Reform UK Soaks Up £20m in Crypto Donations Amid Policy Criticisms

Nigel Farage's Reform UK has raked in £20m from cryptocurrency investors since the general election, according to Electoral Commission data.

The analysis shows that a staggering 60% of the party's funding comes from wealthy individuals associated with crypto. The largest donations came from Christopher Harborne, a crypto billionaire who gave £15m, and two payments of £2m each from Ben Peter Delo, founder of cryptocurrency trading platform BitMex.

Labor Party chair Bridget Phillipson criticized Farage for taking a £5m donation from Harborne, which he claimed was a personal gift. She accused him of treating the public with contempt and said that donations from crypto investors raise concerns about influence and policy.

The Labor Party has taken a strict stance on cryptocurrency, banning temporary donations and capping individual contributions to prevent 'unfair influence'. Reform UK's policies aim to liberalize the crypto market, cut taxes on profits, and create a Treasury bitcoin reserve fund, echoing views of ally Donald Trump who profited heavily from crypto while in office.