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Ben Delo

Ben Delo is the British mathematician who in 2014 co-founded the derivatives exchange BitMEX, becoming the United Kingdom's youngest self-made billionaire. Convicted in the US for anti-money-laundering violations and pardoned by Trump in 2025, today he devotes himself mainly to philanthropy.

Riccardo CuratoloBy Riccardo Curatolo 2 min read How we work
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Who he is

Born in Sheffield in 1984, Ben Delo graduated from Oxford in 2005 with a double first in mathematics and computer science. He started out as a software engineer at IBM (with several patents to his name) and then built high-frequency trading systems for GSA Capital and J.P. Morgan. In 2014, with Arthur Hayes and Sam Reed, he co-founded BitMEX, the derivatives platform that invented the perpetual swap and dominated leveraged crypto trading until 2020. His recent history is split in two: the US conviction over BitMEX's anti-money-laundering shortcomings, closed with the presidential pardon of 2025, and prominent philanthropic activity linked to the Giving Pledge.

Current role

Philanthropist and investor; no operational role at BitMEX appears, of which he remains a co-founder. On his official website he presents himself as a "fintech entrepreneur & philanthropist": he supports mathematical research and teaching (including the London Institute for Mathematical Sciences), neurodiversity and academic freedom. In 2025-2026 he also emerged as one of the United Kingdom's largest political donors, with a 4 million pound donation to the Reform UK party. (Verified: September 2026)

Career path

  • 2005-2014 — IBM, GSA Capital, J.P. Morgan: software engineering and high-frequency trading systems, mainly in kdb+/Q.
  • 2014 — co-founds BitMEX with Arthur Hayes and Sam Reed: the platform made him, in 2018, Britain's youngest self-made billionaire.
  • 2019 — signs the Giving Pledge, committing to give away at least half of his wealth; as early as 2018 he had donated 5 million pounds to Worcester College, Oxford.

Recent developments and controversies

  • The BitMEX case in the US: indicted in 2020 along with the other founders, in February 2022 Delo pleaded guilty to violating the Bank Secrecy Act (the lack of an anti-money-laundering programme at BitMEX), paying 10 million dollars and receiving 30 months of probation. Outcome: sentence fully served.
  • Presidential pardon (28 March 2025): Donald Trump granted a full and unconditional pardon to Delo, Hayes, Reed and a former BitMEX employee. Delo called it a "vindication" of his position. (Verified: September 2026)
  • Donation to Reform UK: the 4 million pound contribution made him one of Britain's leading political funders, with attendant public debate about his judicial past. (Verified: September 2026)

FAQ

Does Ben Delo still work at BitMEX? No current operational role appears: he remains a co-founder, but since 2020 the exchange has been run by other managers and Delo devotes himself to philanthropy. (Verified: September 2026)

Was Ben Delo convicted? Yes: in 2022 he pleaded guilty in the US to a violation of the Bank Secrecy Act linked to BitMEX (a 10 million dollar penalty and probation). In March 2025 he received a full pardon from President Trump.

See also

Verified sources

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