Reform UK Scores Record £36 Million Crypto Donation Amid Election Funding Controversy

Nigel Farage's Reform UK party has secured its largest single donation ever from Ben Delo, co-founder of the BitMEX cryptocurrency exchange. The £36 million donation is intended to help ensure a 'fair fight' in the run-up to the next stage of voting.

The payment is structured as £1 million per month up to the general election in 2029, but Delo made the full payment upfront so it couldn't be blocked. This detail matters because the controversy around crypto donations in the UK has focused on how such funding is timed and administered.

The donation adds new pressure to discussions about imposing a permanent ban or moratorium on crypto donations in response to Farage's earlier major crypto-linked donors, including Christopher Harborne, who gave £9 million. Labour MPs were considering making the existing moratorium permanent in response to the situation.