BitMEX, a leading crypto exchange, and derivatives company has joined other cryptocurrency firms, including Binance, to issue coronavirus response funds. The funds which are worth millions were donated by the parent company, HDR Global Trading Limited.
BitMEX contributes $2.5 million
As per the announcement on Monday, the crypto company donated a total of $2.5 million to four different philanthropic organizations globally. It noted that the coronavirus response fund is purported to bring relief and to support the global fight against the pandemic.
The four organizations, which include the Bill Gate’s foundation was reportedly chosen by the cryptocurrency company due to their leading efforts towards the coronavirus outbreak. Each organization is expected to receive funds from $1,000,000 to a minimum of $300,000.
The latest donation from the cryptocurrency industry is coming at a good time and will help where necessary, to curb the increasing cases around the globe. There are now over two million confirmed cases of the virus globally, as medical experts continue to work towards the solution of the health crisis.
To this extent, the crypto derivatives company believes that the coronavirus response fund will enable the organizations to increase their efforts to tackle the pandemic. Not just for the coronavirus, BitMEX hopes that it will help to avoid more risk of future pandemics.
According to Arthur Hayes, the co-founder and Chief Executive Officer of BitMEX, the company is committed to issuing grants to support the fight against the virus. They expect their actions to make a significant impact during this pandemic and in the future.
Companies in the cryptocurrency industry have been active in the fight against COVID-19. Recently, Binance and Waves Exchange participated in campaigns aimed at raising coronavirus response funds for organizations engaged in the COVID-19 battle.
Another hefty donation came from the Chief Executive Officer of Twitter, Jack Dorsey. The Bitcoin supporter reportedly contributed about $1 billion, which he said was only 28% of his total worth.