Key facts
- Crypto entrepreneur Ben Delo has returned to the UK, having previously resided in Hong Kong.
- Reform UK received £10,293,511 in political donations in the last quarter.
- This figure makes Reform UK the largest recipient of political donations among UK parties in that period.
- Christopher Harbourne, a businessman invested in cryptocurrency firm Tether, made a £9 million donation.
- Nick Candy, Reform UK's treasurer, has donated £490,000 and is leading fundraising efforts.
Crypto entrepreneur Ben Delo has returned to the UK, potentially facilitating his role as a donor to Nigel Farage's Reform UK party amidst a crackdown on offshore political finance. Delo, a co-founder of cryptocurrency trading platform BitMEX, is now a UK resident after living in Hong Kong for over a decade.
Reform UK has experienced a significant surge in political donations, receiving £10,293,511 in the last quarter, according to Electoral Commission data. This amount surpasses donations received by both the Labour and Conservative parties during the same period, with Reform UK's total being almost four times that of Labour and more than double that of the Conservatives. The party aims to build a £40 million war chest for the next general election.
Key donors include the party's treasurer and billionaire property developer Nick Candy, who contributed £490,000 and is responsible for leveraging his contacts for fundraising. Candy has indicated that several billionaires are prepared to support Reform UK. The party also received a controversial £9 million donation from Christopher Harbourne, a businessman with investments in Tether, a cryptocurrency firm facing allegations of money laundering and sanctions evasion. There is no suggestion of wrongdoing by Harbourne himself.
Further contributions came from fintech and telecoms magnate Bassim Haidar, a former Conservative donor who has pledged £1 million and donated £225,000 between January and April. Haidar has expressed concerns about the UK's tax regime for wealthy investors. Viscountess Rothermere, wife of the owner of the Daily Mail Group, also donated £50,000 to the party.