BitMEX Operator HDR Global Provides Bitcoin Core Contributor Michael Ford A $60,000 Grant

BitMex owner and operator has awarded $60,000 grant to a Bitcoin Core developer Michael Ford, aka “fanquake” on Github.

In an official company’s blog produced on July 12, BitMex owner as well as HDR Global Trading announced they were happy to provide the grant to Ford. The company also noted that Ford has been an integral Bitcoin contributor dating back to 2012 has just recently been included in the latest official maintainer of the Bitcoin Core software project.

This signifies that the developer’s key has been included to the “trusted keys list” file within GitHub which allows him to have the capacity to merge in alterations in the Bitcoin Core codebase.

HDR Global Trading said that the grant was a way of providing material support to those that work on a voluntary basis to enhance the development of the cryptocurrency.

The CTO of HDR Global Trading and co-founder of BitMEX, Sam Reed, said that the work of coders is difficult, demanding, and often thankless and his company believes that it is the responsibility of companies to support the projects from which they benefit and from which their business model are based. He said:

“HDR Global Trading Limited, like all other companies in the cryptocurrency space, relies heavily on the (mostly-volunteer) work of coders dedicated to the mission and ideals of Bitcoin.”

According to the post, the grant is non exclusive and Ford will be required to work on Bitcoin core as a core software maintainer. Reed said he expected Ford to further enhance the network’s robustness, scalability and anonymity.

The post indicates that the grant was provided on a “no-strings-attached” modality saying that Ford will not be required to contribute anything to BitMex.

BitMex notes that it is through the crucial work done by numerous developers like Ford that various firms like BitMex and others can claim their success:

“Without the millions of free man-hours from dedicated OSS developers powering everything from our operating systems, to our web servers, to our ops tools and Bitcoin itself, the BitMEX trading platform could not have been built.”

HDR Global Trading said it was happy to be the first company to appreciate the work done by Michael Ford by supporting him financially.

In the recent past, HDR Global Trading has offered unconditional donation to MIT Digital Currency program that specializes on research into the creation of a crypto ecosystem in the world. The firm noted at the time that it was focused on helping the contributions by Bitcoin Core developers Wladimir van der Laan and Cory Fields.

Late last month, BitMex which is the largest Bitcoin derivatives provider, posted record volumes in its operations as Bitcoin’s price roared past $13, 000. The platform recorded $1 billion of open interest in the market, as well as more than $16 billion across the BitMex’s full product range.

Should other crypto-based firms give back to developers? Share your thoughts with us in the comments section.

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