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 for The Telegraph Wednesday.
Delo wrote that the contribution was made “since the start of this year” to help build Reform UK into “a genuine alternative government party.”
The op-ed does not specify whether the donation was made in fiat currency or cryptocurrency, although he also expressed support for a proposed UK government moratorium on political donations in crypto assets, citing regulatory complexities.
Guidance from the UK Electoral Commission, last updated 7 April 2026, states that crypto-donations are currently not prohibited under electoral law, but are treated as non-monetary donations and must be valued in pounds on receipt. Parties must also confirm the identity of the donor, particularly for contributions over £500.
The commission also noted the government’s plans to introduce a moratorium on crypto donations, potentially retroactive to contributions received from March 25, 2026, although no legal changes have yet come into effect.
Late last month, UK 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 origins and motivations behind donations in British politics.
The move placed crypto at the center of a broader crackdown on foreign interference, signaling that regulators see digital payments as a democratic rather than an economic risk.
The Electoral Commission data does not reveal any contributions listed under Delo or BitMEX.
Delo did not respond to a CoinDesk request for additional information.
Farage acknowledged the support at X, writing that “courageous people like Ben Delo” were becoming “even more determined” to support Reform UK.
In December, British multi-billionaire Christopher Harborne, a Thailand-based entrepreneur who has invested in stablecoin issuer Tether and crypto exchange Bitfinex, donated £9m to Reform.
