Reform UK Receives 75% of Quarterly Donations From Crypto Entrepreneur Pardoned by Trump

LONDON: Britain’s populist Reform UK party received a £4 million ($5.4 million) donation from cryptocurrency entrepreneur Ben Delo, who was convicted in the United States of violating banking secrecy laws and was later pardoned by U.S. President Donald Trump, according to Reuters.

The donation accounted for around 75% of Reform UK’s total fundraising during the April-June quarter, highlighting the growing role of cryptocurrency-linked wealth in British political financing.

Reform UK raised a total of £5.3 million during the quarter, exceeding the private donations received by both the Labour Party and the Conservative Party. Labour raised £3.6 million, while the Conservatives collected £2.8 million over the same period.

Delo, co-founder of cryptocurrency derivatives exchange BitMEX, pleaded guilty in the United States in 2022 to violating banking secrecy requirements. He was subsequently pardoned by President Trump and has recently moved from Hong Kong to the United Kingdom, where he has become involved in political activities.

The latest contribution comes as Reform UK leader Nigel Farage seeks to strengthen the party’s financial position and present it as a credible contender for government. The party has gained significant political momentum since the 2024 general election.

The fundraising figures also come amid scrutiny of political donations to Reform UK. The party’s previous major donor, Christopher Harborne, was absent from the latest quarter’s donations. Harborne, a British-born cryptocurrency businessman based in Thailand, has previously been linked to a £5 million donation to Farage that is the subject of a parliamentary investigation. Farage has denied wrongdoing.

The issue of political donations from British citizens living overseas has become increasingly contentious, with the UK government preparing regulations that would restrict such contributions.

The substantial contribution from Delo is likely to fuel further debate over transparency, political influence and the role of cryptocurrency wealth in Britain’s electoral system, particularly as Reform UK continues to position itself as a major force in national politics.