- BitMEX co-founder Ben Delo donated £4 million ($5.3M) to Reform UK in 2026.
- Trump pardoned Delo in March 2025 after his guilty plea to BSA violations.
- Delo plans to relocate to the UK to bypass Labour’s new overseas donor cap.
Ben Delo, a co-founder of the cryptocurrency exchange BitMEX and a recipient of a presidential pardon, has contributed £4 million (approximately $5.3 million) to Nigel Farage’s Reform UK political party. This significant donation marks Delo’s initial engagement in political activism, as stated in an opinion piece he published in The Telegraph on April 8.
Background of the Donor and the Donation
Delo was a key figure in the establishment of BitMEX in 2014, a platform that became prominent in the cryptocurrency derivatives market. In 2022, Delo admitted to violating the U.S. Bank Secrecy Act (BSA) by failing to implement adequate anti-money laundering controls at BitMEX. As a consequence, he paid a civil penalty of $10 million and was placed on probation for 30 months. In March 2025, President Donald Trump issued full pardons to Delo and two other co-founders, Arthur Hayes and Samuel Reed.
BREAKING: President Donald Trump just granted pardons to three co-founders of the BitMEX cryptocurrency exchange.
The co-founders, Arthur Hayes, Benjamin Delo and Samuel Reed, previously pled guilty to a range of federal criminal charges related to money laundering
— unusual_whales (@unusual_whales) March 28, 2025
In his published statement, Delo articulated his decision to support Reform UK as a response to what he perceives as a deficit of integrity in contemporary British public discourse. He expressed that Reform UK is the sole political entity he believes is prepared to address the nation’s challenges head-on.
“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,” The Telegraph reported, citing Delo.
Strategic Financial Maneuvers and Regulatory Landscape
The political landscape in the UK has recently seen regulatory adjustments impacting campaign finance. On March 25, the government implemented a cap of £100,000 annually on political donations from British citizens residing overseas. Concurrently, a temporary ban on cryptocurrency-related donations also came into effect.
These measures were informed by an independent review concerning foreign influence on British political processes, spearheaded by former Permanent Secretary Philip Rycroft. Delo, who is currently based in Hong Kong, has indicated his intention to relocate to the United Kingdom. This move is strategically positioned to circumvent the new overseas donor cap and enable his continued financial support for Reform UK’s electoral campaign activities.
Reform UK has previously benefited from substantial funding, including £12 million from Christopher Harborne, a British investor based in Thailand, within the last year. The newly introduced cap is expected to significantly constrain the scale of future contributions from individuals like Harborne.
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