Two British cryptocurrency billionaires have made unprecedented back-to-back donations totalling £72m ($97m) to Reform UK, the anti-immigration party led by Nigel Farage, marking the largest single-day political donations in British history. Ben Delo, 42, co-founder of the BitMEX cryptocurrency exchange, donated £36m on Friday, followed within 24 hours by a matching contribution from Christopher Harborne, 63, a Thailand-based crypto investor. Writing in the Daily Telegraph, Harborne described his gift as a "philanthropic" act, saying he felt "inspired" to match Delo's contribution and comparing Reform to a startup in need of a financial boost to compete with longer-established parties.

The combined sum exceeds the total spent by all major UK parties combined during the 2024 general election, and dwarfs what Reform itself spent in that campaign — less than a tenth of the roughly £65m deployed collectively by Labour, the Conservatives, the Liberal Democrats, the Greens and Reform. Farage celebrated the donations on social media, claiming both men wanted "nothing" in return beyond "a government that will fix Britain." However, critics were quick to note that both donors stand to benefit financially from Reform's stated policy of liberalising cryptocurrency regulation in the UK — a charge the party dismisses, saying that position predates its relationship with the donors.

The donations arrive at a turbulent moment for Reform. London's Metropolitan Police have launched a criminal investigation into whether the party accepted illegal foreign donations. Under British law, overseas-registered voters may donate no more than £100,000 to a political party. Harborne, who is based in Thailand, re-registered as a UK voter months ago using a farm in Hampshire as his address, reportedly clearing the legal path for the current donation. Delo, who recently returned to the UK from Hong Kong, is also considered compliant. A separate parliamentary standards inquiry is examining a £5m personal gift Harborne made to Farage himself — money Farage failed to declare when he entered parliament, disclosed only after the Guardian reported it. Two senior Farage aides have since been suspended following undercover footage broadcast by Channel 4 News that appeared to show Reform officials discussing ways to circumvent foreign donation rules.

Political opponents have seized on the donations to challenge Reform's populist image. Conservative leader Kemi Badenoch said that "you can buy staff and advertising, but you can't buy judgement or integrity," while the Liberal Democrats called for a cap on political donations to protect democratic integrity. Labour figures have echoed those calls, with MP Stella Creasy warning that such sums risk "distorting the next election." Prime Minister Andy Burnham — who replaced Keir Starmer as Labour leader and prime minister — has signalled interest in tightening donation rules, though he has stopped short of committing to a specific cap.

For Reform, the financial windfall creates both opportunity and risk. The funds could theoretically pay for a new staff member in every UK constituency until the next election, significantly expanding the party's organisational reach. Yet analysts note that under Britain's first-past-the-post electoral system, winning requires broad appeal beyond a core base — and polling suggests growing numbers of voters view Reform and its leader as untrustworthy. Whether a £72m advertising budget can overcome those perceptions, or deepen them, may prove the defining question of the party's next phase.