Ben Delo, co-founder of the cryptocurrency exchange BitMEX, has donated £4 million (approximately $5.1 million) to Nigel Farage's Reform UK political party. Delo disclosed the contribution in an opinion piece published in The Telegraph on Wednesday, stating the funds were provided "since the start of this year" to help build Reform UK into "a genuine alternative party of government."
The op-ed did not specify whether the donation was made in fiat currency or cryptocurrency. Notably, Delo expressed support for a proposed U.K. government moratorium on political donations made in cryptoassets, citing regulatory complexity.
This donation arrives amidst a significant regulatory shift. In late March, U.K. Prime Minister Keir Starmer's government announced an immediate moratorium on cryptocurrency donations to political parties. The government cited concerns that digital assets could be used to obscure the origin and motivation behind donations, placing crypto at the center of a broader crackdown on foreign interference. This move signals regulators view digital payments as a potential democratic risk.
Current guidance from the U.K. Electoral Commission, last updated on April 7, 2026, states that crypto donations are not prohibited under electoral law but are treated as non-monetary donations. They must be valued in pounds sterling at the time of receipt, and parties must verify donor identity, especially for contributions over £500. The Commission also noted government plans to introduce a formal moratorium, potentially applying retrospectively to contributions received from March 25, 2026, though no legal changes have yet taken effect.
Electoral Commission data does not list any contributions under Delo or BitMEX. Delo did not respond to a CoinDesk request for further comment. Nigel Farage acknowledged the support on social media platform X, writing that "brave people like Ben Delo" were becoming "even more determined" to back Reform UK.
This is not the first major crypto-linked donation to the party. In December, British multi-billionaire Christopher Harborne, a Thailand-based entrepreneur who has invested in stablecoin issuer Tether and crypto exchange Bitfinex, donated £9 million to Reform UK.
