Crypto Billionaire's £4 Million Boost to Reform UK
Ben Delo, a British billionaire who co-founded the cryptocurrency exchange BitMEX, has revealed a substantial £4 million donation to Nigel Farage's Reform UK party. The 42-year-old entrepreneur, currently based in Hong Kong but planning a return to the UK, made the contribution earlier this year, prior to new government restrictions on political donations from British citizens living abroad.
A Pardoned Convict Turned Political Donor
Delo's background includes a 2022 conviction in the United States for violating the Bank Secrecy Act, specifically for failing to implement adequate anti-money-laundering controls at BitMEX. He pleaded guilty to the charges but received a presidential pardon from Donald Trump last year. In a detailed article for the Telegraph, Delo described this episode as involving a "regulatory failing that isn't even a crime in the UK." He now identifies as a champion of free speech and has become politically active for the first time in his life.
Motivations Behind the Massive Donation
In his Telegraph piece, Delo explained his decision to support Reform UK with passionate rhetoric. He declared that England remains his home and argued that "the biggest obstacle to national recovery is the entrenched self-deception of our elites." Delo wrote forcefully: "Their regime of nonsense now poses such a grave threat to the UK that, for the first time in my life, I've become politically active." He added that since the start of this year, he has donated £4 million to help Nigel Farage build Reform UK into "a genuine alternative party of government."
Delo praised the party for "leading in the polls by virtue of recognising and articulating the full scale of the problems our country faces." He expressed newfound optimism, stating: "For the first time, I feel that serious people are looking honestly at what it might take to fix Britain." As someone on the autism spectrum, Delo also criticized what he perceives as a culture of dishonesty in government, particularly regarding views on transgender issues.
Farage's Response and Strategic Implications
Nigel Farage welcomed Delo's support with enthusiasm, telling the Telegraph: "Our priority is to build a detailed programme for government so, if we are elected, we have the right policies in place to get Britain back on its feet as quickly as possible." Farage emphasized that Delo's contribution would help Reform UK attract more skills and talents needed to prepare for government. He added personally: "It is particularly gratifying to me that someone like Ben, a builder and a visionary and a problem-solver, who has spent a lifetime grasping trends before other people do, sees the potential of Reform."
Broader Political Network and Philanthropic Activities
Beyond this donation, Delo maintains an extensive network of political and philanthropic engagements. He supports over 50 organizations across the political spectrum and public life, including non-affiliated groups and individuals. A recent Guardian investigation, conducted jointly with Hope Not Hate, revealed that Delo provides funding, networking opportunities, and in-kind support through a suite of rooms in a building overlooking Westminster Abbey, known as the Sanctuary.
This facility offers free access for events, office space, and podcasting to various figures. Some beneficiaries have expressed hardline positions on immigration, nationalism, and abortion. For instance, Restore Britain, the party founded by former Reform UK MP Rupert Lowe, launched its campaign for mass deportation of millions of migrants from a room at the Sanctuary last year.
Delo's lawyers have previously stated to the Guardian that he provides space for diverse views and financial support to a broad range of organizations, many with conflicting opinions, without necessarily endorsing each one. Delo claims to have poured more than £100 million into philanthropy overall.
Impact on Reform UK's Funding Landscape
Delo's £4 million donation comes as Reform UK faces potential constraints from new rules capping donations by British citizens living abroad. Since Delo is moving back to the UK, he will not be subject to these future limitations. However, the cap may affect further contributions from other key donors, such as Christopher Harborne, who is based in Thailand and has given £12 million to the party so far.
This financial injection underscores Delo's significant influence and his alignment with Reform UK's vision, marking a notable moment in the party's evolution as it positions itself for greater political impact.
