UK government criticizes crypto billionaires’ record £72M donations to Reform UK

Two crypto-linked billionaires just wrote the largest political checks in British history, and the UK government is not exactly sending thank-you cards. Ben Delo, co-founder of crypto exchange BitMEX, and Christopher Harborne, a prominent investor in stablecoin issuer Tether, each donated £36 million to Reform UK on consecutive days in September 2026. The combined £72 million dwarfs all private donations made to UK political parties in the previous year. Labour fires back with retroactive legislation Angela Rayner, the Labour Party’s deputy leader, responded by pointing to the government’s proposed amendments to the Representation of the People Bill. The legislation, she said, is designed to stop wealthy individuals from buying political influence, and it may apply retroactively. That last word is doing a lot of heavy lifting. Retroactive application would mean the rules could potentially reach back to affect the Delo and Harborne contributions even though Reform UK says the donations complied with laws as they existed at the time. The political backdrop here matters. The UK government has been tightening its grip on political donations since the Rycroft Review flagged concerns abo...