Reform UK, the anti-immigration party led by Nigel Farage, has secured a massive £72 million injection from cryptocurrency billionaires Ben Delo and Christopher Harborne. This unprecedented sum has triggered a Metropolitan Police investigation into whether the party violated laws regarding overseas donations.
A £72 million windfall from Delo and Harborne
The party received two equal donations of £36 million ($48 million) from BitMEX co-founder Ben Delo and crypto investor Christopher Harborne. According to the report, Harborne announced his matching donation on Saturday, stating his support is rooted in the belief that Reform UK’s policies will attract the investment necessary to bolster the British economy and fund public services like healthcare and education.
Delo has structured this contribution to provide the equivalent of £1 million ($1.3 million) per month until the next general election in August 2029. he noted that he is providing the funds upfront as a hedge against the possibility that the UK government might implement new limits on political donations before the next election cycle.
The Metropolitan Police probe into illegal overseas funding
The Metropolitan Police Service confirmed on Wednesday that it has opened an investigation into whether Reform UK violated laws that prohibit political contributions from overseas donors. This legal scrutiny comes as established political parties express alarm over the influence of billionaire wealth on the democratic process.
Liberal Democrat spokesperson Lisa Smart criticized the move, suggestng Nigel Farage is attempting to "buy his way into power" to reach Number 10. Smart added a sharp critique, comparing Farage's political ambitions to a game of Monopoly, stating he is trying to enter the residence "as if it's a stop on a monopoly board."
Ben Delo’s BitMEX history and the "political cartel" claim
The donation from Ben Delo brings significant scrutiny due to his previous legal issues involving the BitMEX cryptocurrency platform. as the report notes, BitMEX was ordered to pay a $100 million fine in 2025 for violating U.S. anti-money laundering laws, and Delo himself was previously pardoned by Donald Trump after pleading guilty to violating the U.S. Banking Secrecy Act.
Writing in the Telegraph, Delo argued his £36 million contribution is intended to "break up the cartel" of the Labour and Conservative parties that have dominated British politics for a century.. He expressed a desire for a "level playing field," suggesting that Reform UK should focus more on preparing for government than on struggling to compete for funds.
The investigation into Nigel Farage’s £5 million gift
A major unanswered question remains regarding the nature of a separate £5 million ($6.7 million) gift Nigel Farage received from Christopher Harborne prior to his election to the House of Commons. while Farage maintains the money was a "personal gift" unrelated to politics, Parliament's standards watchdog is currently investigating his failure to report the sum.
The investigation seeks to determine if these funds were truly private or if they constituted an undeclared political contribution. This ambiguity adds to the pressure on Reform UK, which has already faced allegations of improper fundraising during its recent annual party conference.
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