Ethereum Foundation privacy team spins out as for-profit EthSystems to serve institutions with Lubin, Bitmine backing

The Ethereum Foundation's privacy team has launched a new for-profit venture called EthSystems, backed by former CEO Joseph Lubin and Bitmine, to offer technology and consulting services aimed at helping institutions use Ethereum while ensuring their data remains confidential. This move underscores the growing demand for privacy solutions in the blockchain space, especially as institutions become more involved with decentralized platforms. By creating specialized tools and services, EthSystems aims to address a critical need for secure, private operations on Ethereum, potentially paving the way for broader institutional adoption.