Crypto Billionaire Ben Delo Pledges Record 36 Million Pounds to Reform UK

Cryptocurrency billionaire Ben Delo has announced a record-breaking donation of 36 million pounds ($48.7 million) to the populist Reform UK party. Delo, the British co-founder of the BitMEX cryptocurrency trading platform, was convicted in the United States for violating the Bank Secrecy Act and later pardoned by President Donald Trump. According to Delo, his goal is to ensure a "fair fight" against Britain's two major political parties—the ruling Labour Party and the Conservative opposition.

Reform UK and Political Turbulence

Founded in November 2018 as the Brexit Party, Reform UK currently holds eight seats in the British parliament and is led by Nigel Farage. While the party enjoyed a lead in public opinion polls for over a year, it has recently experienced a decline in support following a series of controversies regarding campaign donations. Earlier this week, the party suspended two senior aides over suspicions of receiving foreign donations.

Reform UK is making serious plans for government, and that is more than the Labour Party did before it won in 2024. It takes time to develop measured and reasoned policies and draft legislation, and that requires real money.

Nigel Farage and Regulatory Scrutiny

Amid the donation scandal, Farage announced in July that he would resign from parliament to trigger a special election for his seat, in which he intends to run again to demonstrate public backing against the "establishment." Farage is currently facing an investigation by parliament's ethics watchdog over a 5 million pound ($6.69 million) gift from Thailand-based crypto investor Christopher Harbourne, which critics allege was improperly reported. Farage maintains the funds were a personal gift used for security arrangements and received prior to his election to the House of Commons.