Reform UK, the Eurosceptic party led by Nigel Farage, has raised £20 million in donations from cryptocurrency investors since the general election, according to an analysis of Electoral Commission data revealed by The Independent. This figure represents more than half of the party’s total funding, with the bulk of contributions coming from individuals linked to the digital currency sector. Among the largest contributors is Christopher Harborne, a crypto billionaire whose £5 million donation to Farage has drawn a parliamentary investigation. Another major donor is Ben Peter Delo, founder of the cryptocurrency trading platform BitMex, who contributed two payments totaling £2 million to the party this year. Additional notable donors include Maria Rost, wife of U.S. crypto investor John Rost, who gave nine payments worth £125,000, and Simon William Smith, a London-based Bitcoin investor who donated £116,000 before the 2024 general election. Other figures include Oscar Townsley, founder of Bitcoin derivatives trading firm A1X, who gave £30,000 to the party last year. In contrast, the Conservative Party received £82,250 in donations from Alan Eldad Howard, a hedge fund manager and crypto investor. However, no similar donations were identified for Labour, the Liberal Democrats, or the Green Party. A Reform UK spokesperson stated that the party adheres strictly to Electoral Commission guidelines outlined in the Political Parties, Elections and Referendums Act 2000, emphasizing that all donations have been vetted accordingly. The revelation adds to mounting scrutiny surrounding Farage, who recently faced controversy after stepping down as Clacton MP following intense questioning about Harborne’s £5 million contribution. Bridget Phillipson, chair of the Labour Party, criticized Farage for allegedly evading transparency, stating that his acceptance of the donation and subsequent pledge to cut taxes for the crypto industry suggested a conflict of interest. She accused him of undermining public trust and noted ongoing investigations into Reform’s financial dealings and some of its donors. Labour has adopted a cautious approach toward cryptocurrency, with Prime Minister Sir Keir Starmer implementing a temporary ban on crypto donations and proposing limits on overseas contributions as part of a broader review of electoral integrity. Meanwhile, the Greens have advocated for a ban on “unethical” crypto advertisements in public spaces. Labour MP Stella Creasy has pushed for stricter measures, arguing that current caps on individual donations could inadvertently allow those with British addresses to circumvent restrictions. She expressed concerns about the potential for wealthier donors to exert disproportionate influence on political outcomes, warning of a risk to democratic processes. Meanwhile, Reform UK continues to face internal challenges. An online tracker launched by the campaign group Best For Britain indicates that 35 newly elected councillors have either resigned or been suspended since the local elections in May. The rate of departures averages one councillor every three days, raising doubts about the party’s stability. Among those leaving are Alex Clarke, who resigned from South Tyneside Council after feeling misled about the responsibilities of the role, and Carol Ney, who left Plymouth Council in August, citing dissatisfaction with the party’s direction. Others, like Rhys Carr of Wakefield, cited a lack of focus on local issues as a reason for their departure. Several councillors have been suspended due to misconduct, including Billy Burke of Trafford Council, who was charged with possessing an offensive weapon, and Glenn Gibbins of Sunderland City Council, who posted a grossly offensive comment about Nigerians online. Robin Perry of Walsall Council was suspended for making unsubstantiated allegations against a fellow Reform councillor, while Dave Rowan of Kirklees was suspended after historical social media posts surfaced suggesting he supported hanging ex-Commons Speaker John Bercow. Birmingham’s Rebecca Waters was expelled for voting for a Liberal Democrat candidate during a party leadership contest. Best For Britain’s tracker highlights the difficulties Reform UK faces in maintaining cohesion among its members, noting that the party often recruits former Conservative politicians to fill vacancies. The group argues that despite Reform’s ambitions for power, it struggles to retain the personnel necessary to govern effectively. As the scrutiny intensifies both nationally and locally, the party’s future appears increasingly uncertain.
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