Ethereum Foundation Privacy Team Spins Out as For-Profit EthSystems, Backed by Lubin, Bitmine, SharpLink on Tuesday

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According to The Block, on Tuesday, the Ethereum Foundation's privacy team spun out EthSystems, a for-profit entity aimed at building confidential systems for institutional Ethereum users. The company is backed by Consensys CEO Joe Lubin, Ethereum treasury giants Bitmine and SharpLink, and counts former EF employees Mo Jalil, Oskar Thorén, and Aaryamann Challani as co-founders. The three previously led the EF's Institutional Privacy Task Force and will now offer bespoke consulting to help banks, asset managers, and regulated institutions conduct large-scale financial activity on Ethereum while preserving transaction confidentiality.
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