Ben Delo, a British crypto billionaire, gave 36 million pounds ($49 million) to Nigel Farages Reform UK in the biggest donation ever made to a British political party, the DPA and other media reported on Saturday.
Delo, who co-founded the BitMEX cryptocurrency exchange, said he had given the money to ensure a “fair fight” at the polls.
Farage said: “I am honored and humbled that Ben Delo has shown such confidence in Reform. … Ben knows that we are the only party that can turn the country around and reverse Britains decline.”
Delo was previously the second-biggest donor to Reform UK behind billionaire Christopher Harborne, who gave 9 million pounds to the party last August.
Cointelegraph reported last month that Farage was under investigation after receiving millions of dollars worth of donations and gifts from two figures tied to the crypto industry: Harborne and George Cottrell.
Related: UK politicians mull permanent crypto donation ban in wake of Nigel Farage scandal
The UK lawmaker resigned his position as a member of Parliament in July amid the crypto scandal, triggering a controversial by-election that Farage won with 63% of the vote, ahead of satirical candidate Count Binface.
The contributions tied to the crypto industry have raised questions from many lawmakers about the influence of digital assets on UK politics.
In July, Labour MPs were reportedly considering that a moratorium on crypto donations announced in March, pending legislation, be made permanent in response to what Farage called “gifts” from Harborne and Cottrell.
The Telegraph newspaper said the 36 million pound donation represented 1 million pounds each month until a general election in 2029, but Delo made the entire payment up front to prevent it from being blocked.
Cointelegraph previously reported that Delo was one of three BitMEX co-founders who pleaded guilty to federal charges in the US related to violations of the Bank Secrecy Act.
While he agreed to pay a $10 million fine in 2022, Delo did not serve time in prison. He and his colleagues Arthur Hayes and Samuel Reed received a pardon from US President Donald Trump in March 2025.