Second crypto billionaire says donated record £36 million to Reform UK

Cap calls

Farage, a leading figure in the Brexit movement before founding Reform in 2021, welcomed the donations.

“Thanks to the generosity of Christopher Harborne and Ben Delo, Reform will now be able to fight and win the next general election on a level playing field,” he said on X.

It means the party has now raised at least £85 million (US$115 million) since the start of the year, compared with £10.2 million (US$13.8 million) raised by the Conservatives and £7.7 million (US$10.4 million) by Labour, according to the Telegraph.

The donations represent a boost after months dominated by scrutiny of its finances, and attracted immediate criticism from rival parties and calls for a cap on political donations.

Duncan Hames, of Transparency International UK, said they made “an irrefutable case” for such a measure.

“At this rate just two people could end up buying our democracy before the next election,” he added.

Government legislation currently working its way through parliament would make various changes to political donations, including imposing a £100,000 (US$135,345) limit on gifts from Britons living overseas.

But it has so far opted against introducing a broader cap, instead pledging a taskforce to tackle the issue of “mega-donors”.