# Ben Delo > Mediated Wiki article. Canonical URL: https://mediated.wiki/source/Ben_Delo > Markdown URL: https://mediated.wiki/source/Ben_Delo.md > Source: https://en.wikipedia.org/wiki/Ben_Delo > Source revision: 1355261925 > License: Creative Commons Attribution-ShareAlike 4.0 International (https://creativecommons.org/licenses/by-sa/4.0/) {{short description|British entrepreneur and programmer}} {{Use dmy dates|date=February 2020}} {{Infobox person | name = Ben Delo | image = Ben Delo on stage at The Spectator's "Who's afraid of Bitcoin?" conference.jpg | alt = Delo at ''The Spectator'''s "Who’s afraid of Bitcoin?” conference, October 2018 | caption = Delo in 2018 | birth_name = Ben Peter Delo | birth_date = {{birth date and age|df=y|1984|02|24}} | birth_place = [Sheffield](/source/Sheffield), [England](/source/England), UK | death_date = | death_place = | education = [Worcester College, Oxford](/source/Worcester_College%2C_Oxford) ([BA](/source/Bachelor_of_Arts)) | known_for = Co-founding [BitMEX](/source/BitMEX) }} '''Ben Delo''' ({{IPAc-en|d|iː|l|əʊ}}, born 24 February 1984) is a British entrepreneur. He is the co-founder and former executive of [BitMEX](/source/BitMEX). In 2022, Delo pleaded guilty to a United States [Bank Secrecy Act](/source/Bank_Secrecy_Act) violation and received a 30-month probation sentence. In 2025, Delo was pardoned by President [Donald Trump](/source/Donald_Trump). ==Early life== Ben Peter Delohttps://find-and-update.company-information.service.gov.uk/officers/6nZkZv1vbupvcF5icdY-bOKECb8/appointments was born in [Sheffield](/source/Sheffield), England. According to Delo, he was diagnosed with [Asperger's](/source/Asperger_syndrome) at age 11, at which point he already had an interest in coding and mathematics.[https://www.perspectivemedia.com/ben-delo/], ''Perspective'' He was educated at [Lord Williams's School](/source/Lord_Williams's_School) and graduated from the [University of Oxford](/source/University_of_Oxford) in 2005 with a [double first-class honours](/source/double_first-class_honours) degree in mathematics and computer science.{{cite news |url=https://www.vanityfair.com/news/2021/02/the-rise-and-fall-of-bitcoin-billionaire-arthur-hayes |title=The Rise and Fall of Bitcoin Billionaire Arthur Hayes |publisher=Vanity Fair |last=Ciralsky |first=Adam |date=4 February 2021 |accessdate=22 December 2022}} ==Career== After a summer internship at [IBM](/source/IBM), he was hired by the company. Delo began his career as a software engineer at IBM, where he was named as an inventor on several patents granted by the [United States Patent and Trademark Office](/source/United_States_Patent_and_Trademark_Office) and the [Intellectual Property Office](/source/Intellectual_Property_Office_(United_Kingdom)).{{Cite web|url=https://patents.google.com/?inventor=ben+delo,benjamin+delo|title=Google Patents|website=patents.google.com}} He went on to develop [high-frequency trading](/source/high-frequency_trading) systems at [hedge fund](/source/hedge_fund)s and banks such as [GSA Capital](/source/GSA_Capital) and [J.P. Morgan](/source/JPMorgan_Chase), dealing predominantly in [kdb+](/source/kdb%2B)/[Q](/source/Q_(programming_language_from_Kx_Systems)).{{cite news|url= https://www.bloomberg.com/news/features/2018-02-01/bored-with-banking-this-former-citi-trader-went-full-crypto|title= Bored With Banking, This Former Citi Trader Went Full Crypto|date= 1 February 2018|work= [Bloomberg L.P.](/source/Bloomberg_L.P.)}} After working with IBM, he moved to Hong Kong in 2012 to work for JP Morgan, at which point he developed an interest in buying Bitcoin. In 2014, Delo met [Arthur Hayes](/source/Arthur_Hayes_(banker)) and Sam Reed, and they co-founded BitMEX, a cryptocurrency derivatives trading platform.{{cite news |url=https://www.spectator.co.uk/article/breaking-the-bank-who-s-afraid-of-bitcoin/ |title=Breaking the bank - Who's afraid of bitcoin? |date= 10 November 2018 |work= [The Spectator](/source/The_Spectator) |last=Reilly |first=Damian |accessdate=17 December 2022}} In 2018, ''[The Times](/source/The_Times)'' reported that Delo was the United Kingdom's youngest self-made billionaire.{{cite news |url=https://www.thetimes.com/business-money/technology/article/wheres-wallet-can-you-spot-ben-delo-the-uks-first-bitcoin-billionaire-llp2fk2rt |title= Where's Wallet? Can you spot Ben Delo, the UK's first bitcoin billionaire? |date= 1 July 2018 |work= [The Times](/source/The_Times) |last=Urwin |first=Rosamund}}{{Cite news |last=Urwin |first=Rosamund |date=2023-07-07 |title=Where's Wallet? Can you spot Ben Delo, the UK's first bitcoin billionaire? |newspaper=[The Times](/source/The_Times) |language=en |url=https://www.thetimes.com/business-money/technology/article/wheres-wallet-can-you-spot-ben-delo-the-uks-first-bitcoin-billionaire-llp2fk2rt |access-date=2023-07-07 |issn=0140-0460}} As noted in a 2020 [IPSO](/source/Independent_Press_Standards_Organisation) complaint, ''The Times'' removed a reference that he had been included in the 2018 ''[Sunday Times Rich List](/source/Sunday_Times_Rich_List)''.{{cite web |url=https://www.ipso.co.uk/rulings-and-resolution-statements/ruling/?id=29243-20 |title=Resolution Statement – 29243-20 Delo v The Times |publisher=Independent Press Standards Organisation |date=29 March 2021 |accessdate=17 December 2022}} In August 2022, Izabella Kaminska at ''[Bloomberg](/source/Bloomberg_L.P.)'' described Delo as "the BitMEX co-founder most responsible for the [perpetual swap](/source/Perpetual_futures)’s invention."{{Cite news |date=2022-08-31 |title=The Crypto Innovation Traditional Finance Needs |language=en |work=Bloomberg.com |url=https://www.bloomberg.com/opinion/articles/2022-08-31/perpetual-futures-are-the-crypto-innovation-finance-needs-to-manage-inflation |access-date=2023-11-07}} In early 2026, Delo gave £4 million to [Reform UK](/source/Reform_UK), and in April 2026 announced he was moving back to the UK after the Labour government changed the law to put a £100,000 cap on political donations from Britons living abroad.{{Cite web |last=Rayner |first=Gordon |date=2026-04-08 |title=Billionaire expat moves back to UK to donate millions to Reform |url=https://www.telegraph.co.uk/politics/2026/04/08/billionaire-expat-ben-delo-moves-to-uk-to-donate-reform/ |access-date=2026-04-08 |website=[Telegraph.co.uk](/source/Telegraph.co.uk)}} In an article in ''The Telegraph'', he wrote that England was his home and that “the biggest obstacle to national recovery is the entrenched self-deception of our elites”.{{cite web |last1=Mason |first1=Rowena |title=British crypto billionaire Ben Delo says he has given £4m to Reform UK |url=https://www.theguardian.com/politics/2026/apr/08/british-crypto-billionaire-ben-delo-says-he-has-given-4m-to-reform-uk |website=[The Guardian](/source/The_Guardian) |access-date=9 April 2026 |date=8 April 2026}} ==Bank Secrecy Act violation== On 1 October 2020, the [Commodity Futures Trading Commission](/source/Commodity_Futures_Trading_Commission) and the [US Department of Justice](/source/US_Department_of_Justice) charged BitMEX and its co-founders, including Delo, with various violations of American law. Delo and three others were charged with violating the [Bank Secrecy Act](/source/Bank_Secrecy_Act) by failing to implement an adequate anti-[money laundering](/source/money_laundering) program. The regulators alleged that the BitMEX trading platform was required to have registered aspects of its operations in the US and had failed to do so.{{Cite news |last=Stempel |first=Jonathan |date=2020-10-01 |title=U.S. charges BitMEX cryptocurrency founders with failing to prevent money laundering |language=en|work=[Reuters](/source/Reuters) |location=New York |url=https://www.reuters.com/article/us-usa-crime-bitmex-idUSKBN26M6SE |url-status=live |access-date=2020-10-01 |archive-url=https://web.archive.org/web/20201001192448/https://www.reuters.com/article/us-usa-crime-bitmex/u-s-charges-bitmex-cryptocurrency-founders-with-failing-to-prevent-money-laundering-idUSKBN26M6SE |archive-date=2020-10-01}} In March 2021, Delo traveled to the United States and surrendered himself to authorities in New York. He pleaded not guilty to the charges and was bailed on a $20 million bond before being allowed to return to the United Kingdom.{{cite news |url=https://cointext.com/news/bitmex-co-founder-ben-delo-surrenders-to-us-authorities/ |title=Bitmex co-founder Ben Delo surrenders to US authorities |publisher=CoinText |date=16 March 2021 |last=Maishera |first=Hassan |accessdate=22 December 2022}}{{cite web |url=https://www.tbstat.com/wp/uploads/2021/03/ben_delo_bail.pdf |title=SDNY Court Document 15 March 2021 |publisher=Southern District of New York |date=15 March 2021 |accessdate=22 December 2022}} On 24 February 2022, the [Attorney for the Southern District of New York](/source/United_States_Attorney_for_the_Southern_District_of_New_York) announced that Delo and his BitMEX cofounder had each pleaded guilty to one Bank Secrecy Act violation for "willfully failing to establish, implement, and maintain an anti-money laundering ('AML') program at BitMEX". Under the terms of their [plea agreement](/source/plea_agreement)s, Delo and his co-founders each agreed to pay a $10 million civil monetary penalty to the CFTC.{{cite web |title=Founders Of Cryptocurrency Exchange Plead Guilty To Bank Secrecy Act Violations |url=https://www.justice.gov/usao-sdny/pr/founders-cryptocurrency-exchange-plead-guilty-bank-secrecy-act-violations |website=United States Department of Justice |date=24 February 2022 |access-date=25 February 2022}}{{cite web |title=Co-Founders Ordered to Pay $10 Million Each |url=https://www.cftc.gov/PressRoom/PressReleases/8522-22 |website=Commodity Futures Trading Commission |date=5 May 2022 |at=Release Number 8522-22 |access-date=21 December 2022}} On 15 June 2022, Delo was sentenced to 30 months' probation,{{cite news |url=https://www.wsj.com/articles/bitmex-co-founder-sentenced-to-probation-on-u-s-compliance-charge-11655339914?mod=article_inline |title=BitMEX Co-Founder Sentenced to Probation on U.S. Compliance Charge |publisher=The Wall Street Journal |last=Vanderford |first=Richard |date=15 June 2022 |accessdate=7 January 2023}} through 15 December 2024. On 29 March 2025, Delo and the other two BitMex founders were pardoned by President [Donald Trump](/source/Donald_Trump).{{cite news |title=Trump Pardons BitMEX Crypto Exchange Co-Founder Arthur Hayes |url=https://www.bloomberg.com/news/articles/2025-03-28/trump-pardons-bitmex-co-founders-arthur-hayes-benjamin-delo-and-samuel-reed |access-date=2015-03-29 |work=[Bloomberg News](/source/Bloomberg_News) |date=28 March 2025 |first1=Stephanie |last1=Lai |first2=Chris |last2=Dolmetsch}} ==Philanthropy== In October 2018, Delo gave £5 million to his Oxford alma mater [Worcester College](/source/Worcester_College), endowing two teaching fellowships in perpetuity and becoming the youngest major donor in the College's history.{{cite web |url=https://www.worc.ox.ac.uk/news-events/news/ben-delo-gives-5-million-to-worcester |title=Ben Delo gives £5 million to the College |publisher=Worcester College, Oxford |date=26 October 2018 |accessdate=22 December 2022}}{{cite web |url=https://fingfx.thomsonreuters.com/gfx/legaldocs/zjpqklkkxpx/delo-sentencing-memo-2022.pdf |title=Defendant Benjamin Delo's Sentencing Memorandum |publisher=Foley Hoag LLP, Smith Villazor LLP |date=1 June 2022 |accessdate=17 December 2022}} At the same time, the College elected him into an Honorary Fellowship in recognition of his work in computing and his philanthropy. In April 2019, Delo signed [the Giving Pledge](/source/the_Giving_Pledge), announcing his intention to give away at least half of his wealth during his lifetime being inspired by the philosophy of [effective altruism](/source/effective_altruism).{{Cite web |last=Delo |first=Ben |date=15 April 2019 |title=Ben Delo |url=https://givingpledge.org/Pledger.aspx?id=383 |archive-url=https://web.archive.org/web/20190528183850/https://givingpledge.org/Pledger.aspx?id=383 |archive-date=May 28, 2019 |access-date=2019-06-17 |website=The Giving Pledge}} That month, Delo also became a member of [Giving What We Can](/source/Giving_What_We_Can).{{Cite web |date=2019-11-11 |title=Co-funding Partnership with Ben Delo |url=https://www.openphilanthropy.org/blog/co-funding-partnership-ben-delo |access-date=2020-11-14 |website=Open Philanthropy|language=en}}{{Cite web |last= |first= |date= |title=List of Giving What We Can Pledge Members |url=https://www.givingwhatwecan.org/about-us/members/ |access-date=2020-11-14 |website=www.givingwhatwecan.org}} In March 2020, Delo and ''Effective Giving'' funded a project led by the University of Oxford to survey of community-based infection of [COVID-19](/source/COVID-19) in the UK.{{cite web |url= https://www.zoo.ox.ac.uk/article/researchers-determine-community-covid-19-infection-rates-uk-using-serology-pcr-and-nanopore |title= Researchers to determine community COVID-19 infection rates in the UK using serology, PCR and Nanopore Sequencing Technology |date= 4 April 2020 |work=Oxford Department of Zoology |archive-url=https://web.archive.org/web/20201130040843/https://www.zoo.ox.ac.uk/article/researchers-determine-community-covid-19-infection-rates-uk-using-serology-pcr-and-nanopore |archive-date=30 November 2020}} Delo is associated with Mersenne.org and the [Great Internet Mersenne Prime Search](/source/Great_Internet_Mersenne_Prime_Search), a collaborative internet project to find [Mersenne prime](/source/Mersenne_prime) numbers.{{Cite web |title=PrimeNet - Customized Top Producers |url=https://www.mersenne.org/report_top_500_custom/?type=2000&start_date=2000-01-06 |access-date=2023-05-31 |website=www.mersenne.org}}  In 2020, he co-founded the Sheila Coates Foundation, which supports students with autism in Britain. In 2023, he established the Ben Delo Commonwealth Leadership Programme, a scholarship initiative for postgraduate studies at [King's College London](/source/King's_College_London).{{Cite web |title=Scholarships {{!}} International School for Government {{!}} King's College London |url=https://www.kcl.ac.uk/isfg/scholarships |access-date=2024-01-08 |website=www.kcl.ac.uk}}{{Cite web |last=London |first=King's College |title=New scholarship programme for Commonwealth civil servants launched |url=https://www.kcl.ac.uk/news/new-scholarship-programme-for-commonwealth-civil-servants-launched |access-date=2024-01-08 |website=King's College London |language=en}} In 2025, he funded the Ben Delo Fellowship at the [London Institute for Mathematical Sciences](/source/London_Institute_for_Mathematical_Sciences).[https://www.spectator.co.uk/article/why-im-giving-my-money-to-maths/] - ''[The Spectator](/source/The_Spectator)'' - Ben Delo - 2025 In 2026, he gave £25 million to his autism charity the Sheila Coates Foundation,{{cite web |last1=Hayes |first1=George |title=Cryptocurrency tycoon gives £25m to his autism charity |url=https://www.civilsociety.co.uk/news/cryptocurrency-tycoon-gives-25m-to-his-autism-charity.html |website=Civil Society |access-date=2 May 2026 |date=20 February 2026}} and pledged an additional £20 million to the London Institute for Mathematical Sciences.{{cite news |last1=Peel |first1=Michael |title=Pardoned crypto tycoon pledges £20mn to UK maths and physics institute |url=https://www.ft.com/content/6e0e52f2-d747-4ba2-b4bb-1772ac71c8de |access-date=2 May 2026 |work=[Financial Times](/source/Financial_Times) |date=2 March 2026}}{{cite web |last1=Peel |first1=Michael |title=Pardoned crypto tycoon gives £20mn to UK maths and physics institute |url=https://lims.ac.uk/perspectives/pardoned-crypto-tycoon-gives-20mn-to-uk-maths-and-physics-institute/ |website=[London Institute for Mathematical Sciences](/source/London_Institute_for_Mathematical_Sciences) |publisher=[Financial Times](/source/Financial_Times) |access-date=2 May 2026 |date=3 March 2026}}{{cite news |last1=Woolcock |first1=Nicola |title=Crypto billionaire pardoned by Trump gives £20m to science |url=https://www.thetimes.com/uk/education/article/ben-delo-biggest-non-oxbridge-donation-universities-lrbb0lc7v |access-date=2 May 2026 |work=[The Times](/source/The_Times) |date=3 March 2026}} ==See also== *[List of people granted executive clemency in the second Trump presidency](/source/List_of_people_granted_executive_clemency_in_the_second_Trump_presidency) ==References== {{Reflist}} {{Authority control}} {{DEFAULTSORT:Delo, Ben}} Category:Living people Category:1984 births Category:People educated at Lord Williams's School Category:Alumni of Worcester College, Oxford Category:Alumni of the University of Oxford Category:21st-century British philanthropists Category:People associated with cryptocurrency Category:People associated with effective altruism Category:21st-century British businesspeople Category:Hong Kong businesspeople Category:20th-century Hong Kong businesspeople Category:21st-century Hong Kong businesspeople Category:Financial technology company founders Category:Businesspeople from Sheffield Category:British expatriates in Hong Kong Category:Reform UK donors Category:People pardoned by Donald Trump --- Adapted from the Wikipedia article [Ben Delo](https://en.wikipedia.org/wiki/Ben_Delo) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Ben_Delo?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.