Seychelles-registered crypto derivatives exchange BitMEX join philanthropic efforts to fight the COVID-19

By Selena On Apr 20, 2020

HDR Global Trading Limited, the owner of the leading cryptocurrency derivative and exchange, BitMEX, has announced its support in the fight against the Coronavirus pandemic through the COVID-19 Response Fund worth millions of dollars.

On April 20, the exchange’s operator, HDR Global Trading, launched a dedicated COVID-19 Response Fund and announced its contribution of a total $2.5 million in grants to four recipients.

As part of our commitment to grantmaking and to support the global effort to respond to the #COVID19 pandemic, we have awarded a total of US$2.5 million to @gatesfoundation Philanthropy Partners, @NTI_WMD, @openminedorg and @OurWorldInData. More info at https://t.co/wqs9OP6Ow3

— BitMEX (@BitMEXdotcom) April 20, 2020

BitMEX donated $ 2.5 million to four non-profit organizations around the world

BitMEX Exchange said in today’s announcement that it has donated $ 2.5 million to four nonprofit organizations around the world to support global efforts to cope with the disease.

The non-profits, Gates Philanthropy Partners, Nuclear Threat Initiative (Biosecurity Program), OpenMined, and Our World in Data (OWID), would receive grants between $300,000 and $1,000,000. The four organizations were selected as they are leading the efforts in the fight against COVID-19. Gates Philanthropy Partners include The Combating COVID-19 Fund and The Therapeutics Accelerator Fund. While the former focuses on creating vaccines, diagnostics, protecting vulnerable people in Africa and South Asia, the latter is finding an effective treatment for the virus.

BitMEX believes that granting these organizations access to more funding would help scale up their response in tackling the virus as well as reducing the risks of major pandemics in the future.

BitMEX’s CEO and co-founder Arthur Hayes, stated:

“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.”

As companies and entrepreneurs continue to raise funds and supplies for the fight against the COVID-19 pandemic, Twitter CEO Jack Dorsey announced last month that he was contributing a huge fund to the cause. Dorsey is a famous Bitcoin proponent. He has transferred $ 1 billion to his Square Equities to Start Small LLC to fund the global COVID-19 relief. According to him, the amount accounted for 28% of his net worth.

I’m moving $1B of my Square equity (~28% of my wealth) to #startsmall LLC to fund global COVID-19 relief. After we disarm this pandemic, the focus will shift to girl’s health and education, and UBI. It will operate transparently, all flows tracked here: https://t.co/hVkUczDQmz

— jack (@jack) April 7, 2020

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