Sen. Bernie Sanders highlighted the global reach of billionaire political influence on Sunday, pointing to $97 million in donations received by Nigel Farage’s Reform Party from cryptocurrency billionaires.

The independent senator stated that oligarchy is not confined to the United States. He argued that ultra-rich individuals are funding right-wing parties worldwide, asserting that democracy requires one person, one vote.

Donation Sources and Legal Background

According to a Wall Street Journal report cited by Sanders, two cryptocurrency billionaires, Ben Delo and Christopher Harborne, made the largest political donations in British history to the Reform Party.

Both donors contributed approximately $48.7 billion each to support the party ahead of the 2029 general elections. Harborne is known for early investments in Bitcoin and Ethereum. Delo is a co-founder and former executive of the cryptocurrency exchange BitMEX.

Delo, along with BitMEX co-founders Arthur Hayes and Samuel Reed, pleaded guilty in 2022 to violating the Bank Secrecy Act. They were accused of operating the exchange as a money laundering platform. President Donald Trump pardoned the three co-founders in March 2025.

Political Investigations and Industry Spending

Farage is currently facing an investigation regarding a private $6.65 million gift he received from Harborne in early 2024. Farage denies any wrongdoing in connection with the donation.

Sanders has consistently criticized large-scale political spending as legalized bribery. He advocates for overturning the Supreme Court’s Citizens United ruling and transitioning to public election funding.

The cryptocurrency industry has increased its political mobilization. Fairshake, a crypto-focused super PAC, has contributed $88 million as of July 31, reflecting the sector’s growing role in election cycles.

What the Numbers Show

The source data reveals a significant concentration of funding sources. Two individuals, Delo and Harborne, account for the entirety of the reported $97 million influx to the Reform Party. This indicates that the party’s recent financial surge relies heavily on a narrow base of high-net-worth individuals from the cryptocurrency sector rather than broad-based small-dollar donations.

Sen. Bernie Sanders (I-Vt.) escalated his push for stricter artificial intelligence regulation on Monday, warning that a small group of Big Tech billionaires should not determine the technology's societal impact without public oversight.

Sanders Warns of AI ‘Oligarchy’

"The most pressing issue of our time is oligarchy & the power of Big Tech billionaires over AI," Sanders wrote on X. He added, "We can’t allow a handful of greedy people to play God & determine the future of humanity—our economy, environment, democracy, privacy & more—without public input."

He concluded with a call to action: "CONGRESS MUST ACT."

The comments came days after Sanders and Rep. Greg Casar (D-Texas) announced the Ban Artificial Superintelligence Act, one of Congress' most aggressive AI proposals yet.

Sanders Wants Superintelligence Banned

The legislation would permanently prohibit the development and deployment of superintelligent AI while temporarily pausing advanced AI development until a federal regulator establishes safety standards.

It also calls for international agreements to prevent superintelligence from being developed globally. The proposal has drawn criticism from investors and technology policy advocates.

Pershing Square founder Bill Ackman argued that halting U.S. development could allow geopolitical rivals to reach superintelligence first.

Sanders’ AI Push Expands to Data Centers, Public Ownership

Sanders has pushed for a national data-center moratorium, later working with Rep. Alexandria Ocasio-Cortez (D-N.Y.) to put the idea into legislation. While initially facing resistance from Democrats, similar calls have since gained bipartisan support.

Texas Gov. Greg Abbott (R) has halted new data-center approvals pending reviews of their water and power needs. Pennsylvania Gov. Josh Shapiro (D) now requires local approval for new projects.

In June, Sanders proposed giving the public ownership stakes in major AI labs, with the government having a say in deployment decisions. The idea echoes proposals from Anthropic and OpenAI.

Last week, Nvidia Corp (NASDAQ: NVDA) CEO Jensen Huang urged regulators to focus on real-world risks, saying, "Don’t regulate hypothetical theoretical harm, regulate actual and pragmatic harm."

Microsoft Corp (NASDAQ: MSFT) co-founder Bill Gates said he would support a credible global plan to slow AI advances, though he acknowledged such a plan is unlikely.