Reform receives second £36m donation in two days as crypto investor matches record
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Reform receives second 36m donation as crypto investor matches record
Ninoda.com – Reform receives second 36m donation after cryptocurrency investor Christopher Harborne pledged £36m to the party, matching the record-sized contribution announced by Ben Delo a day earlier.
The two gifts, worth a combined £72m, are larger than the total received by all UK political parties in the previous year. They give Reform UK significant resources as it builds its national organisation and prepares for the next general election.
Party leader Nigel Farage welcomed the funding, saying it would help Reform compete more effectively with established rivals.
“Now be able to fight and win the next general election on a level playing field.”
Harborne says newer parties need greater backing
Harborne, a Thailand-based entrepreneur and crypto investor, said his decision followed Delo’s donation. He said he had already accumulated enough wealth for the rest of his life and did not expect to gain personally from giving money to Reform.
He argued that a newer political party does not have the networks, longstanding supporters and inherited funding base available to its more established competitors. Membership fees alone, he said, cannot sustain a party seeking to be ready for government.
“A start-up party needs more money than can be provided by membership fees alone, to build and sustain itself and be ready for government.”
Reform receives second 36m donation at a time when the party is seeking to turn electoral support into a permanent nationwide campaigning operation, with more capacity for staffing, organisation and election preparation.
Delo calls for Reform to prepare for office
Delo, who is also associated with the cryptocurrency sector, announced his £36m gift in an opinion article. He said he wanted Reform to have a fairer chance against better-funded parties and urged it to focus on preparing for government.
“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.”
Delo previously pleaded guilty in 2022 to a breach of anti-money-laundering laws linked to the crypto trading platform BitMEX. He received an unconditional pardon from US President Donald Trump last year.
Donation scrutiny continues
Harborne has previously been a major donor to Reform and to Farage. Farage is being investigated by the parliamentary standards commissioner over whether he should have declared a £5m cash gift from Harborne before the 2024 election.
Farage has said the money was a private gift rather than support connected to his parliamentary or political role, and therefore did not need to be registered.
Reform is also facing scrutiny after footage broadcast last week appeared to show two senior aides discussing a possible method of bypassing electoral law to secure overseas donations. The Metropolitan Police is investigating, while Reform denies wrongdoing.
Police are separately examining donations from Fiona Cottrell, the mother of Farage associate George Cottrell, and from a company controlled by Reform deputy leader Richard Tice. Those inquiries are distinct from the Harborne and Delo announcements.
FAQ: UK political donation rules
Is there a maximum political donation in the UK?
There is no general cap on the amount an eligible UK-based donor can give to a political party. Donations must, however, comply with electoral law and reporting requirements.
Why does Reform receives second 36m donation matter?
The two £36m gifts give Reform an unusually large financial advantage for campaigning and party-building. Their scale is also likely to increase public and regulatory interest in how major political donations are checked and disclosed.
Are the latest donations part of the police investigations?
No. The announcements by Harborne and Delo are separate from the ongoing investigations involving other alleged donations and fundraising matters.
