BitMEX Donates $2.5 Million Towards COVID-19 Relief Efforts

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BitMEX exchange is the latest crypto-centric entity to donate to various organizations assisting with COVID-19 relief efforts. The operator of the exchange, HDR Global Trading Limited, announced the donation in a statement on April 20, 2020.

BitMEX Makes A $2.5 Million Donation

HDR Global Trading has unveiled its COVID-19 Response Fund and will be donating $2.5 million to the global fight against the novel coronavirus, according to the statement.

The firm notes that COVID-19 is “an unprecedented crisis” which requires global efforts. It further states that ”businesses have a vital role to play in efforts to slow the spread of the virus, mitigate its impact and save lives, and we’re keen to contribute however we can”.

The grant of $2.5 million will be donated to four organizations: Dr. Beth Cameroon’s The Nuclear Initiative, the two Gates Philanthropy Partners COVID-19 Funds, Our World in Data and OpenMined.

Speaking about this move, BitMEX CEO and co-founder of HDR Global Trading Limited said:

“We are committed to thoughtful grantmaking 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 totaling US$2.5 million to four organizations that are making a tangible difference in tackling COVID-19 as well as mitigating global catastrophic biological risks.”

Notable Coronavirus Donations Made By Crypto Firms

The fight against the coronavirus demands a global effort by everyone. As top scientists continue hunting for a coronavirus vaccine, crypto companies are contributing via philanthropy.

Per BitMEX, “strategically directed funds can fill gaps in the global response and rapidly empower well-equipped but under-resourced organizations”.

Several companies in the crypto industry have donated to help fight coronavirus. Case in point, Binance pledged $1 million through its #CryptoAgainstCovid campaign. Ripple also donated $200,000 to two recipients.

Earlier this month, the Stellar Development Foundation promised to donate a total of 1.9 million in XLM to six non-profit organizations to aid in coronavirus fight.