Ben Delo, a British-born cryptocurrency entrepreneur, has made an unprecedented £36m donation to Reform UK, a gift his foundation says has been matched by a fellow donor and which party strategists say could materially affect the next general election.
From Sheffield childhood to crypto billionaire
Delo was born in Sheffield in 1984 to a civil engineer father and a schoolteacher mother. He has spoken about being diagnosed with Asperger syndrome at the age of 11; his foundation says that, after receiving structured support at Lord Williams's School in Thame, Oxfordshire, his academic potential was unlocked.
He read mathematics and computer science at Worcester College, Oxford, graduating in 2005 with a double first. His early career included work as a software engineer at IBM and roles developing high-frequency trading systems for hedge funds and banks such as GSA Capital, Peel Hunt and later JP Morgan, where he worked in Hong Kong from 2012.
BitMEX, inventions and philanthropic interests
In 2014 Delo co-founded the cryptocurrency derivatives platform BitMEX. His foundation states that the platform at its peak handled more than $1 trillion in trading volume each year. He was also granted patents for technologies he developed, reportedly including software to automatically repair internet links to material that had been archived or moved.
“possibly the most successful derivatives product in the history of capitalism”
The phrase above, used by Ryan Radloff — former CEO of CoinShares — described the financial innovation known as the perpetual swap, a product attributed to Delo during his time at BitMEX.
Political consequences and timing
The donation has been described by observers as positioning Delo to have a significant impact on the next general election, which could be held as late as the summer of 2029. The gift has already prompted a high-profile match from another donor, Christopher Harborne, boosting Reform UK’s war chest ahead of future campaigning.
Reform’s leadership has publicly celebrated the contributions; the funding surge will allow the party to expand staffing, advertising and other campaign activities. The long-term effect on the party’s standing with voters will depend on how the funds are deployed and how the political landscape evolves in the coming years.
How Delo describes his priorities
Through his foundation, Delo is presented as an entrepreneur and philanthropist with stated interests in neurodiversity, academic freedom and mathematical discovery. Those causes sit alongside his business legacy in cryptocurrency and financial technology.
- Donation: £36m to Reform UK
- Matched by: Christopher Harborne (amount matched)
- Born: Sheffield, 1984
- Education: Double first in mathematics and computer science, Worcester College, Oxford (2005)
- Notable business: Co-founder of BitMEX (2014)
| Year | Milestone |
|---|---|
| 1984 | Born in Sheffield |
| 2005 | Graduated Oxford, double first |
| 2012 | Moved to Hong Kong to work for JP Morgan |
| 2014 | Co-founded BitMEX |
The scale of the donation and the immediate matching contribution mark a significant moment in UK political funding. Analysts will watch whether the financing translates into sustained gains at the ballot box, or whether it prompts further scrutiny of party funding and the influence of wealthy benefactors on national politics.
For now, the donation cements Delo’s public profile in Britain — from a mathematician and software developer to a major political donor and philanthropist with a footprint in both finance and public causes.
