Who is Ben Delo and why is he in the news?

Ben Delo is a co-founder of BitMEX who donated £4 million ($5.3 million) to Reform UK, marking his first major step into political funding. He previously pleaded guilty to US Bank Secrecy Act violations but was later pardoned by Donald Trump in March 2025.

Why did Ben Delo donate £4 million to Reform UK?

Delo said he backed Reform UK because he believes it is the only party addressing key issues in Britain. In his Telegraph op-ed, he framed the donation as a response to what he described as a lack of honesty in UK public life.

What legal issues did Ben Delo face before this donation?

Delo pleaded guilty in 2022 to breaching the US Bank Secrecy Act by failing to implement proper anti-money laundering controls at BitMEX. He paid a $10 million fine and received 30 months of probation. He was later pardoned alongside co-founders Arthur Hayes and Samuel Reed.

Why is Ben Delo planning to move to the UK?

Delo plans to relocate from Hong Kong to the UK to bypass new political donation rules. The UK introduced a £100,000 annual cap on overseas political donations, which would otherwise limit his ability to fund Reform UK.

What are the UK’s new rules on political donations?

The UK government introduced a £100,000 yearly cap on donations from citizens living abroad, along with a temporary ban on cryptocurrency donations. These rules aim to reduce foreign influence in British politics following a government review into financial interference.

How significant is the £4 million donation to Reform UK?

The £4 million donation is a major contribution and adds to Reform UK’s growing funding base. It follows £12 million already donated by investor Christopher Harborne, showing the party is attracting high-value backers ahead of future elections.

How might this affect Reform UK’s political position?

The funding boost could strengthen Reform UK’s campaign capabilities and visibility, potentially positioning it as a more serious challenger in UK politics. However, reliance on large donors may also attract scrutiny under the new funding rules.

Why does this matter for crypto investors?

This highlights increasing overlap between crypto figures and political influence, especially as regulation tightens globally. Investors should note that regulatory risk remains high, and political developments can directly impact crypto-related businesses and founders.

Ben Delo gives $5.3M to Reform UK

Written by Isaac FrancisPublished Apr. 9 2026Last Updated Apr. 9 2026

Ben Delo, co-founder of BitMEX, has donated £4 million ($5.3 million) to Nigel Farage’s Reform UK, marking his entry into political funding.

The donation follows Delo’s 2025 pardon by Donald Trump after he pleaded guilty to US Bank Secrecy Act violations tied to BitMEX’s anti-money laundering failures.

“Since the start of this year, I have donated £4m to help Nigel Farage to build Reform UK into a genuine alternative party of government,”

Delo said in a Telegraph op-ed.

Delo co-founded BitMEX in 2014 and in 2022 paid a $10 million fine and accepted probation after admitting compliance failures related to financial crime controls.

The UK recently introduced a £100,000 annual cap on political donations from overseas citizens and imposed a temporary ban on cryptocurrency donations to limit foreign influence.

Delo, currently based in Hong Kong, said he plans to relocate to Britain to avoid the cap and continue supporting Reform UK’s campaign efforts.

Reform UK has also received £12 million from investor Christopher Harborne over the past year, though the new rules may restrict similar large donations going forward.