Reform UK has received £72 million as two cryptocurrency billionaires have backed Nigel Farage’s party with major donations just days apart, reports BritPanorama.
Thai-based businessman Christopher Harborne, the party’s biggest donor to date, matched a record £36 million donation just two days after fellow crypto tycoon Ben Delo. This influx of funds marks a significant boost for Reform UK as it prepares for upcoming elections.
Mr Harborne confirmed his gift and acknowledged the anticipated media speculation regarding his latest donation, which follows substantial earlier contributions of £15 million to the party and £5 million to Mr Farage personally. He emphasized, “there will be a lot of media speculation regarding this donation. So what do I expect in return for my donations? Nothing. No peerage, no policy change, just a party that is ready for government.”
Responding to the donation, Mr Farage expressed his gratitude, stating he was honoured that Mr Harborne and Mr Delo had “shown such confidence in Reform.” Historical records indicate Mr Harborne has made considerable donations to right-wing political entities, including the Conservative Party and the Brexit Party.
Mr Delo, who has already contributed £8 million to Reform UK, previously announced his intention to relocate back to Britain to assist in building a financial foundation for the party in preparation for the next election.
Who is Ben Delo?
Mr Delo is the co-founder of BitMEX, a cryptocurrency exchange and trading platform set to shut down on 23 September. Born in Sheffield and educated at Lord Williams’s School, he graduated from the University of Oxford in 2005 with a degree in mathematics and computer science.
In addition to his work in cryptocurrency, he signed the Giving Pledge in 2019, promising to donate the majority of his wealth. Post his tenure at BitMEX, he has dedicated efforts to philanthropic causes relating to academic freedom, mathematics education, and neurodiversity.
How has he made his money?
Mr Delo relocated to Hong Kong in 2012 to work for JP Morgan, where he began to explore Bitcoin. Between 2014 and 2019, he developed BitMEX into a major derivatives platform, handling over one trillion dollars in trading volume annually at its peak. Reports indicated in 2018 that he was the UK’s youngest self-made billionaire.
Why was he pardoned by Donald Trump?
Mr Delo faced conviction in the US four years ago over deficiencies in his business’s anti-money laundering programme. Sentenced to 30 months of probation after his guilty plea, he was pardoned by Donald Trump the following year. He articulated his perspective on the matter, asserting the charges were inappropriate and expressing gratitude for the pardon, which he saw as a validation of his position.
Who is Christopher Harborne?
Mr Harborne, in his early sixties, is a British businessman with significant investment in cryptocurrency. He was educated at Westminster School and pursued further studies at Downing College, Cambridge.
Currently based in Thailand and holding Thai citizenship, he has built a career involving aviation and technology investments, serving as CEO of Sherriff Global Group and being associated with defencetech firm Qinetiq.
What is his involvement in politics?
Mr Harborne has previously donated substantially to right-wing parties, including £6 million to the Brexit Party in 2019. Notably, he made a £1 million donation to Boris Johnson’s private office, one of the largest donations to a British politician. He also played a role as an adviser during Johnson’s trip to Kyiv in September 2023.
Reform UK denied any correlation between Mr Farage’s endorsement of Tether, the cryptocurrency Mr Harborne is invested in, and the donation received, asserting that Harborne’s backing stems from support for the party rather than financial interests.
Why is there an investigation into Mr Harborne’s £5m gift?
A parliamentary inquiry is ongoing concerning a £5 million gift received by Mr Farage from Mr Harborne. This investigation, paused during a previous by-election triggered by Mr Farage’s resignation, resumed after he won back his MP position in a contest boycotted by other major parties.
According to Commons rules, new MPs must declare any gifts exceeding £300 received in the preceding year, unless such gifts are unrelated to their political roles. Mr Farage claims the gift was not politically motivated and has expressed his belief that the investigation is biased against him.
