Ben Delo donates a record sum of £36 million to the Reform UK party, led by Nigel Farage

British cryptocurrency investor Ben Delo announced on Friday that he will donate £36 million, equivalent to approximately $48.7 million, to the populist Reform UK party, led by Nigel Farage. The money will be provided in installments of £1 million per month until the next national elections in the United Kingdom, scheduled for 2029.

The donation is intended to help the party prepare for government and develop policies and draft legislation. Delo said he wants to ensure a “fair fight” between Reform UK and Britain’s main parties, the Labour Party and the Conservative Party.

A co-founder of the cryptocurrency platform BitMEX, Delo was convicted in the United States of violating the Bank Secrecy Act and was later pardoned by President Donald Trump. He had previously donated £8 million to the party.

The new contribution surpasses the previous record for a political donation in the United Kingdom: £10 million, given to the Conservatives by businessman John Sainsbury. Farage said he was “honoured and overwhelmed” by the support received.

The donation comes after Reform UK lost ground in opinion polls and faced allegations concerning political funding. Two of Farage’s advisers were suspended following an undercover investigation into the alleged involvement of a foreign donor in funding opinion polls.