Reform UK Secures £4 Million Crypto Donation from Trump-Pardoned Entrepreneur
Major Crypto Donation Shapes Reform UK's Finances
By Andrew MacAskill
Background on the Donation
LONDON, Sept 3 (Reuters) - Britain's populist Reform UK party received a £4 million donation from a crypto investor convicted of a banking secrecy violation in the United States and pardoned by Donald Trump, accounting for 75% of the party's donations last quarter.
The party led by veteran Brexit campaigner Nigel Farage received the big donation from Ben Delo, who announced this year he was returning to the UK from Hong Kong and involving himself in politics "to save Britain before decline becomes irreversible".
Party Fundraising Overview
In total, the party raised £5.3 million in the April-June quarter, more than its mainstream opponents but less than the more than £9 million it had raised in each of the two previous quarters, according to figures published by election officials on Thursday.
Details on Ben Delo and Legal History
Delo pleaded guilty to a U.S. banking secrecy violation in 2022 after prosecutors accused his crypto company BitMEX of deliberately failing to maintain required safeguards against money laundering. He was pardoned by Trump last year.
Other Key Donors and Political Context
Reform disclosed no donations in the quarter from its biggest donor, Christopher Harborne, another crypto entrepreneur. Harborne is British-born and based in Thailand.
Government Response to Overseas Donations
The British government has announced plans this year to tighten rules on political donations by British citizens who live abroad, and limit their contributions to £100,000.
Reform UK's Political Standing
Reform has only eight members of parliament but led opinion polls in Britain for most of the past two years, until the resignation of Prime Minister Keir Starmer and his replacement by Andy Burnham in July revived the fortunes of the governing Labour Party.
Controversy Over Undeclared Donations
Reform's popularity has been dented since news emerged this year that Harborne had given Farage £5 million in 2024, which Farage did not declare.
Parliamentary Investigation and Farage's Response
Parliamentary officials are investigating whether that broke rules on declaration of political donations. Farage denies wrongdoing and says the funds were a personal gift that did not require declaration. He stepped down from parliament and won re-election last month but could be removed and have to stand again if found to have broken rules.
Reform did not immediately respond to a request for comment.
Comparison with Other Parties
The governing Labour Party received £3.6 million in donations, excluding public funds, in the quarter, while the official opposition Conservative Party raised £2.8 million.
(Reporting by Andrew MacAskillEditing by Elizabeth Piper and Peter Graff)
