Crypto Moguls Pledge £72M to Fund Reform UK Election Campaign

Two prominent figures in the cryptocurrency sector have announced a combined pledge of £72 million to the UK political party Reform UK, aiming to support the party’s preparations for the 2029 general election.

Donors and Their Commitments

Ben Delo, co‑founder of the crypto exchange BitMEX, and Christopher Harborne, an investor with a significant stake in stablecoin provider Tether, each pledged £36 million. Delo indicated that the funds will be delivered as a lump‑sum payment, consolidating earlier monthly contributions.

Legal Context

The pledges come as the UK Parliament debates the Representation of the People Bill, which seeks to ban direct crypto‑based political donations. The legislation currently exempts donations derived from fiat proceeds of crypto assets, allowing the pledged contributions to remain legal.

Donors’ Statements

Delo emphasized the need for Reform UK to focus on policy development rather than fundraising, while Harborne described his contribution as driven by a “competitive spirit” and expressed no expectation of personal reward.

Potential Impact

The £72 million injection could enable Reform UK to develop detailed policy proposals and legislative drafts ahead of the 2029 election, positioning the party for a more robust campaign.