Ethereum · BitMine Immersion Technologies · Cointelegraph
Bitmine, Sharplink and Joe Lubin back Ethereum R&D nonprofit
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Sharplink says the new nonprofit, Ethlabs, “exists to ensure the network is ready to absorb” the demand that institutions will place on it with stablecoins, tokenization and AI.
Key facts
- Ether is trading 65% down from its peak at around $1,700, levels last seen in October 2023 and April 2025, as sentiment remains at crypto winter lows
- In May, Ethereum co-founder Vitalik Buterin said the Ethereum Foundation’s resources were limited, noting that the organization only held about 0.16% of the total supply of Ether (ETH)
- Ethlabs was co-founded by five former senior Ethereum Foundation researchers: Ansgar Dietrichs, Barnabé Monnot, Caspar Schwarz-Schilling, Josh Rudolf and Julian Ma
- The launch comes days after former Ethereum Foundation contributor Trenton Van Epps warned that Ethereum is facing a core development funding crisis and amid an ongoing wave of departures
Summary
Former Ethereum Foundation contributors and Ether treasury firms Bitmine and Sharplink have backed a new research and development nonprofit that aims to make Ethereum ready for institutional use. Sharplink said on Monday that the organization, Ethlabs, was formed to “ready Ethereum for the next phase of institutional adoption,” with the company pitching in with Bitmine, Ethereum co-founder Joe Lubin and other Ethereum contributors on its funding effort. “As stablecoins, tokenized real-world assets, funds and autonomous AI commerce move on-chain, they are converging on Ethereum as the neutral, credibly permissionless settlement layer for the global economy,” Sharplink said.