BitMEX co-founder Ben Delo has revealed a $5.4 million donation to Nigel Farage's Reform UK party. Delo, based in Hong Kong, stated his motivation was a perceived failing UK political system. He made the contribution earlier this year, before new caps on overseas donations were introduced.
Delo co-founded BitMEX, an early cryptocurrency derivatives exchange. He previously pleaded guilty in the U.S. in 2022 for breaching the Bank Secrecy Act due to inadequate anti-money-laundering controls. He later received a presidential pardon.
Reform UK positions itself as the most crypto-aligned party in Britain, accepting cryptocurrency donations and promoting pro-crypto policies. This stance has drawn scrutiny amidst broader debates on crypto and political finance. The UK government has moved to tighten rules on overseas donations and imposed a moratorium on cryptocurrency contributions, citing risks around transparency and foreign influence.
Reform leader Nigel Farage has advocated for crypto-friendly policies. Delo intends to relocate to the UK to continue donating without restriction.