Nigel Farage’s party has secured a staggering £36m from British cryptocurrency entrepreneur Ben Delo in a major boost for its election campaign.
Mr Delo, who was previously Reform UK’s second-largest donor, has said he wants to help the party prepare for government and ensure it is given a “fair fight”.
The huge sum is the largest donation given to a political party by a significant margin. It comes after a police investigation was launched into allegations that Reform breached party donation rules on illegal foreign funding.
Reacting to the gift, Mr Farage said: “I am honoured and humbled that Ben Delo has shown such confidence in Reform.
“Ben knows that we are the only party that can turn the country around and reverse Britain’s decline.”
The boost nearly matches the total £38m that the party has received since it launched in 2021. In that time, the Tories have been given £150m and Labour £128m.
open image in galleryMr Delo, the founder of cryptocurrency trading platform BitMex, has already made four donations to Reform this year, totalling £8m.
The businessman was convicted in the US in 2022 for failings in an anti-money laundering programme at BitMex, before being pardoned by president Donald Trump.
He was, until now, the second-largest donor, behind crypto billionaire Christopher Harborne, who has given £15m to the party in the last year. His separate undeclared donation of £5m, directly to Mr Farage, is the subject of a parliamentary probe.
Writing in The Telegraph, Mr Delo said: “Unlike the people who express mock concern for the health of ‘our democracy’ while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field.
“My conclusion from Reform’s recent troubles is that they should spend less time trying to raise funds to compete on equal terms and more time preparing for government.
“That’s why today I’m announcing that I’m giving £1m per month to Reform UK until the expected 2029 general election, to help them get ready for government. What’s more, to remove the temptation from Labour to use their control of parliament to try to cut that financial lifeline to their competitor, I have front-loaded these donations into a single payment of £36m.”
open image in galleryThe donation comes as the party and Mr Farage face intense scrutiny over funding, recently intensified by an undercover Channel 4 investigation appearing to show senior Reform figures discussing how to disguise donations from foreign sources.
The Metropolitan Police has launched a criminal investigation into claims Reform breached party donation rules on illegal foreign funding.
It was already probing payments to a company controlled by deputy leader Richard Tice’s fundraising vehicle from Fiona Cottrell, the mother of convicted fraudster and ally George Cottrell.
Labour MP Stella Creasy said: “£36m isn’t going to ‘level the playing field’ of the next general election. It’s Reform taking from one person more in one day than Labour spent in the entire 2024 general election.
“This is how the crypto millionaires are trying to level the next general election full stop.”
Deputy leader Mr Tice said following the latest donation: “Thank you Ben for helping us employ the best people. We will build the most professional campaign and policy platform.
He added: “We must win to save Britain and make Britain amazing again.”
Ex-Reform candidate Matt Goodwin praised Mr Delo for the donation, describing him as a “patriot, hero, and legend”.
Mr Delo added that it took someone with a “thick skin” to financially back Reform, citing the way Mr Harborne “had been treated” following his donations.
He added: “I believe it is the duty of people with broad shoulders and deep pockets to step up and help Reform to win and govern, rather than allow the British people to be trapped in the political monoculture that is driving this country off a cliff.”