BitMEX cryptocurrency derivative trading platform, which has come under a great deal of bad pressure over the past year, is trying to help clean up the industry as a whole by implementing measures to address the growing climate issues related to the carbon footprint of Proof-of – the business currencies. … like Bitcoin (BTC).
In an announcement released on May 21, the exchange said that while there appeared to be “completely different opinions and accurate information” about the climate risks involved in some cryptocurrencies, BitMEX believes it is “responsible for taking positive action.” …
This action will take the form of an attempt to offset the carbon footprint by donating $ 0.0026 for every dollar of blockchain fees that users pay. The organization that will receive these donations has yet to be determined. BitMEX says it is currently looking into who to partner with and will release additional information in due course. Oslo Bourse admits:
“Balancing carbon emissions is not the only solution to concerns about the environmental impact of cryptocurrencies, but it is definitely a good start, […] the industry must come together and address the problems that could lead to our positive intentions being tracked.”
BitMEX raised the $ 0.0026 mark according to rough estimates posted by Sam Bankman-Freed, CEO of FTX and Alameda Research. Bankman-Fred’s proposal to allow a “high margin of error” is that this amount should be sufficient for crypto firms to offset their carbon emissions.
BitMEX appears to acknowledge that a more decisive response may be required from the industry. This month, the European Central Bank’s recent financial stability review indicated that the exorbitant carbon footprint of cryptocurrencies is a cause for concern. Meanwhile, organizations from Greenpeace to Tesla have begun to stop accepting BTC payments due to the energy intensity of mining and transactions.