Sen. Bernie Sanders (I-VT) raised concerns on Sunday about the growing global influence of billionaires in politics, citing the U.K. Reform Party securing $97 million in donations from cryptocurrency billionaires.
Sanders Questions Big Money Influence
Sanders said in an X post that oligarchy is going global.
“The billionaires are not just buying American politicians; they are funding right-wing parties all over the world — including the UK Reform Party,” the independent lawmaker added. “The ultra-rich must not be allowed to buy governments ANYWHERE.”
Sanders cited a Wall Street Journal report that two cryptocurrency billionaires, Ben Delo and Christopher Harborne, made the largest political donations in British history to Nigel Farage’s Reform Party.
Both said they donated roughly $48.7 billion to help the party ahead of the 2029 general elections.
Farage Under Investigation Over Crypto ‘Gifts’
Harborne is a billionaire investor, known for his early stakes in Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), according to a report by The Guardian.
Delo is the co-founder and former executive of the cryptocurrency exchange BitMEX. He, along with fellow co-founders Arthur Hayes and Samuel Reed, was accused of operating BitMEX as a "money laundering platform" and creating a "sham" withdrawal from the U.S. market.
The three pleaded guilty in 2022 to violating the Bank Secrecy Act for failing to establish anti-money laundering violations. President Donald Trump pardoned the three co-founders in March 2025.
Interestingly, Farage is facing an investigation over a private $6.65 million gift he received from Harborne in early 2024.
Farage, known for his close ties with President Donald Trump and his frequent praise for him, denies any wrongdoing.
Crypto Donations Spike
Sanders has been an outspoken critic of big money in politics, describing it as "legalized bribery." He holds an unequivocal belief that the Supreme Court’s Citizens United rulinh must be overturned and that elections should transition to public funding without delay.
The cryptocurrency industry, which emerged as a dominant lobbying force in the 2024 elections, has also mobilized for this year’s cycle. Fairshake, a cryptocurrency-focused super PAC, has contributed $88 million as of July 31.
Photo Courtesy: lev radin on Shutterstock.com
Login to comment