Crypto Billionaires Give Reform UK Record £72M

Crypto investor Christopher Harborne donated £36 million ($48.7 million) to Nigel Farage’s Reform UK on Saturday, matching a contribution from BitMEX co-founder Ben Delo and taking their combined donations to £72 million ($97.4 million) within 24 hours.

The two contributions are jointly the largest individual donations ever made to a UK political party, according to The Guardian. Harborne, an investor in stablecoin issuer Tether and crypto exchange Bitfinex, announced his donation one day after Delo disclosed the same amount.

Harborne said he expected no personal or political favors in return, adding that he wanted to support a party he believes is prepared to govern. Farage said the funding would strengthen Reform UK’s ability to compete in the next general election.

The latest contribution significantly expands Harborne’s financial backing of Reform. In December 2025, he disclosed a $12 million donation that was then described as the largest single contribution from a living donor to a British political party.

Harborne and Delo later contributed roughly £3 million and £4 million, respectively, during the first quarter of 2026. Together, those donations represented about 76% of Reform UK’s £9.26 million in reported contributions, excluding public funding.

Farage has increasingly positioned Reform UK as a crypto-friendly political force. At a Bitcoin conference in Las Vegas in May 2025, he proposed establishing a Bitcoin reserve at the Bank of England, cutting capital gains tax on cryptoassets to 10%, and preventing banks from closing accounts because of customers’ cryptocurrency activities.

It remains unclear whether the latest £72 million was donated using cryptocurrency. Harborne’s previous £9 million contribution was paid in cash, while the Electoral Commission said in March that UK political parties had not reported receiving donations classified as cryptoassets.

The record funding comes amid scrutiny of Reform UK’s finances. Metropolitan Police are investigating allegations involving political donations, while Farage faces a separate parliamentary standards investigation concerning a £5 million personal gift from Harborne before Farage became an MP in 2024. Reform and Farage deny wrongdoing.

Meanwhile, the UK government has proposed banning cryptocurrency political donations and limiting contributions from overseas electors to £100,000 annually.