In a significant move that could reshape the landscape of mathematical research in the United Kingdom, Ben Delo, co-founder of the cryptocurrency exchange BitMEX, has pledged 20 million British pounds ($27 million) to the London Institute for Mathematical Sciences (LIMS). This generous donation, one of the largest private contributions to a UK research institution outside of Oxford and Cambridge, aims to elevate LIMS to the global stage and secure its long-term future.
A Transformative Gift
The commitment includes an immediate payment of $13.3 million and an additional $13.3 million that will be released once the Mayfair-based institute matches the amount through further fundraising. This substantial donation launches a broader campaign to build an $80 million endowment, ensuring LIMS can continue its cutting-edge research without financial constraints.
“I want to see LIMS winning Fields Medals and Nobel Prizes”
Delo’s vision for LIMS is ambitious. “I would like to see LIMS winning Fields Medals and Nobel Prizes—they are already doing some world-class things, and I want to help,” he told Times Higher Education. Delo’s support for LIMS is rooted in his belief that the institute’s unique model, which allows researchers to focus solely on research without the burdens of teaching or administration, can lead to groundbreaking discoveries.
A Critique of the UK’s Scientific Funding
Delo’s decision to support LIMS over larger universities is also a critique of the UK’s scientific funding landscape. “The UK’s approach to scientific funding is lacklustre and inconsistent, and I believe LIMS’s innovative approach can set a new standard,” he said. LIMS, founded in 2011 by physicist Thomas Fink, operates from the historic Royal Institution, where chemist Michael Faraday once conducted his experiments. The institute focuses exclusively on research, offering three-year fellowships in theoretical physics, pure mathematics, and artificial intelligence.
A History of Philanthropy
Delo’s philanthropic efforts extend beyond LIMS. He is a trustee of the institute and 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, further solidifying his commitment to advancing mathematical sciences.
A Complex Background
Delo’s journey to philanthropy is not without controversy. In 2022, he and his co-founders pleaded guilty to U.S. banking violations, paying a $10 million fine. However, he received a presidential pardon from Donald Trump in March 2025, which has since allowed him to focus on his philanthropic endeavors without the shadow of legal troubles.
A Forward-Looking Vision
The impact of Delo’s donation extends beyond financial support. It signals a growing trend of private investment in scientific research, particularly in the UK, where public funding has often been insufficient. As LIMS continues to attract top talent and support exiled scientists from Russia and Ukraine, the institute is poised to become a hub of innovation and discovery. Delo’s vision, combined with the institute’s innovative approach, could set a new standard for research institutions globally, ensuring that the UK remains at the forefront of mathematical and scientific advancements.
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