Reform UK Lands £36m Crypto Donor
Reform UK has received a £36m donation from British billionaire Ben Delo, who made his fortune co-founding cryptocurrency trading platform BitMEX. This is the largest single donation to a British political party in history.
Delo's contribution comes as Reform struggles to re-establish momentum following intense scrutiny over its finances. The party has been under investigation for potentially accepting donations from impermissible sources, and has faced criticism for its handling of funds.
Reform leader Nigel Farage said he was 'honoured and humbled' by Delo's donation, which is almost double the combined fundraising total for both Labour and the Conservatives this year. The party plans to use the funds to spend big on advertising, events, and election campaigns across the country.
However, the donation has also invited further scrutiny of Reform's finances, with some accusing the party of trying to buy its way into power. The Liberal Democrats accused Farage of 'trying to bring Trump's America to our shores', while the Green Party said he was 'bought and paid for' by Delo.
The Government has signaled intent to pursue legislation to tackle 'mega-donors' and prevent a small handful of stakeholders from holding outsized influence over British politics. Delo's donation could speed up work on these potential reforms.