Nigel Farage’s Reform UK party raised $9.4 million from two cryptocurrency billionaires in the first quarter of 2026, surpassing total donations to both the UK’s Conservative and Labour parties. Tether stakeholder Christopher Harborne contributed $3.8 million, while BitMEX co-founder Ben Delo donated $5 million. Their combined contributions accounted for 28% of all donations accepted by UK political parties that quarter, highlighting the growing financial influence of crypto figures in British politics amid ongoing debates over campaign finance reform.
Nigel Farage’s Reform UK party collected $9.4 million from cryptocurrency billionaires Christopher Harborne and Ben Delo in the first quarter of 2026. This sum exceeded the total donations received by each of the Conservative and Labour parties.
Harborne, a major stakeholder in stablecoin issuer Tether, donated $3.8 million on January 23. The investor, who made a record-breaking $11.4 million donation to the party in 2025, claimed he was “the reason” behind a new cap on overseas donors.
Delo, the co-founder of crypto exchange BitMEX, provided $5 million across two payments. Delo, who received a presidential pardon from Donald Trump last year, returned to the UK from Hong Kong this year.
The donations propelled Reform UK to a $11.8 million fundraising quarter. In total, UK-registered political parties reported accepting $30.4 million in Q1 2026.
The influx of capital follows a UK moratorium on crypto donations and a cap on overseas donations. This policy change came after the government-commissioned Rycroft review.
Campaign finance reform advocates have seized on the donations as evidence of systemic problems. “When a tiny number of wealthy donors can spend millions promoting the politicians and causes they favour, it’s no surprise people feel politics is rigged against them,” said Olly Buston of Clean Up Westminster.
Reform UK has emerged as a vocal advocate for cryptocurrency in British politics. The party has adopted pro-crypto policies including a crypto strategic reserve and cuts to capital gains taxes.
Farage faces an investigation over whether he properly declared a separate $6.3 million gift from Harborne. UK prime minister Keir Starmer accused Farage of “dodging questions” over the gift, which Farage later described as a “reward” for his Brexit campaigning.
