BitMine Immersion Technologies · Wall Street · Ethereum · Decrypt
BitMine, Sharplink and Joe Lubin Accelerate Wall Street Ethereum Push With Nonprofit Launch
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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.
Key facts
- 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
- The organization said it will build on institutional engagement efforts previously led by the Ethereum Foundation, but will operate independently with funding from BitMine and SharpLink, Wall
- Ethereum co-founder Joe Lubin will also anchor the group’s funding, along with dozens of other individual and institutional contributors
- If these organizations see themselves as Ethereum’s future, the implication could be that the Ethereum Foundation is a remnant of the past
Summary
Ethereum Institutional, a new nonprofit, will help Wall Street firms adopt Ethereum-based infrastructure. The group follows last week's launch of Ethlabs, another Ethereum nonprofit backed by many of the same supporters. Both initiatives come as the Ethereum Foundation faces mounting criticism, leadership departures, and a major restructuring. Ethereum Institutional will serve as an independent point of contact for banks, asset managers, and other financial institutions seeking to get more involved with tokenization, stablecoins, and other on-chain financial infrastructure, according to an organization mission statement.