$97 Million Crypto Donations Fuel Concerns Over Money in Politics
Reform UK, an anti-immigration party led by Brexit campaigner Nigel Farage, received a significant donation of $97 million from two cryptocurrency billionaires. The money came in the form of matching donations from Ben Delo and Christopher Harborne, co-founder of BitMEX and a crypto investor respectively. Delo donated $48 million to Reform UK, while Harborne matched it with another $48 million.
According to Farage, the donation was designed to help break up what he sees as the 'cartel' that controls British politics - the Labour and Conservative parties. Delo stated in a letter to the Telegraph newspaper that his goal is to create a level playing field for all political parties, rather than perpetuating a system where a few dominant parties hold sway.
The Liberal Democrats have expressed concern about the unlimited donations from billionaire businessmen, saying it risks corrupting elections and undermining British democracy. The party's spokesperson, Lisa Smart, stated that Farage is trying to 'buy his way into power'.