Ben Delo, the co-founder of cryptocurrency derivatives exchange BitMEX, accounted for roughly three-quarters of the donations received by Reform UK during the second quarter of 2026, according to newly surfaced financial disclosures that are drawing scrutiny over crypto's growing footprint in British politics.
A Crypto Billionaire Bankrolls a Political Movement
Delo, one of the earliest figures to build significant wealth in the crypto derivatives space, has emerged as a dominant financial backer of the party led by Nigel Farage. The disclosures indicate that his contributions made up around 75% of Reform UK's donation total for the quarter, positioning a single crypto industry figure as an outsized influence on the party's funding base.
The scale of Delo's support underscores how digital asset wealth is increasingly flowing into political campaigns, mirroring a trend already visible in the United States, where crypto executives and industry groups have poured money into elections and lobbying efforts.
When one crypto figure supplies three-quarters of a party's funding, questions about influence write themselves.
Questions Over Policy Influence
The concentration of donations has raised concerns among observers about whether crypto-aligned donors could shape Reform UK's stance on digital asset regulation and broader financial policy. Farage has previously voiced support for cryptocurrency and positioned himself as sympathetic to the sector, a posture that aligns with the interests of his industry backers.
Delo's background adds a further layer of complexity. BitMEX, the exchange he co-founded, previously faced legal trouble in the United States tied to compliance failures, making his prominence as a political financier a point of interest for critics.
Key points from the disclosures include:
- Delo's contributions represented about 75% of Reform UK's Q2 2026 donations
- The party and Farage have openly courted support from crypto-linked figures
- Critics warn the funding could translate into favorable policy positions
As crypto wealth continues to intersect with political power, the disclosures highlight a broader debate over transparency and the potential for industry money to steer regulatory outcomes in the UK.