🔴NEW: Ben Delo has given Reform £44MILLION Delo’s money comes from his now-closed crypto exchange BitMEX In 2019, a BitMEX investor asked about the status of his investment Delo responded by sending this meme, according to court documents. There’s more, a lot more (new investigation🧵)
That meme comes from a lawsuit against Delo and BitMEX. The case was dropped but Delo is named in a new US class action accusing his BitMEX of trading against its own customers – and keeping $40MILLION worth of Bitcoin that should have gone back to them The class action, filed in New York in July, accuses Delo and BitMEX of “theft” and says wants to hold them “accountable for the fraudulent conduct” BitMEX closed down in September, a few weeks after Delo announced he was giving Reform £36m. democracyforsale.substack.com
democracyforsale.substack.com
We spoke exclusively to their lawyer, Daniel Charest, who says there was “something illegal, unethical and immoral” about Delo and BitMEX's BitMEX says it has successfully defended more than 20 'spurious claims' and will 'vigorously' fight this The lawsuit alleges Delo and BitMEX ran an 'Insider Trading Desk' with 'God access' to customers' positions and liquidation points, and liquidated customer’s accounts when profitable. The plaintiffs are demanding the return of $40m worth of Bitcoin. It's not the first time Delo's BitMEX record has been in court. In 2022 Delo pleaded guilty to a Bank Secrecy Act violation over BitMEX's failure to have anti-money laundering controls. Trump pardoned Delo and BitMEX in 2025. Delo and his fellow crypto tycoon Christopher Harborne have now given Reform £100m+ Reform has pledged to deregulate crypto. Delo and Harborne say there is no quid-pro-quo. But should crypto money buy British democracy? 🔴Read the full story: democracyforsale.substack.com
democracyforsale.substack.com