Reform UK’s fundraising total climbed sixfold compared to the same period last year, when the party pulled in just $2 million in crypto and other donations. In the first quarter of 2026, it raised $12.5 million — more than any other British political party. A Party Funded By Crypto Money Two donors drove most of that haul. Christopher Harborne, who holds a stake in stablecoin issuer Tether, gave $4 million. Ben Delo, co-founder of crypto exchange BitMEX, gave $5.4 million — his first-ever donation to Reform UK . Together, their contributions account for $9.4 million of the party’s Q1 total, based on data released Thursday by the UK Electoral Commission. Labour and the Conservatives each raised around $5.4 million in the same quarter. Reform’s fundraising not only outpaced them both but exceeded the combined total from either of the two traditional parties. Farage’s Pitch To The Crypto World Nigel Farage has made his position on crypto clear. Reform UK was the first British political party to accept Bitcoin donations. Farage is a British politician who has been the leader of the Reform UK since 2024. Farage has also called for capital gains tax on crypto to be slashed from 24% to 10% and wants the Bank of England to build a Bitcoin reserve — proposals that have drawn attention from the industry on both sides of the Atlantic. It’s not just Nigel Farage taking millions from the super-rich. His Reform Party is doing it too. Reform pocketed £7 million from two crypto billionaires in the first three months of 2026 We need to kick ALL big-money out of politics. Our democracy should not be for sale! — Richard Burgon MP (@RichardBurgon) June 4, 2026 In the US, crypto-backed political action committees have been spending heavily on midterm election primaries, backing candidates who went on to win. The pattern mirrors what is now unfolding in Britain, where industry money is flowing toward politicians seen as sympathetic to the sector. A Donor Under Scrutiny Harborne’s relationship with Farage goes beyond party donations . He separately gave Farage a personal gift of $6.7 million, which is now the subject of a parliamentary standards inquiry into whether it should have been properly declared. Farage has maintained he had no obligation to register the money, saying it was received before he became a member of parliament and was intended to cover personal security costs. He later said the gift was tied to his role in the Brexit campaign. The Bigger Picture The Electoral Commission data shows total political donations across all parties more than doubled compared with Q1 of last year. Reform’s rise accounts for a significant share of that increase. Harborne’s contributions to the party now total $20 million over the past 12 months, making him one of the largest individual political donors in British politics today. Featured image by Stefan Rousseau/PA Wire, chart from TradingView
