Nigel Farage's Reform UK party collected $9.4 million (£7 million) from cryptocurrency billionaires Christopher Harborne and Ben Delo in the first quarter of 2026, surpassing the total donations received by each of the Conservative and Labour parties. Harborne, ranked as the UK's sixth-richest person with a net worth of $24.4 billion, donated £3 million on January 23, while BitMEX co-founder Delo provided £4 million across two payments in January and March. The crypto billionaires' contributions represented 28% of all donations received by UK-registered political parties in Q1 2026, coming after the UK government announced a moratorium on political donations made in crypto and a cap on overseas donations from British expats following the Rycroft review.
Harborne Contributes £3 Million in January Donation
Christopher Harborne donated £3 million to Reform UK on January 23. The crypto investor, who has lived in Thailand for over 20 years and holds a 12% stake in stablecoin issuer Tether, has emerged as one of the party's largest benefactors. In 2025, he made a £9 million donation to Reform UK that broke records as the largest gift to a UK party from a living donor. Harborne claimed that he was "the reason" behind the cap on overseas donors, adding that he believed it could be challenged in court and that he has not ruled out returning to the UK to get around it.
Delo Provides £4 Million Across Two Payments
Ben Delo, the co-founder of crypto exchange BitMEX, provided £4 million across two payments in January and March. Delo, who returned to the UK from Hong Kong this year, pleaded guilty in 2022 to violating the U.S. Bank Secrecy Act for failing to establish anti-money laundering protocols at BitMEX. He received a presidential pardon from Donald Trump last year. Neither Harborne nor Delo's contributions were made in crypto.
Reform UK Surpasses Conservative and Labour Fundraising Totals
The crypto donations propelled Reform UK to a £9.3 million fundraising quarter, surpassing both the Conservative Party's £6 million and Labour's £4.1 million hauls. In total, UK-registered political parties reported that they had accepted donations worth £24 million in the first quarter of 2026, with Harborne and Delo's donations to Reform UK amounting to 28% of that figure.
UK Implements Donation Restrictions Following Rycroft Review
The influx of capital from crypto billionaires comes after the UK announced a moratorium on political donations made in crypto, and a cap on overseas donations from British expats, following the government-commissioned Rycroft review. Prior to the ban, Reform UK was the only major British political party to accept crypto donations. Campaign finance reform advocates have seized on the donations as evidence of systemic problems. "When a tiny number of wealthy donors can spend millions promoting the politicians and causes they favour, it's no surprise people feel politics is rigged against them," said Olly Buston, chief executive of Clean Up Westminster, adding that, "The rich and powerful shouldn't be able to buy themselves a louder voice in our democracy."
Reform UK Adopts Pro-Cryptocurrency Policy Platform
Reform UK has emerged as one of the most vocal advocates for cryptocurrency in British politics, with party leader Nigel Farage stating that he would be a "champion" for digital assets in October 2025. The party has adopted pro-crypto policies including the establishment of a crypto strategic reserve and cuts to capital gains taxes on cryptocurrency.
Farage Faces Standards Investigation Over Separate £5 Million Gift
Farage faces an investigation by parliament's standards watchdog over whether he properly declared a separate £5 million gift from Harborne. During prime minister's questions on Wednesday, UK prime minister Keir Starmer accused Farage of "dodging questions" over the gift. Farage had earlier stated that he was under "no obligation" to declare the gift, adding that it had been reviewed "from every legal angle." Having initially claimed that the donation was to pay for his personal security, he later described it as a "reward" for his Brexit campaigning.
FAQ
How much did crypto billionaires donate to Reform UK in Q1 2026?
Christopher Harborne and Ben Delo donated a combined $9.4 million (£7 million) to Reform UK in the first quarter of 2026. Harborne contributed £3 million on January 23, while Delo provided £4 million across two separate payments in January and March.
What percentage of UK political donations did the crypto billionaires' contributions represent?
The £7 million donated by Harborne and Delo to Reform UK represented 28% of the total £24 million in donations accepted by all UK-registered political parties in the first quarter of 2026. This amount exceeded the individual fundraising totals of both the Conservative Party (£6 million) and Labour (£4.1 million) during the same period.
