𝓤𝓷𝓲𝓽𝓮𝓭 𝓝𝓮𝔀𝓼

Data from the Electoral Commission also showed that Ben Delo, another cryptocurrency magnate based in Hong Kong, donated £4million to Reform in two lump sums during the first quarter of the year. Meanwhile, Labour received around £4million over the same period, with Lord David Sainsbury and Gary Lubner among its biggest donors.

The Conservatives had the second-largest amount of donations, totalling £6million, including £1.1million from someone called Mary V Doran.

The latest data comes after Labour clamped down on the amount foreign-based donors can give to political parties, with those based outside the UK now facing an annual cap of £100,000.

The change, implemented in March, followed scrutiny of a £12million donation to Reform from Mr Harborne last year.

Mr Farage has insisted the billionaire does not want anything in return for his donations but is also facing questions over a £5million gift he received from the crypto magnate months before announcing he would stand as an MP in 2024.

He has variously said the gift was to pay for his personal security and that it was a reward for his years of campaigning for Brexit.

The Reform leader is currently under investigation by Parliament’s standards commissioner over whether he should have registered the gift as an interest.

Mr Delo, the other crypto-billionaire who is among the party’s latest political donors, has said he will move back to the UK from Hong Kong to avoid being subject to the £100,000 cap.