BitMEX co-founder pledges to give away majority of wealth

Co-founder of derivatives exchange BitMEX, Ben Delo, has pledged his support to Warren Buffet's The Giving Pledge, agreeing to give away the majority of his wealth to tackle the risks of emerging tech

BitMEX co-founder and Britain’s youngest self-made crypto billionaire, Ben Delo, has pledged to give away the majority of his wealth to mitigate against the potential risks of emerging technology and humanitarian catastrophes.

Delo, 35, developed high-frequency trading systems for hedge funds and banks such as JP Morgan before founding BitMEX alongside Arthur Hayes and Sam Reed in 2014.

The Giving Pledge

According to a press release shared with Coin Rivet, Delo has joined Bill Gates and Warren Buffet’s The Giving Pledge, which has seen participation from the world’s most influential billionaires including Mark Zuckerberg, Elon Musk, and Priscilla Chan.

The BitMEX co-founder has engaged in a philanthropic mission over the past few years, donating £5 million to Worcester College in Oxford while collaborating with Facebook and Asana co-founder Dustin Moskovitz on the Open Philanthropy Project.

Delo is the first signatory to pledge his exclusive support to securing the long-term future of humanity. He intends his fund to help target the risks of extreme climate change, nuclear war, and advanced artificial intelligence.

Delo said: “All lives are valuable, including those of future generations. I expect that a vast and extraordinary future lies ahead if we can navigate the challenges and opportunities posed by new technologies in the upcoming century.”

BitMEX becomes market leader

In terms of daily trade volume, BitMEX is the largest cryptocurrency derivatives exchange on the market, regularly topping $3 billion.

Ex-Goldman Sachs partner Mike Novogratz described BitMEX as a the best business in the space and a “freaking money machine” while speaking on Anthony Pompliano’s podcast.

Aside from becoming the most liquid cryptocurrency exchange, BitMEX has been putting resources into BitMEX Research, which has produced extensive reports on the Lightning Network, Bitmain’s troubled IPO, and the recent Bitcoin Cash hard fork.

Click here for Coin Rivet’s beginners guide on BitMEX.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


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