New data from the UK Electoral Commission indicates that Ben Delo, a co-founder of the cryptocurrency exchange BitMEX, was responsible for roughly three-quarters of the total donations received by the Reform UK party during the second quarter of 2026. This revelation adds another layer to ongoing discussions about the influence of digital asset figures in British politics.
Massive Contributions from Crypto Executives
According to filings made public on Thursday, Delo made two separate payments to Reform UK in April: one for £1 million (around $1.3 million) and another for £3 million (approximately $4 million). Combined, these donations accounted for 74% of the £5.5 million (about $7.3 million) the party reported receiving between April and June. While other entities and individuals also contributed during this period, Delo's donations dwarfed all others.
This is not the first time Delo has supported the party. He previously contributed $5.3 million to Reform UK in the first quarter of 2026.
Scandal Surrounding Party Leader Nigel Farage
The influx of crypto-linked donations comes as Reform UK leader Nigel Farage faces a separate investigation. He is under scrutiny for accepting millions of dollars in donations and gifts from two other cryptocurrency industry figures: Christopher Harborne and George Cottrell. The controversy escalated in July when Farage resigned as a Member of Parliament, triggering a by-election that he ultimately won with 63% of the vote, defeating satirical candidate Count Binface.
The donations have raised concerns among other lawmakers about the potential for digital assets to unduly influence UK policy. In July, Labour MPs reportedly considered making a March moratorium on cryptocurrency donations permanent, in response to what Farage himself described as 'gifts' from Harborne and Cottrell.
Delo's Legal History and Pardon
Ben Delo is one of three BitMEX co-founders who pleaded guilty to U.S. federal charges related to violations of the Bank Secrecy Act. While he agreed to pay a $10 million fine in 2022, he did not serve prison time. Both Delo and his colleagues, Arthur Hayes and Samuel Reed, received a pardon from former U.S. President Donald Trump in March 2025.
The situation highlights the complex intersection of cryptocurrency wealth, political donations, and regulatory scrutiny, both in the UK and abroad.