Ben Delo, co-founder of BitMEX, and Christopher Harborne, an investor in Tether, each donated £36 million to the Reform UK party in September 2026. The total sum of £72 million represents the largest private political donation in British history.
Angela Rayner, deputy leader of the Labour Party, announced proposed amendments to the Representation of the People Bill. The legislation aims to prevent wealthy individuals from purchasing political influence and may be applied retroactively to these contributions.
The UK government previously implemented a moratorium on cryptocurrency donations in March 2026 following the Rycroft Review. Additionally, contributions from British citizens living abroad are capped at £100 000.
Although the recent donations were made in fiat currency rather than cryptocurrency, the government is scrutinizing the crypto-linked origins of the donors' wealth. Both men are currently subject to parliamentary and police investigations regarding their funding sources.
Christopher Harborne has previously been linked to £15 million in donations to Reform UK since the last general election. The party also faces inquiries regarding a separate £5 million gift provided by Harborne to Nigel Farage.
