BitMEX Co-Founder Ben Delo to Donate £36 Million to UK Party Reform UK

British crypto billionaire Ben Delo will donate £36 million to Reform UK, a UK political party, in what the BBC said is the largest political donation ever received by a British party from a single donor.

The BBC reported on September 11 that Delo plans to give Reform UK £1 million a month through 2029. He chose to pay the full amount upfront in case new restrictions on large political donations are introduced.

Delo is known as a co-founder of crypto derivatives exchange BitMEX. He has already donated £4 million to Reform UK and has said he plans to move his residence from Hong Kong to the UK to continue providing additional support.

Delo said he wanted to help Reform UK compete on equal terms with other parties. Nigel Farage, the party's leader, expressed thanks for the donation.

Current UK rules place no cap on how much a domestically resident donor can give to a political party. The UK government, however, is pursuing measures to restrict political donations from British citizens living overseas, and political debate over the proposed rules is continuing.

Reform UK's fundraising methods have also come under scrutiny from authorities. British police are examining some donations over allegations they may have violated rules on foreign funding inflows. The party has denied the allegations and said it would cooperate with the investigation.

Delo received an unconditional pardon last year from US President Donald Trump in connection with violations of the US Bank Secrecy Act.