Two crypto billionaires each give Reform UK £36m, setting donation record

Reform UK announced that two prominent figures from the cryptocurrency sector have each contributed £36 million, bringing the total cash injection to £72 million – the largest single donation the party has ever received, according to Sky News. The funds were transferred in a single transaction that the party described as a "record‑breaking haul" and will be used to finance its campaign activities ahead of the next general election.

The donors, identified only as crypto billionaires, have not been publicly named, but their involvement underscores a growing trend of digital‑asset entrepreneurs seeking influence in mainstream politics. Both contributors are reported to have amassed fortunes through early investments in blockchain technologies and have previously supported a range of libertarian‑leaning initiatives.

Reform UK, founded in 2019, positions itself as a right‑of‑centre, eurosceptic alternative to the Conservative Party. Since its inception, the party has relied heavily on small‑scale donations from its membership base, with occasional larger gifts from private backers. The £72 million pledge dwarfs its previous highest single donation, which was a £5 million contribution from a private individual in 2022.

UK political finance rules require parties to disclose donors who give more than £7,500, and the Reform UK filings will be scrutinised by the Electoral Commission. Critics have warned that large sums from the volatile crypto sector could raise questions about the party’s policy direction, especially on issues such as regulation of digital assets and taxation. The party, however, maintains that the money will be used solely for outreach, advertising, and building its grassroots network.

The timing of the donation is notable as the next general election is projected for 2025. With the Conservative Party facing internal turmoil and Labour consolidating its lead, Reform UK hopes the influx of cash will enable it to broaden its appeal beyond its core supporters. Analysts suggest that while the money provides a short‑term boost, translating it into votes will depend on the party’s ability to present a coherent platform that resonates with a wider electorate.