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CoinDesk update, Wu said he has learned, institution-grade Ethereum privacy technology company ethsystems has officially announced its launch, supported by initial funding from 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 from the Ethereum Foundation and will develop privacy and compliance systems for regulated institutions such as banks and asset management companies. This will enable them to conduct transactions on the Ethereum network while protecting sensitive information such as transaction details and customer identities.