Reform UK accepts crypto donor funds
Archived — this story has rotated out of today’s deck. It is kept here in full.
The gist
Reform UK received £4m from crypto billionaire Ben Delo, convicted in 2022. Donations raise questions about foreign influence and party funding rules.
Background
Reform UK, led by Nigel Farage, has been increasingly reliant on donations from wealthy crypto entrepreneurs. New donor rules introduced in March 2026 cap overseas donations at £100,000 per year, but the party argues Delo, a British citizen, is not affected. The party has faced scrutiny over its funding sources, including a separate investigation into Farage's undeclared £5m gift from another crypto donor.
How it unfolded
- Mar 2026New donor rules take effect, requiring donors to be on the UK electoral register for 12 months to avoid a £100,000 annual cap.
- Apr 2026Ben Delo donates £1m and £3m to Reform UK in two separate payments.
- Sep 3, 2026Electoral Commission data reveals Delo's donations, making him the party's second-largest donor and accounting for 74% of its second-quarter donations.
- Sep 3, 2026Labour says it intends to report Reform UK to police over alleged breaches of donation rules, including a separate incident involving undercover reporters.
Who’s saying what
- Reform UK
- Reform UK says it is 'delighted' to be supported by successful British entrepreneurs and insists Delo's donations are lawful.
- Labour
- Labour plans to report Reform UK to police, alleging breaches of party funding laws.
- Critics
- Critics argue that reliance on mega-donors like Delo raises concerns about undue influence and the need for tighter donation caps.
Still unverified
Allegations that Reform UK accepted funds from a US company run by undercover reporters are unconfirmed and denied by the party.