HashCash Consultants have announced they are creating a Corona Fund Index Cryptocurrency (CFIX) which will they allege, will allow traders to earn profits even during a bear market by the backing of an inverse Exchange Traded Fund (ETF), which is inversely pegged to the S&P 500 market index. HashCash has pledged 90 per cent of its CFIX trade earnings to its Corona Relief Fund and the proceeds will be donated to various non-profits and organizations that are actively combating the global pandemic crisis.
Raj Chowdhury, CEO, HashCash Consultants commented:
“The inception of CFIX was motivated by HashCash’s aim to provide financial aid to nonprofits and research organizations battling the COVID-19 crisis. The ETF backing incentivizes CFIX, which benefits not only the traders but enables us to raise more funds for all who are affected by Novel Coronavirus, which is the ultimate goal of this initiative.”
Chowdhury, no stranger to altruistic endeavours, donated the entire proceeds from his self authored Silicon Valley saga and book at Amazon called The Dark Secret of the Silicon Valley: A Billionaire’s Accomplice Confesses his Partner’s Crimes to Asha to fund schools in the villages of India.
CFIX, scheduled for launch on April 2nd, 2020 is paired with USDT (Tether) and HashCash hopes to be listed under major exchanges across the world so that the traders can access it easily.
HashCash Consultants, founded in 2015 in Fremont, California, are the creators of Blockchain-based financial applications that handle Retail Remittance, Corporate Payments, Trade finance, and Foreign Exchange trading.