LONDON — Nigel Farage’s Reform UK has received an extraordinary £72 million in donations from two cryptocurrency billionaires, giving the populist party an unprecedented financial war chest as it prepares for Britain’s next general election.
The two donations — £36 million each from BitMEX co-founder Ben Delo and crypto investor Christopher Harborne — arrived on consecutive days, making the combined contribution one of the largest political funding windfalls in modern British history. Reuters reported that Harborne announced his £36 million donation on Saturday, matching Delo’s record contribution announced the previous day.
The scale of the money immediately put Reform UK under an even brighter political spotlight.
The donations amount to about $97 million, according to reports from the Associated Press and other international outlets. AP said the combined contribution exceeds the total donations received by all British political parties during 2025.
A financial boost unlike anything Reform has seen
Delo, a co-founder of the cryptocurrency trading platform BitMEX, announced the first £36 million contribution on Friday. Harborne then matched it the following day.
Harborne has been one of Reform UK’s biggest financial backers and said his decision to match Delo’s contribution was driven partly by what he described as a competitive instinct after learning about Delo’s record donation.
Farage welcomed the donations, saying the money would allow Reform UK to compete more effectively with Labour and the Conservatives at the next election.
The unprecedented fundraising comes at a crucial moment for Reform. The party has gained significant political momentum but is also facing intense scrutiny over its finances and allegations involving foreign funding.
£72 million arrives as Reform faces police scrutiny
The timing of the donations is particularly significant because the Metropolitan Police is already investigating allegations surrounding Reform UK’s fundraising practices.
The investigation was expanded after an undercover investigation appeared to show senior Reform figures discussing potential ways of handling money linked to an American donor. Reform has denied wrongdoing and said it will cooperate with investigators.
Two senior Reform figures, Dan Jukes and James Orr, were suspended following the controversy.
Farage has repeatedly denied that his party broke electoral law and has described some of the discussions captured by undercover journalists as inappropriate conversations rather than evidence of illegal activity.
The controversy has now placed the party’s enormous new financial resources under additional scrutiny.
Why the donations are politically explosive
The £72 million gives Reform UK an enormous capacity to expand its political operation well before the next general election.
The Guardian noted that the sum is larger than the combined spending of the major British parties during the 2024 general election, giving Reform the potential to dramatically increase its staffing, campaigning and organization across the country.
That could be especially important for Reform, which has been attempting to transform itself from a protest-oriented political movement into a party capable of winning parliamentary seats across Britain.
But the money also creates a political vulnerability.
Opponents have questioned whether extremely wealthy individuals should have such a large influence over British political parties. The Liberal Democrats have called for tighter controls on political donations, including proposals for limits on the amount individuals can contribute.
The crypto connection adds another layer
Both donors come from the cryptocurrency world, making the donations particularly notable as Reform has promoted policies favorable to the sector.
Delo previously pleaded guilty in the United States to violating anti-money-laundering requirements connected to BitMEX and was later pardoned by former U.S. President Donald Trump.
Harborne, meanwhile, has previously donated millions to Reform and has been linked to the cryptocurrency industry, including an investment in stablecoin issuer Tether.
Both men have said they expect nothing in return for their donations. Reform has likewise said the donors will not receive political favors such as peerages, government contracts or policy changes in exchange for their support.
Reform’s financial transformation
The scale of the new donations becomes clearer when compared with Reform UK’s previous fundraising.
Electoral Commission data showed that Reform accepted about £5.44 million in reported donations in the second quarter of 2026, far below the £72 million announced by Delo and Harborne alone.
The commission’s records also show that both Delo and Harborne were already significant Reform donors earlier in 2026.
The new donations therefore represent a dramatic acceleration in the party’s financial resources.
The bigger question: Can money turn into votes?
For Farage, the £72 million could provide the resources needed to build a much more sophisticated nationwide political operation.
But money alone does not guarantee electoral success.
Reform must still convert its growing support into parliamentary seats under Britain’s first-past-the-post electoral system. At the same time, the party must navigate investigations into its finances and convince voters that its fundraising practices are transparent and lawful.
The enormous donations therefore give Farage both an opportunity and a new political liability.
Reform UK now has the money to campaign on an unprecedented scale.
The question is whether that £72 million becomes the financial foundation of Farage’s rise to power — or the beginning of an even bigger battle over who gets to influence British politics.
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