Ben Delo, co‑founder of crypto exchange BitMEX, says he has donated £4 million ($5.1 million) to Nigel Farage’s Reform UK party — a contribution he announced in an opinion piece for The Telegraph Wednesday. Delo wrote the gift was made “since the start of this year” to help turn Reform UK into “a genuine alternative party of government.” He did not say whether the funds were sent in fiat or crypto.
The timing comes amid growing scrutiny of digital-asset political donations. Delo’s op‑ed also voiced support for a proposed U.K. government moratorium on crypto donations, arguing the space is “regulatory complex.” That stance aligns with recent government moves: late last month Prime Minister Keir Starmer’s administration imposed an immediate moratorium on cryptocurrency donations to political parties, citing concerns that digital assets can obscure the origin and intent of contributions and pose a democratic risk.
Current guidance from the U.K. Electoral Commission, updated April 7, 2026, notes crypto donations are not expressly banned under electoral law but are treated as non‑monetary donations. Parties must value such contributions in pounds at the time they are received and verify donor identities — rules that apply especially where donations exceed £500. The Commission has also flagged government plans for a moratorium that could apply retrospectively to donations received from March 25, 2026, although no legal changes are yet in force.
Electoral Commission records do not list any contributions under Delo’s name or under BitMEX, and Delo did not respond to a CoinDesk request for further comment. Farage acknowledged the donation on X, saying “brave people like Ben Delo” were becoming “even more determined” to support Reform UK.
Delo’s gift is the latest large donation linked to wealthy figures with crypto ties: in December, billionaire investor Christopher Harborne — who has backing connections to stablecoin issuer Tether and exchange Bitfinex — gave £9 million to Reform UK. The Delo disclosure reinforces the spotlight on how political financing and crypto intersect — and how regulators are racing to define the rules.
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