Records from the UK's Electoral Commission show that contributions from BitMEX co-founder Ben Delo made up roughly three-quarters of the $7.3 million received by Reform UK in the second quarter of 2026.

According to the Electoral Commission, as of Thursday, Delo made two separate contributions to Reform UK in April: 1 million pounds and 3 million pounds — approximately $1.3 million and $4 million, respectively. Although the party also received significant donations from other entities and individuals between April and June 2026, Delo's donations accounted for 74% of all funds reported in the second quarter. Under UK rules, political parties must report permissible donations to the Electoral Commission on a quarterly basis, and the regulator publishes the totals each quarter — the mechanism through which Delo's contributions became public.

Source: UK Electoral Commission

Nigel Farage, leader of Reform UK, is currently under investigation over millions of dollars' worth of donations and gifts he received from two figures tied to the crypto industry: Christopher Harborne and George Cottrell. The UK lawmaker resigned his seat 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 crypto-linked contributions have prompted questions from many lawmakers about the influence of digital assets on UK politics. In July, Labour MPs were reportedly considering making permanent a moratorium on crypto donations imposed in March, in response to what Farage described as "gifts" from Harborne and Cottrell. How the party funding debate unfolds — including whether the moratorium is made permanent and the outcome of the investigation into Farage — is likely to shape the wider scrutiny of crypto-linked political donations in the UK.

In addition, Delo contributed $5.3 million to Reform UK in the first quarter of 2026, bringing his reported giving to the party across the first half of the year to roughly $10.6 million.

BitMEX co-founders pardoned by US president last year

Delo was one of three figures connected to cryptocurrency exchange BitMEX who pleaded guilty to federal charges in the United States related to violations of the Bank Secrecy Act. He agreed to pay a $10 million fine in 2022 and 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.