# Labour courts donors as Reform's crypto millions spark alarm

> Labour hosted a No 10 drinks party for major donors while facing pressure to cap political donations after Reform received £72m from two crypto billionaires.
- Title: Labour courts donors as Reform's crypto millions spark alarm
- Summary: Labour hosted a No 10 drinks party for major donors while facing pressure to cap political donations after Reform received £72m from two crypto billionaires…
- Keywords: labour party, political donations, reform uk, crypto billionaires, ben delo, christopher harborne, andy burnham, donations cap, party funding, trade unions, downing street, news
- Source: the Guardian — https://theguardian.com/politics/2026/sep/16/no10-donor-reception-labour-donations-cap
- Published: 2026-09-16T16:16:10+00:00
- Read time: 1 min
- Topics: labour party, political donations, reform uk, crypto billionaires, ben delo, christopher harborne, andy burnham, donations cap, party funding, trade unions, downing street, news
## Labour hosts No 10 donor party
Labour held a drinks reception at Downing Street for high-level donors including business leaders and philanthropists from the party's Rose Network, who give thousands annually.
## Reform's £72m crypto windfall
Reform UK received £72m from crypto billionaires Ben Delo and Christopher Harborne in just 48 hours, triggering alarm among Labour MPs and unions about unchecked political spending.

> a blatant attempt to effect a corporate takeover of our politics
## Labour mobilises members to compete
Labour sent two fundraising emails to members over the weekend, directly responding to Reform's donations and asking supporters to donate what they could to match the crypto billions.

> One person can't match £72m. But thousands of us, standing together, can make sure Labour is as well-resourced
## Unions divided on donations cap
Trade union leaders at the TUC stopped short of backing a specific cap on individual donations, though they called for action on big money in politics and defended union donations as the cleanest funding source.
## Burnham earns unions a 'second hearing'
Union leaders including Unite's Sharon Graham said Andy Burnham has given Labour a warmer relationship with unions than under Keir Starmer, though they warned of tests ahead including the budget.

> earned the party a 'second hearing'
## Labour's finances under strain
Labour lost over a fifth of its membership in a year and saw donation income drop 84% since the election, reporting a £2.6m deficit last year, though the party claims it's now in its strongest position since the general election.
## The timing question
Labour said the No 10 donor reception was organised before news of Reform's £72m donations broke, but the timing raises questions about the party's approach to big money in politics.
## Key takeaway

Labour is caught between fundraising from wealthy donors and growing calls from MPs and unions to restrict large political donations, especially after Reform's massive crypto influx.