Ben Delo, co-founder of crypto exchange BitMEX, said he donated 4 million pounds ($5.1 million) to Nigel Farage’s Reform UK party, in an opinion piece published in the Telegraph on Wednesday.
Delo wrote that the contribution was made “since the start of this year” to help make Reform UK “a genuine alternative party of government”.
The article did not specify whether the donation was made in fiat currency or cryptocurrency, although it also expressed support for a proposed UK government moratorium on political donations made in cryptoassets, citing the complexity of the regulations.
Guidance from the UK Electoral Commission, last updated on April 7, 2026, states that crypto donations are not currently prohibited by electoral law, but are treated as non-cash donations and must be valued in pounds sterling at the time of receipt. Parties must also verify the identity of donors, particularly for contributions over £500.
The Commission also noted the government’s plan to introduce a moratorium on crypto donations, which could apply retrospectively to contributions received from March 25, 2026, although no legal changes have yet come into force.
Late last month, British Prime Minister Keir Starmer’s government announced an immediate moratorium on cryptocurrency donations to political parties, citing concerns that digital assets could be used to obscure the origin and motivation of donations in British politics.
The move placed crypto at the center of a broader crackdown on foreign interference, signaling that regulators view digital payments as a democratic rather than a financial risk.
Electoral Commission data does not reveal any contributions listed under Delo or BitMEX.
Delo did not respond to a request for further information from CoinDesk.
Farage acknowledged the support for X, writing that “brave people like Ben Delo” were becoming “even more determined” to support Reform UK.
In December, British multibillionaire Christopher Harborne, a Thailand-based entrepreneur who has invested in stablecoin issuer Tether and crypto exchange Bitfinex, donated 9 million pounds to Reform.
