon from Donald Trump in 2025.

Delo’s total giving makes him Reform UK’s second-largest individual financial contributor, behind Thailand-based crypto investor Christopher Harborne, who has provided £15m to the party since the last general election along with £5m directly to Farage.

Background of political donations and overseas donor rules

The UK political landscape has seen significant shifts in campaign finance rules following legislation designed to restrict the influence of foreign money in British elections. In March, ministers introduced a £100,000 annual cap on donations to political parties from British citizens living abroad who are not listed on the UK domestic electoral register for a required duration.

These regulatory adjustments forced major political parties to re-evaluate their reliance on wealthy donors based in international hubs such as Hong Kong, Singapore, and Thailand. While earlier foreign-based donors faced restrictions under the new cap, individuals maintaining active registration on the UK domestic voting roll remain permitted to make unrestricted cash contributions to political organisations.

Predictions: How will this funding affect UK political parties and voters?

The injection of an additional £4m into Reform UK’s operational coffers significantly alters the financial landscape of British politics ahead of upcoming municipal and parliamentary campaigns.

• Enhanced Organizational Infrastructure: The surplus funding enables Reform UK to expand its permanent field operations, hire professional campaign staff, and invest heavily in digital targeted advertising, matching or exceeding the grassroots campaign capabilities of the Conservative Party.
• Pressure on Mainstream Opposition: Outpacing rival parties in quarterly fundraising places institutional pressure on both the Conservatives and Labour. Smaller conservative donors may shift allegiance toward Reform UK if the party consistently demonstrates superior liquidity and organizational momentum.
• Heightened Public Scrutiny on Party Financing: Continued reliance on mega-donors from the cryptocurrency industry is likely to prompt calls from backbench MPs and campaign transparency groups for stricter political donation caps and enhanced vetting mechanisms for domestic and international donors alike.