BitMEX Awards Grants to Two More Bitcoin Developers

The crypto exchange is now supporting six open-source developers in total.

AccessTimeIconSep 23, 2021 at 5:42 p.m. UTC
Updated May 11, 2023 at 6:31 p.m. UTC

Two Bitcoin developers – Chris Coverdale and Rene Pickhardt – have been selected to receive funding from BitMEX’s Open Source Developer Grant program.

  • Both Coverdale and Pickhardt will receive eight-month grants, with funding lasting until next May. The grants are worth $33,333 each.
  • BitMEX’s announcement of the grant awards describes its developer grant program as “interim funding” meant to help part-time developers make the transition out of employment or education into full-time development work.
  • BitMEX is one of several crypto companies, including Gemini, Marathon Digital Holdings, OKCoin and Square, to fund Bitcoin developers.
  • Coverdale’s work will focus on building an implementation of the Stratum V2 bitcoin mining pool protocol, which he has been working on since February.
  • Pickhardt, a former member of the German Pirate Party, will focus his development work on improving the Lightning Network, a layer 2 payment protocol built on top of Bitcoin.
  • With the addition of Coverdale and Pickhardt, BitMEX is now supporting six Bitcoin developers, including Michael Ford, Calvin Kim and Sjors Provoost. Over the past two years, BitMEX has handed out at total of $1.5 million in open-source development grants.


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Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings.

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