Ben Delo, co-founder of BitMEX, donated £36 million to the Reform UK party on Friday. This contribution marks the largest single donation in British political history and exceeds his previous donations of £8 million made earlier this year. Delo plans to contribute the equivalent of £1 million monthly until 2029, but opted for an upfront payment to mitigate potential legislative caps on large donations.
Tether investor Christopher Harborne matched the donation on Saturday, contributing another £36 million. Harborne, who is based in Thailand, has previously donated £15 million to the party since the last election. The combined total of £72 million, equivalent to $97 million, surpasses the total donations received by all UK political parties throughout the previous year.
Reform UK intends to utilize these funds to recruit 400 campaign managers and policy experts. The party stated it is now operating on an election footing. Despite the donors' backgrounds in the cryptocurrency industry, the contributions were made in fiat currency, as the United Kingdom banned political donations in crypto assets in March.
The donations occur amid ongoing regulatory scrutiny. The Metropolitan Police are currently investigating allegations regarding the party's funding sources, specifically concerning potential circumvention of bans on foreign money. Additionally, the Parliamentary Commissioner for Standards is reviewing a previous £5 million personal gift from Harborne to Nigel Farage.
