Reform UK, the anti-immigration party led by Brexit campaigner Nigel Farage, received 72 million pounds ($97 million) from two cryptocurrency billionaires this weekend, according to reports from The Guardian. After news broke that Ben Delo, co-founder of the BitMEX cryptocurrency platform, had given 36 million pounds ($48 million) to the party, crypto investor Christopher Harborne announced he was matching the donation on Saturday. Harborne stated he was backing Reform UK because he believes its policies will attract the investment Britain needs to bolster the economy and generate revenue for healthcare, education and other public services. The twin donations are tied for the biggest ever to a U.K. political party, representing more than the combined amount received by all the country's political parties in 2025, when donations totaled 64.8 million pounds, according to data from the Electoral Commission.
Established political parties quickly warned that unlimited donations from billionaire businessmen risked corrupting elections, as reported by Business Standard. The Liberal Democrats, currently the third-largest party in the House of Commons, called on Prime Minister Andy Burnham to cap donations and protect British democracy. Liberal Democrat spokesperson Lisa Smart stated that 'Nigel Farage wants to bring Trump's America to our shores by buying his way into power' and accused him of trying to get into Number 10 as if it's a stop on a monopoly board. The twin donations represent the biggest ever to a British political party, but their future treatment remains legally uncertain as retrospective restrictions could capture the contributions under new government amendments.
Reform UK maintains that both £36 million donations comply strictly with Electoral Commission rules and UK law, according to party spokesperson Robert Jenrick. Harborne said he expected 'nothing' in return, including a policy change or peerage, while Farage said the funding would help Reform prepare for the next general election and compete with Britain's established parties. Reform economy spokesperson Robert Jenrick defended the donations on September 13, claiming the party believed they were 'entirely in line with the law' and stating that Delo had returned to Britain partly to comply with changing donation requirements. The party won 1,453 seats on local government councils in England during elections earlier this year, topping all other parties, though it currently has just eight seats in the House of Commons compared with 408 for the governing Labour Party.
Communities Secretary Angela Rayner said on September 13 that the £72 million could fall within amendments to the Representation of the People Bill, as reported by The Guardian. Under the government's plan, British citizens registered as overseas electors would face an annual political-donation limit of £100,000, with the restriction covering certain people who recently returned to Britain, depending on their residency and registration history. The planned rules would operate retrospectively once Parliament enacts them, with March 25 applying to donors registered as overseas electors and July 6 to people outside that category. Rayner did not issue a legal finding against Reform or either donor, stating the government had contacted the Electoral Commission to determine whether further protections were required. Once the legislation takes effect, political parties would have 30 days to return money determined to be unlawful under its retrospective provisions.
Neither donor said the latest money was transferred in cryptocurrency, according to The Guardian, though their industry connections remain significant. Harborne is an investor in stablecoin issuer Tether and cryptocurrency exchange Bitfinex, while Delo co-founded BitMEX, one of the earliest major cryptocurrency derivatives exchanges. Harborne holds British and Thai citizenship and has spent years in Thailand, while Delo previously lived in Hong Kong before returning to Britain. Harborne and Delo had already provided most of Reform's privately raised money during early 2026, contributing approximately £3 million and £4 million respectively during the first quarter. Combined, the two donations represented roughly 76% of Reform's £9.26 million in reported contributions excluding public funds based on Electoral Commission figures.
