Reform UK Secures £7 Million from Overseas Crypto Billionaires, Outpacing Rivals
Reform UK declared £7 million in donations from two British crypto billionaires residing outside the UK, according to the latest Electoral Commission filings. Hong Kong-based businessman Ben Delo contributed £4 million, while Christopher Harborne, who lives in Thailand, donated £3 million. These contributions were made in the weeks preceding the government's announcement of a £100,000 cap on donations from British citizens living overseas, effective from 25 March.
The donations account for a significant portion of the £9.3 million in private donations reported by Reform UK for the first three months of the year, representing approximately one-third of the £20.7 million total declared by all parties. For the same period, both the Labour Party and the Conservatives each declared around £4 million from private sources.
Delo, co-founder of the BitMEX cryptocurrency trading platform, made two payments of £2 million each in January and March. Harborne, a British cryptocurrency investor, transferred £3 million in January. Neither donation involved cryptocurrency.
The government's proposed cap on overseas donations has ignited a contentious dispute, with Reform UK alleging that the Labour Party is attempting to stifle legitimate funding for its political opponents. This policy shift is officially framed as an effort to mitigate the risk of impermissible foreign donations; however, critics and donors perceive it as a measure designed to hinder parties like Reform UK ahead of the next general election.
Nigel Farage, leader of Reform UK, is currently under investigation by the parliamentary standards commissioner regarding a separate £5 million cash gift from Harborne, which Farage claims was a private matter unrelated to his political activities. Both Delo and Harborne have indicated their willingness to challenge the new donation limits, with Delo considering an earlier return to the UK to circumvent the cap.
