Ethereum Foundation Privacy Team Launches EthSystems With Support From Joe Lubin, Bitmine

According to Odaily and The Block, the Ethereum Foundation's privacy team has spun out a new for-profit company called EthSystems, backed by Ethereum co-founder Joe Lubin, treasury firm Bitmine, and SharpLink. Co-founders Mo Jalil, Oskar Thorén, and Aaryamann Challani, all former EF staff who led the foundation's institutional privacy initiative, said the company will provide custom consulting services to help institutions adopt Ethereum's confidential systems.

"Our business model is straightforward: offer tailored consulting to solve the most difficult challenges institutions face in adopting Ethereum," the team said, adding the move essentially continues their previous work now on a fee-based basis.