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Crypto billionaires help Reform cement fundraising lead
TL;DR
Reform UK secured £7m in donations from two overseas British crypto billionaires, Ben Delo and Christopher Harborne, solidifying its fundraising lead. This comes ahead of a new £100,000 cap on donations from British citizens abroad.
Key points
- Reform UK received £7m from two overseas British crypto billionaires
- Ben Delo donated £4m and Christopher Harborne donated £3m
- Donations were made before a £100,000 cap on overseas donations
- The cap has sparked controversy between Reform and Labour
- Reform accuses Labour of choking off legal funding for its rival
Mentioned in this story
Ben DeloChristopher HarborneReform UKLabour
Reform UK received £7m from two overseas British crypto billionaires earlier this year, figures show, helping it cement its fundraising lead in recent months.
Hong Kong-based businessman Ben Delo gave £4m to Nigel Farage's party, according to latest filings, whilst Christopher Harborne, who lives in Thailand, donated £3m.
The donations were made in the weeks before the government announced a £100,000 cap on donations after 25 March from British citizens living overseas.
The planned limit has sparked a row between the two parties, with Reform accusing Labour of "choking off legal funding for its main rival".
The donations were contained in the latest publication of large donations by the Electoral Commission, covering the first three months of this year.
The filings show Reform accepted £2m from Delo on 14 January, and £2m on 2 March, as well as £3m from Harborne on 23 January. None of the donations was made in cryptocurrency.
The donations accounted for the lion's share of the £9.3m in private donations declared by Reform during the period, and around a third of the £20.7m total declared by all parties.
The party also declared a further £1.1m in donations from biotech entrepreneur David Grainger.
Sheffield-born Delo, who co-founded BitMEX, a cryptocurrency trading platform, is a first-time donor to the party but had revealed the donations earlier this year.
Harborne, a British cryptocurrency investor, gave £12m in total to Reform in 2025, including a huge £9m donation in August, the largest ever single sum given by a living person to a British political party.
Farage is under investigation by the parliamentary standards commissioner over whether he should have declared a £5m cash gift he received from Harborne ahead of the 2024 election upon his election as an MP.
Farage argues he was under no obligation to register the "purely private" gift, as it was unrelated to his parliamentary or political activities.
The large donations from individuals meant Reform's fundraising efforts far outstripped those of both Labour and the Conservatives, who each declared around £4m in donations from private sources over the period.
It comes after Nigel Farage's party received more than £5.4m in large donations in the final three months of last year, more than any other, as parties sought to fill their coffers ahead of a crucial set of elections in May.
In the latest three-month period, Labour's biggest donations were £550,000 each from longstanding donor Lord David Sainsbury and Gary Lubner, the former boss of Autoglass, who gave millions to Labour .
Q&A
Who are the crypto billionaires donating to Reform UK?
The two billionaires are Ben Delo, who donated £4m, and Christopher Harborne, who contributed £3m.
What is the significance of the £100,000 donation cap announced by the government?
The £100,000 cap on donations from British citizens living overseas aims to limit funding but has led to accusations from Reform UK that Labour is trying to restrict legal funding for its rivals.
How much money did Reform UK raise from donations in early 2023?
Reform UK raised a total of £7m from the two crypto billionaires in the first three months of 2023.
What controversy arose from the recent donations to Reform UK?
The controversy centers around the timing of the donations and the impending donation cap, with Reform UK accusing Labour of attempting to limit competition.
