The British party Reform UK, led by Nigel Farage , will receive a donation of £36 million, or approximately €49 million, from British cryptocurrency billionaire Ben Delo. This is the largest individual donation ever made to a political party in the United Kingdom.
Ben Delo, co-founder of the cryptocurrency exchange platform BitMEX, explains that he wants to give Reform UK the resources to prepare to govern and compete with Labour and the Conservatives. The funding is expected to amount to the equivalent of one million pounds per month until the next general election, scheduled for 2029.
The amount far exceeds the previous British record of £10 million, set by a donor to the Conservative Party. Ben Delo had already donated £8 million to Reform UK before this latest contribution.
The announcement comes as Nigel Farage's party is going through a particularly difficult period financially. Two senior Reform UK officials have been suspended following an undercover investigation that revealed discussions about potentially circumventing rules governing foreign funding. British police are now investigating possible breaches of electoral law. Reform UK denies any wrongdoing.
Nigel Farage nevertheless welcomed Ben Delo's gesture, stating he was "honored and touched" by the trust placed in his party. The leader of Reform UK believes his movement is the only one capable of turning the country around.
Ben Delo did not directly address the investigation into Reform UK. However, in an opinion piece published in the British press, he suggested that the party's recent difficulties should prompt it to spend less time fundraising and more time preparing for a potential future in power.
The massive funding comes as Reform UK has seen its lead in the polls shrink following a series of controversies surrounding its finances and some of its donors. The party nevertheless remains in a position to secure considerable resources to prepare for the upcoming elections.
