Arthur Hayes Launches Bitcoin Grant Program to Enhance Network\'s \'Resilience, Scalability, and Privacy Characteristics\'

The former chief executive of BitMEX Arthur Hayes is launching a new grant program for developers to enhance Bitcoin's "resilience, scalability, and privacy characteristics."

A new grant program has been launched by Arthur Hayes, former chief executive of BitMex, to support developers working on enhancing Bitcoin's scalability, privacy, and resilience.

The program, which is backed by Hayes' Maelstrom fund, will provide grants to developers for a 12-month period, with payments being made monthly in Bitcoin, USD Coin, or Tether. The grants will range from a minimum of $50,000 to a maximum of $150,000 per developer.

Applications for the program are open until August 25, and grants are expected to be awarded in Q3 or Q4 2024. Candidates will be required to undergo at least one interview with either Hayes or Jonathan Bier before receiving a grant.

The announcement of the grant program comes less than a week after BitMex pleaded guilty to violating the Bank Secrecy Act. According to Attorney Damian Williams, BitMex intentionally failed to "establish, implement, and maintain an adequate anti-money laundering program."

Hayes, along with his colleagues Samuel Reed, Benjamin Delo, and Gregory Dwyer, had also pleaded guilty to a similar charge a few years ago.

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