Reform UK Receives £4 Million From Pardoned Crypto Billionaire

British crypto billionaire Ben Delo has given Reform UK an additional £4 million, bringing his total donations to the party to £8 million. Delo was convicted in the US in 2022 for failing to implement adequate anti-money laundering controls at BitMEX, but was later pardoned by Donald Trump.

Delo's latest donation puts him as Reform UK's second-largest contributor behind Thai-based crypto investor Christopher Harborne, who has given £15 million to the party since the last election. However, it is unclear whether Delo will be caught by the new overseas donor cap, which states donors must have been on the UK domestic electoral register for at least 12 months.

Reform UK claims to be confident that Delo's donation will not be subject to the cap, suggesting he may have been registered on the electoral roll longer than previously thought. This has raised concerns about the effectiveness of the donor cap in limiting large donations from overseas donors.