BitMEX Co-Founder Delo Sets Record with £36 Million Donation to Reform UK
BitMEX co-founder Ben Delo has made headlines after donating £36 million to Reform UK, setting a record for the largest single contribution to a British political party. This donation surpasses the previous high of £10 million and nearly matches the £38 million the party had raised since its launch in 2021.
The payment is significant not only because of its size but also due to the timing, as it comes amid concerns about possible changes to political-finance rules before the next general election. Delo said providing the money immediately would protect his planned support from future legislative restrictions.
Reform UK's funding base has expanded significantly after Delo's latest contribution, which brings his reported support for the year to around £44 million. The party must still verify donors and meet reporting requirements under existing UK rules, but there is no general ceiling on donations from permissible domestic donors.
The donation also raises questions about Delo's past at BitMEX, where he co-founded the cryptocurrency derivatives exchange with Arthur Hayes and Samuel Reed. In 2022, he pleaded guilty in the United States to failing to establish a Bank Secrecy Act-compliant anti-money-laundering program.