Reform UK ‘awash with crypto cash’ after raking in £20 million from crypto investors since 2024
Over half of donations to Reform since 2024 have been from crypto investors
Reform has been criticised for being “awash” with crypto cash, after it received £20 million from wealthy individuals who invest in cryptocurrency since 2024.
An analysis of Electoral Commission figures by The Independent over the weekend found that 60% of Reform’s donations since the beginning of 2024 have come from crypto interests.
Whilst receiving large sums from crypto investors, Reform has become the first political party to accept cryptocurrency donations, Farage has promoted Tether, the crypto firm Harborne has a 12% stake in.
He has also committed to creating a state-owned bitcoin reserve and called for the deregulation of crypto.
The largest chunk of these donations, totalling £15 million, came from crypto billionaire Christopher Harborne.
Other donors included Ben Delo, who gave two payments of £2 million to Reform UK this year, and Maria Rost, who is married to US crypto investor John Rost.
Maria Rost has given nine payments of £125,000 (£1.125 million) to Farage’s party since 2024.
The Independent also found that Simon William Smith, a London-based bitcoin investor who founded a company which allows content creators to sell their content in exchange for Bitcoin, donated £116,000 before the general election in 2024.
Oscar Townsley, the founder of Bitcoin derivatives trading firm A1X, gave the party £30,000 last year.
Meanwhile, the Conservatives received £82,250 from Alan Eldad Howard, a hedge fund manager and crypto investor.
Labour, the Lib Dems and the Green Party did not receive any donations from crypto interests, according to the analysis.
The revelations about Reform’s funding sources come amid growing scrutiny of Nigel Farage’s finances, after he stepped down and forced a by-election following questions over an undeclared £5 million donation he received from Harborne before the 2024 election.
In response, a Reform spokesperson said the party “takes pride in its stringent vetting of donations”.
Bridget Phillipson, chair of the Labour Party, told The Independent: “Nigel Farage has spent the summer battling a bin in a desperate attempt to dodge scrutiny but people have a right to know what he’s hiding.
“He secretly took a £5m ‘gift’ from a Thai-based crypto billionaire and then promised to cut taxes for the crypto industry.
“Now it seems his party is awash with crypto cash. Farage is treating the public with contempt. With donations from a convicted fraudster and police probes into Reform’s donors and finances – it’s clear they think the rules are for other people.”
Olivia Barber is a reporter at Left Foot Forward
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