A new nonprofit aimed at onboarding Wall Street to Ethereum launched Wednesday, marking the second major Ethereum-focused initiative backed in recent weeks by network co-founder Joe Lubin alongside top treasury firms BitMine Immersion Technologies and SharpLink.
“Together, Ethlabs and Ethereum Institutional form complementary pillars of Ethereum’s next chapter,” entities involved in both endeavors said, “one advancing protocol-layer innovation and core infrastructure, the other ensuring institutions have a credible, dedicated counterpart to guide them from evaluation through deployment at scale.”
If these organizations see themselves as Ethereum’s future, the implication could be that the Ethereum Foundation is a remnant of the past. The longstanding nonprofit, which has quarterbacked the network’s technical development for years, has come under fire recently for failing to take proactive measures to bolster both ETH’s price and the network’s public image.
