BitMEX Operator Announces COVID-19 Response Fund, Grants $2.5 Million to Diferent Organizations

BitMEX Operator Announces COVID-19 Response Fund, Grants $2.5 Million to Diferent Organizations

HDR Global Trading Limited, the operator of BitMEX cryptocurrency exchange, has announced a COVID-19 Response Fund. Through this fund, the operator has granted US$2.5 million to four organization focused on COVID-19 relief efforts.

BitMEX made the announcement in a blog post published on its website on Monday, April 20. According to the announcement, four has received grant between US$300,000 and US$1,000,000, totalling US$2.5million. Organizations are the following; Gates Philanthropy Partners COVID-19 Funds (The Combating COVID-19 Fund and The Therapeutics Accelerator Fund),  Nuclear Threat Initiative (NTI), OpenMined and Our World in Data.

BitMEX said that aim of providing funding to Gates Philanthropy Partners is to coordinate their philanthropic efforts with other donors to help rapidly develop vaccines, diagnostics and treatments.

The Nuclear Threat Initiative is an independent non-profit organization, consisting of a biosecurity team working to identify the countries most vulnerable to COVID-19 using their Global Health Security Index.

“By supporting this organisation, we can help to reduce the risk of another major pandemic in the future as well as responding to this one,” BitMEX said.

BitMEX operator’s funding to Our World in Data is to supports its work to collate the most up-to-date information on the spread of the virus. On the other hand, OpenMined is providing free open-source support for all COVID-19 app developers to protect their user’s data privacy properly and BitMEX has also decided to support these developers.

HDR Global Trading said that before making these donation, it had consulted with philanthropic advisory group Effective Giving U.K to understand how their donations could have the biggest impact now and in the future. The operator further noted that all the donations via COVID-19 Response Fund are independent from the personal philanthropic initiatives of its co-founder Ben Delo, a signatory of the Giving Pledge.

Arthur Hayes, CEO and co-Founder of HDR Global Trading Limited, commented:

We are committed to thoughtful grant making and ensuring that our actions during the COVID-19 crisis can make the biggest impact now and in the future. We have therefore decided to make grants totalling US$2.5 million to four organisations that are making a tangible difference in tackling COVID-19 as well as mitigating global catastrophic biological risks.”

BitMEX is not the only crypto business that has poured money into ongoing Coronavirus pandemic. As Crypto Economy reported earlier, Binance’s charity arm, Binance Charity Foundation (BCF) has also started a campaign, titled Crypto Against COVID, to raise at least $5 million to be used towards fighting the global epidemic.

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