BitMine, Sharplink, Consensys Founder Joseph Lubin Launch New ETH Venture

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BitMine, Sharplink, Consensys Founder Joseph Lubin Launch New ETH Venture


Key Highlights

  • Ethlabs launches as a new Ethereum-focused nonprofit backed by Joseph Lubin, BitMine, SharpLink, SNZ, and over 50 ecosystem leaders.
  • Founded by former Ethereum Foundation researchers including Barnabé Monnot, and Julianne, Ethlabs aims to accelerate Ethereum adoption.
  • The launch has sparked debate over whether Ethlabs could become a more execution-focused counterpart to the Ethereum Foundation.

In a major ETH ecosystem update, a new Ethereum-focused nonprofit, Ethlabs, has launched with support from some of the ecosystem’s most influential stakeholders.

These include ETH treasury firms BitMine and SharpLink, Ethereum co-founder Joseph Lubin, venture investor SNZ. The launching founders also include more than 50 researchers, developers, founders and institutional advocates from across the Ethereum ecosystem.

Describing itself as a nonprofit research and development lab for Ethereum and ETH, Ethlabs says its mission is to help transform Ethereum into “the settlement layer of the global economy.”

The organization arrives at a time when Ethereum as a network is increasingly  growing. It’s among the leading blockchains being used for  stablecoins, defi, tokenized real-world assets and equities.

SharpLink described Ethlabs as an independent organization that will help prepare Ethereum for its next phase of institutional adoption. In its launch announcement, it said it will continue to advance the protocol’s long-term development.

What Is the new Ethereum Ventue Ethlabs?

EthLabs is an entity aiming Ethlabs positions itself as a bridge between protocol development and real-world adoption. It is unlike the Ethereum Foundation, which primarily focuses on protocol stewardship and core research,

The organization says it will work with users, wallets, Layer-2 networks, infrastructure providers, institutions, application developers, ETH holders and researchers. It will help them identify ecosystem needs and translate them into protocol improvements, standards, infrastructure and products.

One of the Product Head of Ethlabs Julia wrote in a X post, “At Ethlabs, I will focus on growth by Supporting Ethereum’s builders, Improving infra and standards for devs, builders, and institutions and Increasing distribution for Ethereum’s apps and assets.”

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Ethlabs added that it intends to contribute to critical Ethereum research and development. The venture’s team of researcher and developers will also be building infrastructure and products where the ecosystem needs them most.

The launch comes at a critical time for Ethereum. Ethereum price has down by 5% from $1,870 to currently trade at $1732 range this week, down by 5%. Analysts also believe that the current Ethereum price is overvalued. Meanwhile, ETH treasuries such as Bitmine is continuing to expand beyond just accumulate but to build around Ethereum ecosystem.

Who are the Founders of ETHLabs

One of the most notable aspects of the launch is the breadth of support behind the organization. Its anchor backers include BitMine, SharpLink, Joseph Lubin.

Additional contributors and supporters include organizations and ecosystem leaders associated with Ethereum Foundation. For instance, Barnabé Monnot, who previously co-led Ethereum protocol development, and former Ethereum Foundation researcher and product lead Jullian.

Other community founders include EigenLayer, Flashbots, Coinbase, Optimism, Polygon, ZKsync, EtherFi, Dragonfly, ENS, Etherealize and several other major Ethereum projects.

The coalition spans virtually every corner of the Ethereum ecosystem. From core protocol researchers and Layer-2 developers to institutional advocates, venture investors and treasury companies.

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Does this make it the alternative to Ethereum Foundation?

The launch has also sparked debate within parts of the Ethereum community. Because Ethlabs is being led by former Ethereum Foundation veterans, some observers have questioned whether the organization could evolve into a more execution-focused counterpart to the Ethereum Foundation.

The discussion has been particularly pronounced as Ethlabs openly advocates for both Ethereum and ETH, a departure from the Ethereum Foundation’s traditionally neutral stance toward the asset itself.

Some community members have suggested the nonprofit could provide a more agile vehicle for ecosystem growth, adoption, and product development. Others have framed it as a potential alternative center of influence within Ethereum’s increasingly multi-institutional ecosystem.

Adding to the conversation, one of Kalshi’s Product leader remarked that Ethlabs could represent a model that “just won’t dump gajillions of ETH every quarter for every reason”. He was referencing to long-running community criticism of the Ethereum Foundation’s periodic ETH sales which ETH Foundation Head James Smith said in a podcast, “is a way to fund operations.”

While Ethlabs has not positioned itself as a replacement for the Ethereum Foundation, the emergence of a well-funded organization backed by major ETH stakeholders could be  a debate that can continue.

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