BitMEX Co-Founder Ben Delo to Donate £36 Million to UK’s Reform UK

British crypto billionaire Ben Delo will donate £36 million to the U.K. political party Reform UK, the BBC reported, in what would be the largest political donation ever received by a British party from a single donor.

BBC reported on September 11 that Delo plans to give Reform UK £1 million a month through 2029. He decided to pay the full amount upfront in anticipation of possible future restrictions on large donations.

Delo is known as a co-founder of crypto derivatives exchange BitMEX. He has already donated £4 million to Reform UK and has said he plans to move his residence from Hong Kong to the U.K. to continue providing additional support.

Delo said the donation was intended to help Reform UK compete on equal terms with other parties. Reform UK leader Nigel Farage thanked him for the donation.

The U.K. currently places no cap on how much domestically resident donors can give to political parties. However, the British government is pursuing measures to restrict political donations from British citizens living overseas, and political debate over the proposed rules is continuing.

Reform UK's fundraising practices have also come under scrutiny from authorities. British police are reviewing some donations over allegations that rules on foreign funding may have been violated. The party has denied the allegations and said it would cooperate with the investigation.

Delo last year received an unconditional pardon from U.S. President Donald Trump in connection with violations of the U.S. Bank Secrecy Act.