Reform UK given record £36m donation from crypto billionaire Ben Delo

Reform UK has received a £36m donation from British cryptocurrency billionaire Ben Delo - making it the largest single donation to a UK political party on record.

Mr Delo said he was making the donation to create "a level playing field" with other parties and ensure that Reform is given a "fair fight" at the polls in the next general election.

The donation makes him Reform's largest donor ahead of fellow crypto entrepreneur Christopher Harborne, who donated £9m to the party in August.

Writing in the Daily Telegraph, Mr Delo said: "Unlike the people who express mock concern for the health of 'our democracy' while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field.

"My conclusion from Reform's recent troubles is that they should spend less time trying to raise funds to compete on equal terms and more time preparing for government."

Party leader Nigel Farage welcomed the donation, saying he is "honoured and humbled" at Mr Delo's support.

"Ben knows that we are the only party that can turn the country around and reverse Britain's decline," he added.

Mr Delo, who co-founded the cryptocurrency trading platform BitMEX, was convicted in the US of a Bank Secrecy Act violation, before being pardoned by President Donald Trump.

The Daily Telegraph reports the £36m figure represents £1m a month between now and the latest possible date of the next general election in 2029, but Mr Delo made the payment upfront to avoid attempts to block it.

MPs last week backed measures on political donations including a cap on overseas donations at £100,000 and a suspension of funding through cryptocurrency, but the draft legislation still needs to be passed by the House of Lords.

They argue the changes will prevent foreign money from influencing elections, but Reform says it's a bid to choke its funding.

The donations come as the party faces questions over its finances, including an undercover investigation by Channel 4, which showed senior figures within the party appearing to discuss how to disguise donations from foreign backers.

Reform has denied any wrongdoing and says it will fully co-operate with the Metropolitan Police during its investigation.

Mr Farage's long-term aide Dan Jukes and head of policy James Orr have been suspended from the party pending an internal probe into the allegations, which overshadowed their annual conference last week.

In addition, the parliamentary standards watchdog is also looking into a £5m donation from Mr Harborne, but Mr Farage has said he has done nothing wrong, and the gift was not political.

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A Labour spokesperson says the questions around Reform's finances are "piling up", adding that Mr Farage is "still up to his neck in scandal".

"Reform UK can't buy their way out of questions about sleaze, criminal mates and dodgy finances.

"It's time Farage and Reform finally came clean with the public, co-operated fully with the police, and proved they're not just in it for themselves."

Liberal Democrat Cabinet Office spokesperson Lisa Smart added: "Nigel Farage wants to bring Trump's America to our shores by buying his way into power. He's trying to get into Number 10 as if it's a stop on a monopoly board.

"It can't go on like this. Andy Burnham needs to introduce a cap on political donations. Our democracy depends on it."

(c) Sky News 2026: Reform UK given record £36m donation from crypto billionaire Ben Delo