BitMine, Joe Lubin, and others support the non-profit organization Ethlabs, established to promote the next phase of Ethereum's growth

BlockBeats News, June 23 — Several former Ethereum Foundation researchers have established a non-profit organization called Ethlabs, aimed at driving Ethereum into the next phase of growth and preparing for institutional adoption. The organization is supported by Ethereum co-founder Joe Lubin, as well as two major ETH treasury companies, BitMine and SharpLink. Ethlabs states that as stablecoins, tokenized RWA, funds, and autonomous AI business on-chain grow, these demands are converging on Ethereum. Ethlabs’ goal is to ensure Ethereum can scale to meet these related needs, promote faster Ethereum development and trustworthy interoperability, enabling institutions built on Ethereum to achieve neutrality, resilience, privacy, and security.

Ethlabs was co-founded by five former senior researchers of the Ethereum Foundation, who have participated in multiple key Ethereum upgrades over the past decade. Ethlabs’ initial work will focus on the content needed for large-scale institutional on-chain adoption. The launch of Ethlabs comes amid recent criticism of the Ethereum Foundation. The Foundation has long served as a major supporter and research coordinator for Ethereum, but recently several key members have left, including two co-executive directors and the leadership of the main Protocol Cluster.

Joe Lubin stated that Ethereum is entering the next stage of evolution, where multiple Ethereum management nodes configured in different ways should emerge to promote and protect the network’s core values. Tom Lee, Chairman of BitMine, said that Ethereum is expected to see significant growth in institutional and AI agent adoption, and the ecosystem needs to substantially increase investment in talent and research.