The operator of the BitMEX cryptocurrency exchange and derivatives trading platform, HDR Global Trading Limited has just made a donation of $2.5 million to the Gates foundation Philanthropy partners and three other non-profits organizations.
This development is part of the company’s effort to contribute to the global fight against the COVID-19 pandemic that has affected more than 2.4 million people as of today.
The BitMEX operator’s COVID-19 Response Fund has issued grants between $300,000 and $1,000,000, totaling $2.5million, to four non-profits including Gates Philanthropy Partners, Nuclear Threat Initiative (Biosecurity Program), OpenMined and Our World in Data.
Speaking on why they chose these four organizations, the company said;
As a fintech company, the best way for us to contribute to these efforts is through philanthropy. Philanthropy has unique potential in this crisis; strategically directed funds can fill gaps in the global Response and rapidly empower well-equipped but under-resourced organizations. The four organizations we have chosen to support are leading efforts to tackle COVID-19 and are able to scale up their Response given more funding.
Crypto Against COVID-19
The fight against the COVID-19 pandemic is a fight for all, such that demands a global and coordinated response, as it concerns many countries around the globe. The cryptocurrency space is not lagging behind either in efforts to curb the spread of the novel Coronavirus.
With scientists still trying to create a vaccine for the COVID-19, the best method to combat the outbreak is by reducing the pace at which the virus spreads. According to BitMEX, businesses, therefore, have a crucial role to play in slowing down the spread of the Coronavirus by donating money and other essential materials.
To support the cause, even leading cryptocurrency exchange Binance, recently launched a $5M Fundraising Project called “Crypto Against Covid” to fight the pandemic. The exchange donated $1 million with a promise to donate an additional $2 million via its ongoing #CryptoAgainstCOVID Twitter campaign.