Former Ethereum Foundation researchers launch Ethlabs with support from Joe Lubin and public ETH treasury firms

A non-profit research and development organization called Ethlabs, founded by former Ethereum Foundation researchers, has announced its mission to make the Ethereum network and ETH more suitable for enterprise adoption. The initiative is backed financially by Ethereum co-founder Joe Lubin and two public companies, BitMine Immersion Technologies and SharpLink, both of which hold Ethereum on their balance sheets.Targeting enterprise-level on-chain adoptionOrganization launched after Ethereum Foundation departuresETH price movement remains muted Targeting enterprise-level on-chain adoptionEthlabs plans to focus initially on facilitating large-scale on-chain operations for institutional players. According to the organization, its founding researchers have previously worked on areas such as finality, scalability, and protocol economics. Ethlabs aims to translate the needs of both developers and end-users in the field into technical standards and products that can serve the broader Ethereum ecosystem.Ethlabs Executive Director and co-founder Ansgar Dietrichs described this as a pivotal period for Ethereum. He highlighted the start of broader adoption and the migration of the global economy onto the blockchain, emphasizing their goal to contribute to Ethereum’s potential as a universal settlement layer.The organization has clarified that its financial backers will not have influence over its research agenda. Ethlabs defines its mission as helping Ethereum become the consensus layer for the global economy.Glossary: The consensus layer refers to the foundational infrastructure where transactions are finalized and the network’s shared ledger is maintained. On-chain usage means carrying out transactions and application activities directly on the blockchain itself. Organization launched after Ethereum Foundation departuresThe launch of Ethlabs comes just a week after Hsiao Wei Wang, one of the Ethereum Foundation’s co-directors, stepped down from her position. This development is the latest in a string of high-profile departures from the foundation, which plays a central role in guiding the Ethereum network’s development.The long-term vision and governance of the foundation has been a subject of ongoing debate within the Ethereum community. Last month, Ethereum researcher Dankrad Feist resigned from the foundation to join Stripe’s stablecoin initiative, Tempo, arguing that a new group more closely aligned with ETH’s and the network’s economic interests could provide greater value to Ethereum.Lee noted that they see strong growth potential in Ethereum adoption by both enterprises and AI agents, and argued that the ecosystem needs to significantly increase its investment in talent and research to keep pace.ETH price movement remains mutedDespite the news, the price reaction for Ethereum was limited. Over the past 24 hours, ETH edged up by just 0.1% to approximately $1,732. Nevertheless, the asset has dropped more than 16% over the past month and remains about 65% below its all-time high of $4,946.IndicatorDataLast 24 hours0.1% increaseCurrent price$1,732Last 1 monthOver 16% declineFrom all-time high65% belowJoe Lubin stands out as one of the most prominent figures in the Ethereum ecosystem, having been a co-founder from its inception. BitMine Immersion Technologies and SharpLink are public companies known to hold significant amounts of ETH on their books. However, the announcement did not disclose the exact size of Ethlabs’ funding round.A representative of Ethlabs had not responded to a request for comment at the time of publication. Still, the new organization’s structure is seen as an attempt to build a bridge between Ethereum’s technical development and its aspirations for greater corporate adoption.Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.