BitMEX co-founder Ben Delo provided about three-quarters of Reform UK’s reported donations in the second quarter of 2026, according to records from the UK Electoral Commission. The funding, tied to a figure from the crypto industry, has added to questions in Britain over whether digital-asset money could shape political decision-making.
Delo’s April donations made up most of Reform UK’s second-quarter funding
As of Thursday, Electoral Commission records showed that Delo made two separate donations to Reform UK in April: 1 million pounds and 3 million pounds, equal to about $1.3 million and $4 million. The party also received sizable contributions from other entities and individuals between April and June 2026, but Delo’s donations still represented 74% of all funds reported for the quarter.
Overall, Reform UK reported about $7.3 million in second-quarter funding.
Farage is under investigation over crypto-linked donations and gifts
Reform UK leader Nigel Farage is under investigation after receiving millions of dollars in donations and gifts from Christopher Harborne and George Cottrell, two figures tied to the crypto industry.
The UK lawmaker resigned his position as a member of parliament in July during the crypto scandal, setting off a contentious by-election. Farage won that vote with 63%, finishing ahead of satirical candidate Count Binface.
Lawmakers questioned the role of crypto money in UK politics
The donations linked to the crypto industry have prompted questions from many lawmakers about the influence of digital assets on UK politics. In July, Labour MPs were reportedly considering whether a moratorium on crypto donations that had been imposed in March should be made permanent, in response to what Farage described as 「gifts」 from Harborne and Cottrell.
Delo also gave $5.3 million to Reform UK in the first quarter of 2026.
BitMEX co-founders were pardoned by the US president in 2025
Delo was one of three people tied to crypto exchange BitMEX who pleaded guilty to US federal charges related to violations of the Bank Secrecy Act. He agreed to pay a $10 million fine in 2022 and did not serve prison time.
In March 2025, Delo and his colleagues Arthur Hayes and Samuel Reed received pardons from US President Donald Trump.