Second cryptocurrency billionaire gives £36 million to Reform

Reform UK has been given a second £36 million donation in as many days.

Mr Harborne, whose £5 million personal gift to Nigel Farage to pay for his security is the subject of a parliamentary investigation, told The Telegraph that Reform “needs more money than can be provided by membership fees alone” to create the sort of infrastructure older parties have built over more than a century.

It comes the day after Mr Delo, who was convicted in the US of failing to establish an adequate anti-money laundering program, provided his own £36 million donation to ensure a "fair fight and a level playing field" against the entrenched advantages of the Labour and Conservative parties.

Before Friday, the largest single donation to a political party had been a £10 million bequest left to the Conservatives, while the biggest donation from a living person was £9 million given by Mr Harborne to Reform last year.

Earlier this year Labour imposed a cap of £100,000 on donations to political parties from expatriate donors.

Christopher Harborne and Nigel Farage

Getty

The government has also proposed further restrictions on donations in its Representation of the People Bill, with some MPs calling on Prime Minister Andy Burnham to impose caps on UK-based individual donors to match the cap on foreign donors.

The BitMEX co-founder Mr Delo has accused the Government of wanting to “rig” the next election and the donations from him and Mr Harborne have come before Labour has a chance to make major changes to donation rules.

In February 2022, Mr Delo pleaded guilty in a New York federal court to willfully failing to establish, implement, and maintain an adequate anti-money laundering (AML) program at BitMEX.

But he was granted an unconditional pardon last year by US President Donald Trump.

Writing for the Telegraph, he said: “Unlike the people who express mock concern for the health of ‘our democracy’ while doing everything they can to keep it as a cartel, I want a fair fight and a level playing field.

“My conclusion from Reform’s recent troubles is that they should spend less time trying to raise funds to compete on equal terms and more time preparing for government.”

The two donations mean that Reform has now raised more than £86m in donations so far this year, compared to £10.2 million raised by the Conservatives and £7.7 million by Labour.

Mr Farage told The Telegraph: “I am honoured and humbled that Ben Delo and Christopher Harborne have shown such confidence in Reform.

“Both men know that we are the only party that can turn the country around and win the next General Election - thanks to their generosity, we are now able to fight that election on a level playing field.”

Reform UK leader Nigel Farage (Stefan Rousseau/PA)

PA Wire

The extra £72 million that Reform now has to spend will enable it to recruit more policy staff and campaign managers in target constituencies.

Mr Farage has said he has done nothing wrong and the gift was not political.

Reform’s poll lead has been faltering since Andy Burnham became Prime Minister, while the Conservative have also seen increased support under Kemi Badenoch.

Detectives from the Metropolitan Police are investigating after the report showed senior Reform figures appearing to discuss how to disguise donations from foreign sources.

Reform UK denies any wrongdoing and has said it will co-operate fully with the probe.

Mr Farage’s long-time aide Dan Jukes, who also denies wrongdoing, and head of policy James Orr have been suspended pending an internal investigation into the allegations.

A Labour spokesperson said: “Nigel Farage is still up to his neck in scandal over his secret £5 million ‘gift’ from his other crypto-billionaire backer and the criminal investigation into potentially illegal donations.

“The questions he faces aren’t going away – in fact they’re piling up.

“Reform UK can’t buy their way out of questions about sleaze, criminal mates and dodgy finances.

“It’s time Farage and Reform finally came clean with the public, co-operated fully with the police, and proved they’re not just in it for themselves.”

Liberal Democrat Cabinet Office spokesperson Lisa Smart said: “Nigel Farage wants to bring Trump’s America to our shores by buying his way into power. He’s trying to get into Number 10 as if it’s a stop on a monopoly board.

“It can’t go on like this. Andy Burnham needs to introduce a cap on political donations. Our democracy depends on it.”