Ben Delo, the billionaire co-founder of crypto derivatives exchange BitMEX, has become one of the biggest financial backers of Nigel Farage’s Reform UK after donating millions of pounds to th
Ben Delo, the billionaire co-founder of crypto derivatives exchange BitMEX, has become one of the biggest financial backers of Nigel Farage’s Reform UK after donating millions of pounds to the British political party.
Delo co-founded BitMEX with Arthur Hayes and Samuel Reed in 2014. In February 2022, he pleaded guilty to violating the Bank Secrecy Act in the United States by willfully failing to establish and maintain an adequate anti-money laundering program at the exchange.
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He agreed to pay a $10 million criminal fine and was later sentenced to 30 months of probation.
President Donald Trump granted Delo a full and unconditional pardon in March 2025 covering his conviction in United States v. Delo, according to the clemency warrant.
Following the pardon, Delo said the Justice Department had “wrongfully targeted BitMEX and its co-founders,” adding that the pardon was “a vindication of the position we have always held.”
His return to public life has since extended beyond crypto. Delo has become increasingly involved in British politics and is now responsible for the majority of Reform UK’s private donations during the latest reporting period.
Delo donated £4 million ($5.3 million) to Reform UK during the April-to-June quarter, according to donation figures released by Britain’s Electoral Commission on Sept. 3.
The contribution represented roughly 75% of the £5.33 million ($7.20 million) in private donations accepted by Reform during the quarter. That put the party ahead of Labour, which accepted £3.59 million ($4.85 million) excluding public funds, and the Conservative, which received £2.81 million ($3.79 million).
The latest donation follows previous donations from Delo. The records show Reform accepted £2 million ($2.70 million) from Delo on Jan. 14, and £2 million on March 2.
Delo’s political spending comes as Britain tightens rules governing donations from citizens living overseas. The changes introduce a £100,000 ($135,000) annual limit for some overseas donors, increasing scrutiny of the large contributions helping finance Reform.
Crypto money has already become a significant part of the party’s funding base. Another major Reform donor, crypto investor Christopher Harborne, gave the party £3 million ($4.05 million) in January alone, according to Electoral Commission records.
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