Reform UK faces funding scrutiny following £72m in crypto donations

Crypto entrepreneurs transfer £72 million to Reform UK

Reform UK received £72 million in political funding over a single weekend from two cryptocurrency entrepreneurs. Ben Delo, co-founder of the BitMex cryptocurrency trading platform, announced a £36 million contribution on Friday to help the party prepare for government. Christopher Harborne, a technology investor and long-term resident of Thailand who holds Thai citizenship as Chakrit Sakunkrit, matched that amount on Saturday with another £36 million gift. The new sums bring Harborne's total recorded donations to Reform UK to £51 million, alongside a separate £5 million gift to party leader Nigel Farage that remains under investigation by the parliamentary commissioner for standards.

Scrutiny over overseas donors and funding legislation

The scale of the donations prompted calls from opposition figures and trade unions for tighter controls on political donations. Trades Union Congress general secretary Paul Nowak stated that the transfers showed democracy was in crisis. Parliament is reviewing the Representation of the People Bill, which includes proposals to cap donations from overseas residents at £100,000 per year for individuals who have not lived in the United Kingdom for at least one full year. The measure is designed to take effect retrospectively from March 2026. Reform UK deputy leader Richard Tice defended the contributions during national broadcast interviews, rejecting claims of external policy influence.

Our money comes with no demands.

Regulatory backgrounds and party cryptocurrency agenda

Both donors have distinct regulatory histories connected to the digital asset sector. Delo was convicted in the United States in 2022 for failing to implement anti-money laundering controls at BitMex, but received a presidential pardon from Donald Trump in 2025. Delo stated in April that he intended to return to the UK to prevent potential restrictions on overseas giving. Farage has promoted policies designed to make Britain a cryptocurrency hub, proposing reductions in taxes on digital assets and the establishment of a national bitcoin reserve. However, Farage acknowledged on Monday that the £72 million might face legal hurdles if the pending electoral legislation is applied retrospectively.

Parliamentary apology and campaign tool launches

The funding controversy coincided with parliamentary disciplinary action against Tice on Monday. The MP for Boston and Skegness apologised to the House of Commons for failing to declare a £6,250 trip to Israel, funded by Reform Friends of Israel in September 2025, during a Westminster Hall debate on 22 June 2026.

Whilst the trip is properly recorded in my register of interests I should have declared it during the speech. That is a breach of the rules and I apologise to this good House.

On the same day, Reform UK announced a mobile tracking application called SmallBoatWatch and a game titled Small Boat Scramble, offering a £5,000 top prize. Labour representatives described the releases as a diversion from ongoing inquiries into the party's finances, while Reform home affairs spokesperson Zia Yusuf defended the tools as direct public information.