The BitMEX exchange is the latest crypto-centric entity to donate to various organizations that assist with COVID-19 relief efforts. The exchange's operator, HDR Global Trading Limited, announced the donation in a release on April 20, 2020.
HDR Global Trading has unveiled its COVID-19 Response Fund and will donate $ 2.5 million to the global fight against the new coronavirus, according to the statement.
The firm indicates that COVID-19 is "An unprecedented crisis" that requires global efforts. Furthermore, it states that "Businesses have a vital role to play in efforts to stem the spread of the virus, mitigate its impact, and save lives, and we are eager to contribute as we can."
The $ 2.5 million grant will be donated to four organizations: Dr. Beth Cameroon's Nuclear Initiative, the two COVID-19 funds from Gates Philanthropy Partners, Our World in Data, and OpenMined.
Speaking about this move, the CEO and Co-Founder of BitMEX of HDR Global Trading Limited said:
“We are committed to donating and making sure that our actions during the COVID-19 crisis can have the greatest impact now and in the future. Therefore, we have decided to award grants totaling $ 2.5 million to four organizations that are making a tangible difference by addressing COVID-19, as well as mitigating global catastrophic biological risks. ”
Notable donations to support the fight against the coronavirus made by cryptocurrency companies
The fight against the coronavirus requires a global effort by everyone. As top scientists continue to search for a coronavirus vaccine, cryptocurrency companies contribute through philanthropy.
According to BitMEX,
"Strategically directed funds can fill gaps in the global response and quickly empower well-equipped but under-resourced organizations."
Several companies in the cryptocurrency industry have donated to help fight the coronavirus. Case in point, Binance promised $ 1 million through its #CryptoAgainstCovid campaign. Ripple also recently donated $ 5 million between various foundations to support the fight..
Earlier this month, the Stellar Development Foundation promised to donate a total of 1.9 million to XLM six non-profit organizations to assist in the fight against coronavirus.