BitMEX Co‑Founder Ben Delo Donated £4 million to Reform UK in Q2

Electoral Commission data released on Wednesday confirms that Ben Delo, co‑founder of the cryptocurrency exchange BitMEX, made two cash donations to Reform UK in April – £1 million on 17 April and £3 million on 30 April. The two payments represent 72 % of the party’s total declared donations for the second quarter.

Scale of the contributions

Reform UK reported 40 donations totalling £5.55 million for Q2. Removing Delo’s £4 million leaves the next‑largest single gift at £180,000. By comparison, the Conservative Party received £4.2 million from 188 donors and Labour £3.6 million from 94 donors during the same period.

Other crypto‑linked donors

Delo has been a recurring donor, giving £2 million in January and another £2 million in March, bringing his total contributions to Reform UK to £8 million for the year. Another crypto‑linked donor, Christopher Harborne, contributed £3 million in January but did not appear in the Q2 register, contributing to a 44 % drop in Reform’s income from £9.94 million to £5.55 million.

Regulatory context

Britain introduced a ban on crypto‑asset donations in March 2026 and a £100,000 cap on overseas donors in July 2026. Delo’s cash donations are not subject to these rules. BitMEX, the exchange that generated Delo’s wealth, announced it will close on 23 September 2026 following a strategic review by its owner, HDR Global Trading Limited.

Implications for Reform UK

The party’s next donation register, due in November, will reveal whether it can sustain fundraising without Delo’s contributions.