BitMEX operator is donating $2.5M to coronavirus relief efforts

Exchanges • April 20, 2020, 7:15AM EDT

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HDR Global Trading Limited, the operator of crypto derivatives exchange BitMEX, is donating a total of $2.5 million to four organizations working to fight the coronavirus pandemic.

These are Gates Philanthropy Partners, Nuclear Threat Initiative (biosecurity program), OpenMined and Our World in Data, BitMEX announced on Monday. Each of these organizations would receive grants between $300,000 and $1,000,000.

“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,” said Arthur Hayes, co-founder and CEO of HDR Global. Hayes added that these four organizations are making a “tangible” difference in tackling coronavirus and mitigating global catastrophic biological risks.

HDR Global consulted philanthropic advisory group Effective Giving U.K. for the donation.

The BitMEX operator isn’t the only crypto firm to pour millions into the global fight against coronavirus. Earlier this month, Binance committed at least $2.4 million in crypto to buy coronavirus medical supplies and planned to further donate up to $2 million more through Binance Charity Foundation.

Blockchain firm Bitfury also recently donated some of its GPU-based computing power towards coronavirus research.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.