Why did Reform UK raise more money than Labour and the Conservatives in Q1 2026?

Reform UK raised about $12.5 million during the first quarter of 2026, surpassing Labour's $5.5 million and the Conservatives' $8.1 million. The party's fundraising was largely driven by major donations from crypto billionaires Christopher Harborne and Ben Delo.

How much did crypto billionaires donate to Reform UK?

Christopher Harborne and Ben Delo contributed a combined $9.4 million to Reform UK during Q1 2026. Their donations represented roughly 28% of all political donations reported by UK political parties during the quarter.

Who are Christopher Harborne and Ben Delo?

Christopher Harborne is a major investor in Tether and reportedly owns a 12% stake in the company. Ben Delo is a co-founder of BitMEX and is one of the most prominent figures in the crypto industry.

Why is Reform UK attracting support from crypto investors?

Reform UK has taken one of the most crypto-friendly positions among major UK political parties. The party has backed policies including lower taxes on crypto gains, support for digital asset innovation and the creation of a national crypto reserve.

What does this mean for the crypto industry in the UK?

The donations highlight growing political engagement from crypto investors and entrepreneurs. If Reform UK gains more influence, the industry could see stronger advocacy for policies designed to encourage crypto investment and innovation.

What is the controversy surrounding Christopher Harborne and Nigel Farage?

Reports have focused on a separate $6.7 million personal gift Harborne allegedly made to Nigel Farage before he became a member of Parliament. Critics argue the payment should have been disclosed, while Farage and Reform UK maintain there was no legal obligation to declare it.

Is the Harborne donation investigation a risk for Reform UK?

Potentially. The matter has been referred to Parliamentary Standards Commissioner Daniel Greenberg, and any adverse findings could create political pressure on the party. However, no wrongdoing has been established.

Why is Ben Delo's background drawing attention?

Delo pleaded guilty in 2022 to violating the US Bank Secrecy Act over anti-money laundering failures at BitMEX. He later received a presidential pardon from Donald Trump, making his political donations a subject of public scrutiny.

Image for illustrative purposes only. Not a real photo.

Reform UK tops rivals with $9.4M crypto backing

Written by Liezl GambePublished Jun. 5 2026Last Updated Jun. 5 2026

Nigel Farage’s Reform UK raised $9.4 million from cryptocurrency billionaires Christopher Harborne and Ben Delo in the first quarter of 2026, helping the party outpace both Labour and the Conservatives in fundraising.

The two donors accounted for roughly 28% of the $32.2 million in political donations reported by all UK-registered parties during the quarter, according to newly released records.

As a result, Reform UK reported $12.5 million in donations during the period, compared with $8.1 million for the Conservative Party and $5.5 million for Labour.

Harborne, who owns a 12% stake in Tether and is estimated to be worth $24.4 billion, contributed $4 million in January after previously donating $12.1 million in 2025, which was reported as the largest political donation ever made by a living individual in Britain.

Delo, co-founder of BitMEX, donated a further $5.4 million through two separate payments after returning to the UK from Hong Kong earlier this year.

“I believe I’m the reason behind restrictions on overseas political donors,”

Harborne said when discussing rules introduced following the government-commissioned Rycroft review, which also imposed a moratorium on political donations made in cryptocurrency.

Political attention has also focused on Harborne’s relationship with Nigel Farage after reports that Farage received a $6.7 million personal gift before entering Parliament, though Farage has said legal advice concluded there was “no obligation” to declare the transfer because it was an “unconditional, non-political, personal gift,” while Reform UK maintains the payment fell outside parliamentary disclosure requirements.