Crypto Billionaires Fuel Reform UK’s Fundraising Surge
Nigel Farage’s Reform UK party has received a significant financial boost in the first quarter of 2026, collecting $9.4 million (£7 million) from cryptocurrency billionaires Christopher Harborne and Ben Delo. This sum reportedly surpassed the total donations received by both the Conservative and Labour parties during the same period.
Generous Contributions from Tech Titans
Christopher Harborne, identified as the UK’s sixth-richest individual with an estimated net worth of $24.4 billion (£18.2 billion), made a £3 million donation to Reform UK on January 23. Harborne, a prominent crypto investor who has resided in Thailand for over two decades and holds a 12% stake in stablecoin issuer Tether, has become a substantial benefactor to the party. In 2025, he previously made a record-breaking £9 million donation to Reform UK, the largest recorded gift to a UK political party from a living donor.
Ben Delo, co-founder of the cryptocurrency exchange BitMEX, contributed £4 million through two separate payments in January and March. Delo, who recently returned to the UK from Hong Kong, had previously pleaded guilty in 2022 to violating the U.S. Bank Secrecy Act for failing to implement anti-money laundering protocols at BitMEX. He received a presidential pardon from Donald Trump last year.
Reform UK Outpaces Major Parties in Fundraising
These substantial crypto-related donations propelled Reform UK to a £9.3 million fundraising quarter, eclipsing the Conservative Party’s £6 million and Labour’s £4.1 million. Across all UK-registered political parties, reported donations in the first quarter of 2026 totalled £24 million, with the combined contributions from Harborne and Delo to Reform UK accounting for 28% of this figure.
Political Donations in the Digital Age
The influx of capital from crypto billionaires comes at a time when the UK has announced a moratorium on political donations made in cryptocurrency, alongside a cap on overseas donations from British expatriates. These measures were introduced following the government-commissioned Rycroft review. Prior to this ban, Reform UK was the only major British political party that had accepted cryptocurrency donations, although neither Harborne nor Delo’s recent contributions were made directly in crypto.
Harborne has publicly stated that he believes he was “the reason” behind the cap on overseas donors and suggested that the policy could face legal challenges. He has not ruled out returning to the UK to circumvent the restrictions.
Concerns Over Campaign Finance
Campaign finance reform advocates have pointed to these donations as indicative of systemic issues within the political funding landscape. Olly Buston, chief executive of Clean Up Westminster, commented, “When a tiny number of wealthy donors can spend millions promoting the politicians and causes they favour, it’s no surprise people feel politics is rigged against them.” He added, “The rich and powerful shouldn’t be able to buy themselves a louder voice in our democracy.”
Reform UK has positioned itself as a strong proponent of cryptocurrency within British politics. Party leader Nigel Farage declared in October 2025 that he would be a “champion” for digital assets. The party’s platform includes pro-crypto policies such as the establishment of a crypto strategic reserve and reductions in capital gains taxes on cryptocurrency.
Meanwhile, Farage is currently under investigation by parliament’s standards watchdog regarding the proper declaration of a separate £5 million gift from Harborne. During Prime Minister’s Questions on Wednesday, Prime Minister Keir Starmer accused Farage of “dodging questions” concerning this gift. Farage had previously stated he was under “no obligation” to declare the donation, asserting it had been reviewed “from every legal angle.” While initially claiming the donation was for his personal security, he later described it as a “reward” for his Brexit campaigning.
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