Crypto Billionaire Arthur Hayes Launches Grant Program To Fund Bitcoin Core Devs
BitMEX co-founder and popular crypto trader Arthur Hayes is now funding Bitcoin Core development through a grant program at Maelstrom – his family office’s crypto investment firm.
The entrepreneur is widely known for his hyper-bullish essays and predictions on Bitcoin price appreciation, which focus on the devaluation of fiat currency as a catalyst for crypto adoption. Unlike other crypto projects, however, Maelstrom notes that Bitcoin never conducted a formal raise to fund its development.
“We are therefore keen to give back and donate to the Bitcoin technology, on which the crypto ecosystem depends,” wrote Maelstrom on its Bitcoin Grant Program page.
Announcing the @MaelstromFund #Bitcoin Developer Grant Program. As loyal followers of Lord Satoshi, we are doing our part to spread the word. Please apply on our website, link below, if you would like to submit a proposal.https://t.co/3xOdyrjTzS
— Arthur Hayes (@CryptoHayes) July 17, 2024
Bitcoin Core is the first and most widely implemented Bitcoin software client. It defines the parameters of the Bitcoin protocol and acts as a standard for the entire industry and network.
Since Bitcoin lacked an initial raise, VCs, a founding team, or even a known creator, the protocol has come to represent the ultimate beacon of decentralization and stability within the crypto ecosystem. That said, it’s also left the protocol much slower to adopt new technology, and bereft of funding for basic software maintenance.
Maelstrom’s grant program aims to spur technical development on Bitcoin, with a sharp focus on “resilience, scalability, censorship resistance, and privacy characteristics.”
Individual developers may receive between $50,000 and $150,000 in grants, sent out in twelve monthly payments
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