Arthur Hayes, a well-known figure in the cryptocurrency world and former CEO of BitMEX, has recently launched a new grant program aimed at supporting Bitcoin developers. This initiative, known as the “Bitcoin Grant Program,” is designed to help enhance the resilience, scalability, and privacy features of the Bitcoin network.
The program is backed by Hayes’ Maelstrom fund and is open to blockchain developers looking to address the scalability and privacy issues currently facing Bitcoin. The goal of the program is to support the technical development of Bitcoin and improve its censorship resistance and privacy features.
Developers interested in participating in the program can submit their applications until August 25th. If selected, developers will receive monthly grant payments in Bitcoin, USD Coin, or Tether, with grants ranging from $50,000 to $150,000 per developer. The grants are set to be awarded in either the third or fourth quarter of 2024, following an interview with either Arthur Hayes or Jonathan Bier.
This announcement comes on the heels of BitMEX’s recent legal troubles, where the company pleaded guilty to violating the Bank Secrecy Act. Despite this, Hayes remains committed to supporting the development of Bitcoin and providing opportunities for developers to contribute to the network’s growth.
The Bitcoin Grant Program represents a unique opportunity for developers to receive financial support and guidance from industry experts like Arthur Hayes. By investing in the future of Bitcoin, Hayes hopes to foster innovation and ensure the network’s continued success in the years to come. With the deadline for applications fast approaching, developers are encouraged to submit their proposals and take advantage of this exciting opportunity to make a meaningful impact on the world of cryptocurrency.