BitMEX Co-Founder Pledges $27 Million to London Institute for Mathematical Sciences Following Trump Pardon

Ben Delo, co-founder of cryptocurrency exchange BitMEX, has pledged 20 million British pounds (approximately $27 million) to the London Institute for Mathematical Sciences (LIMS), marking one of the largest private donations ever made to a UK research institution outside Oxford and Cambridge. The commitment includes an initial $13.3 million upfront donation, with an additional $13.3 million to be released once the Mayfair-based institute secures matching funds through additional fundraising efforts. This substantial gift launches a wider campaign aimed at building an $80 million endowment to secure LIMS' long-term future. Delo stated his ambition to see LIMS winning Fields Medals and Nobel Prizes, citing the institute's innovative approach to research as a key motivation for his support. Unlike larger universities, LIMS allows leading researchers to focus solely on research without teaching or administrative burdens. The institute also offers coaching on research methodology, which Dela noted as a distinguishing feature. Critiquing the UK's funding landscape, Delo described the country's approach to scientific funding as lacklustre and inconsistent. Founded in 2014, BitMEX became one of the world's largest cryptocurrency derivatives exchanges. In 2022, Delo pleaded guilty to US banking violations alongside his BitMEX co-founders and paid a $10 million fine. He received a presidential pardon from Donald Trump in March 2025. Beyond his entrepreneurial pursuits, Delo has previously backed various causes including neurodiversity, academic freedom, and mathematical education and research. In 2025, he funded the creation of the Ben Delo Fellowship at LIMS. Operating from the Royal Institution in rooms once occupied by chemist Michael Faraday, LIMS was founded in 2011 by physicist Thomas Fink. The institute focuses exclusively on research, supporting three-year fellowships in theoretical physics, pure mathematics, and artificial intelligence. In recent years, LIMS has attracted researchers from the United States and supported exiled Russian and Ukrainian scientists. The donation represents a significant boost to the UK's mathematical sciences research community and highlights the growing intersection between cryptocurrency wealth and academic philanthropy.