- Former Ethereum Foundation contributors and firms Bitmine and Sharplink have funded a new nonprofit, Ethlabs, aimed at preparing Ethereum for institutional adoption.
- The launch coincides with warnings of a development funding crisis at the Ethereum Foundation, which has seen a wave of departures.
- Joe Lubin, an Ethereum co-founder, stated Ethlabs will provide a stable home for core technology research as the network faces increased demand from stablecoins and tokenized assets.
Former Ethereum Foundation contributors, alongside treasury firms Bitmine and Sharplink, backed a new research nonprofit called Ethlabs this week. This initiative, according to Sharplink, aims to ready Ethereum for an institutional “supercycle.” Ethlabs is specifically tasked with ensuring the network can scale to absorb demand from stablecoins and tokenized real-world assets.
Consequently, its founding team includes five former senior Ethereum Foundation researchers. Joe Lubin, an Ethereum co-founder and funder, said the organization will be instrumental for the next adoption wave.
However, this launch follows stark warnings about the Ethereum Foundation’s financial health. Former contributor Trenton Van Epps recently cautioned about a “slow-burning funding crisis” amid asset sales.
Meanwhile, educator David Hoffman suggested the Foundation is intentionally creating a vacuum for new structures like Ethlabs. Ether is currently trading around $1,700, down 65% from its peak.
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