Nigel Farage’s Reform UK has received another £7 million (~$9.4 Million) in donations from cryptocurrency billionaires, further cementing its position as one of Britain’s best-funded political parties and intensifying debate over the role of digital asset wealth in UK politics.
According to newly released Electoral Commission figures, Thailand-based crypto investor Christopher Harborne donated £3 million (~4 Million) to Reform UK in January, while BitMEX Co-Founder Ben Delo contributed £2 million (~2.6 Million) in January and another £2 million in March.
The latest donations come as cryptocurrency becomes an increasingly significant force in British political fundraising, drawing scrutiny from lawmakers and election watchdogs.
Crypto donors continue backing Reform UK
Harborne remains one of Reform UK’s largest financial backers. His latest £3 million (~4 Million) contribution follows a series of major donations that have reportedly totaled around £15 million (~20 Million) since 2025.
Delo has also emerged as a key supporter after previously announcing plans to return to the UK to support Reform following restrictions on overseas political donations.
The influx of crypto-linked funding helped Reform UK collect approximately £9 million (~12 Million) in donations during the first quarter of 2026, surpassing Labour’s £4 million (~5.3 Million)and the Liberal Democrats’ £2 million.
Concerns over political influence
The latest donations arrive amid growing regulatory concerns surrounding cryptocurrency’s role in political financing.
In March, a UK democracy review flagged crypto donations as a potential threat to the political system, warning that digital assets could make it harder to trace the source of political contributions and increase risks related to foreign influence. The review recommended a temporary ban on crypto donations and tighter limits on overseas donors while policymakers evaluate appropriate safeguards.
Earlier the same month, Harborne’s previous £3 million donation helped propel Reform UK to the top of Britain’s political donor rankings, highlighting the growing impact of crypto wealth on electoral fundraising.
Reform’s pro-crypto agenda
The donations coincide with Reform UK’s increasingly crypto-friendly policy positions.
The party became the first political party in Britain to formally accept cryptocurrency donations. Farage has also publicly praised stablecoin issuer Tether, in which Harborne reportedly holds a significant stake, and has advocated for creating a national Bitcoin reserve.
These policies have helped Reform position itself as one of the most crypto-supportive political movements in the UK.
Political opposition demands greater transparency
The growing influence of crypto-linked funding has sparked criticism from opposition parties.
During Prime Minister’s Questions this week, Liberal Democrat MP Roz Savage called for limits on political donations. Responding to the proposal, Prime Minister Keir Starmer said:
“We will do whatever is necessary to protect our democracy from foreign influence and dirty money.”
Starmer also renewed scrutiny of Nigel Farage’s past financial backing, referencing a previously undisclosed £5 million gift linked to Harborne.
“The £5 million question still remains. Why is the leader of Reform dodging questions about his donations, and why did he keep it secret in the first place?” Starmer said.
As digital asset billionaires become increasingly active in political fundraising, regulators and lawmakers are facing mounting pressure to strengthen transparency rules and assess whether existing election finance laws are equipped to handle crypto-based donations.
For Reform UK, however, support from major crypto investors continues to provide a significant financial advantage as the party expands its political ambitions ahead of future elections.
Also read: Trump Raises $236M in Early 2025, Mostly from Crypto Donors
