British crypto billionaire Ben Delo has donated a further £4 million (approx. $5.40 million) to Reform UK, taking his total contributions to the party to £8 million (approx. $10.80 million). The donation comes as the UK government moves to tighten rules on large political donations from British citizens living overseas.
Delo entered a guilty plea to a violation of the Bank Secrecy Act in the United States in 2022 after prosecutors said BitMEX had not maintained sufficient anti-money-laundering measures. He was eventually pardoned by US President Donald Trump. According to Delo, the case was a regulatory failure involving measures that, in his opinion, would not have constituted a crime in the United Kingdom.
Reform UK said it is confident the donation complies with current rules. Delo has been based in Hong Kong and is reportedly planning to return to the UK. The Electoral Commission reported that political parties received more than £17.1 million (approx. $23.14 million) in donations and public funds in the second quarter of 2026, with Reform UK receiving more than £5.3 million (approx. $7.17 million) in donations.
The proposed rules would introduce a £100,000 (approx. $135,330) limit on donations from overseas-based British citizens, but the Electoral Commission has said the measure is not yet fully in force.
Reform UK received £5,333,657 (approx. $7,218,624.72) in donations and £103,703 (approx. $140,341) in public subsidies during the quarter, totaling £5,437,360 (approx. $7,358,977.40) in accepted funding, according to the Electoral Commission. According to the recently disclosed data, Delo’s £4 million (approx. $5.40 million) donation made up about three-quarters of the party’s donation income during that time.
With his most recent payment of £8 million (approx. $10.80 million), Delo is now Reform UK’s second-largest donor, behind cryptocurrency investor Christopher Harborne of Thailand, who has contributed £15 million (approx. $20.24 million) to the party since the last election and £5 million (approx. $6.77 million) to Nigel Farage directly prior to May 2024. The achievement is indicative of a fundraising strategy that has become more dependent on substantial individual contributions as opposed to a wide range of smaller donors.
Reuters reported that Delo’s £4 million (approx. $5.40 million) contribution accounted for about 75 per cent of Reform UK’s fundraising in the quarter, underlining the importance of a single donor to the party’s finances.
The Electoral Commission recorded £5.33 million (approx. $7.21 million) in donations to Reform UK, compared with £3.59 million (approx. $4.86 million) to Labour and £2.81 million (approx. $3.80 million) to the Conservatives. Including public funds, Reform accepted £5.44 million (approx. $7.36 million) during the quarter, compared with £3.61 million (approx. $4.89 million) for Labour and £4.04 million (approx. $5.47 million) for the Conservatives.
The figures give Reform UK substantial financial resources as parties prepare for the possibility of an early election. They also highlight a contrast in the party’s position. While Reform has presented itself as a challenger to the established political system, its fundraising includes donations on a scale more commonly associated with major political donors. As those donations grow, the source and legality of the money are likely to come under closer scrutiny from voters, journalists and regulators.
Under current rules, certain British residing overseas can contribute as long as they satisfy the electoral registration criteria. Legislation has been suggested under the government imposing a £100,000 (approx. $135,330) yearly ceiling on contributions by overseas voters and this applied retrospectively from contributions made starting from 25 March 2026. Hence, Delo’s case has come into consideration. Delo was stationed in Hong Kong and according to some analysts, he could be subjected to the proposed limitations.
However, Reform UK has stated that it is certain it won’t have to reimburse his most recent £4 million (approx. $5.40 million) donation. According to the party’s stance, Delo satisfies the necessary conditions, possibly due to his length of stay on the UK domestic electoral register or the fact that the proposed limits do not apply to him as first thought.
Businessman Gary Lubner, supermarket owner Lord Sainsbury, and entrepreneur Ali Mosawi all made substantial contributions to Labor. Banker Henry Angest’s company, Flowidea, made a donation to the Conservatives. Cade Hill Investments, connected to technology entrepreneur Simon Galbraith, donated £250,000 (approx. $337,393) to Restore Britain.
As a result, the discussion is not limited to just one party. Across the political spectrum, large private donations continue to be a staple of political fundraising. The main concerns are whether the size of those contributions gives affluent people or organizations undue power and whether the current regulations offer sufficient protections.
According to the most recent data released by the Electoral Commission, political parties in the UK collected a total of £17,085,354 (approx. $23,121,610) from donations and other forms of public financial assistance during the second quarter of 2026, as opposed to £11,346,722 (approx. $15,355,519) that was collected during the same period last year. Although this amount was lower than the £24.5 million (approx. $33.16 million) which was reported during the first quarter of the same year, it still represents quite a respectable amount of funding that political organizations have received.
