Crypto billionaires help Reform cement fundraising lead

Reform UK received £7m from two overseas British crypto billionaires earlier this year, figures show, helping it cement its fundraising lead in recent months.

Hong Kong-based businessman Ben Delo gave £4m to Nigel Farage's party, according to latest filings, whilst Christopher Harborne, who lives in Thailand, donated £3m.

The donations were made in the weeks before the government announced a £100,000 cap on donations after 25 March from British citizens living overseas.

The planned limit has sparked a row between the two parties, with Reform accusing Labour of "choking off legal funding for its main rival".

The donations were contained in the latest publication of large donations by the Electoral Commission, covering the first three months of this year.

The filings show Reform accepted £2m from Delo on 14 January, and £2m on 2 March, as well as £3m from Harborne on 23 January. None of the donations was made in cryptocurrency.

The donations accounted for the lion's share of the £9.3m in private donations declared by Reform during the period, and around a third of the £20.7m total declared by all parties.

The party also declared a further £1.1m in donations from biotech entrepreneur David Grainger.