Joseph Lubin personally stepped in, and the former EF privacy team has come out to start a business—this setup is something else.

Wu has learned that institutional Ethereum privacy technology company EthSystems has officially announced its launch and received initial funding support from listed Ethereum treasury company BitMine, SharpLink, and Ethereum co-founder and Consensys founder Joseph Lubin, among others. EthSystems was founded by the former institutional privacy working group team of the Ethereum Foundation and will develop privacy and compliance systems for regulated entities such as banks and asset management companies, enabling them to carry out transactions on the Ethereum network while protecting sensitive information such as transaction details and customer identities.