Ethlabs

Ethereum entered a volatile week marked by the launch of EthLabs and layoffs at the Ethereum Foundation. The developments have intensified debate over the network's direction and long-term momentum.

The Ethereum Foundation is eliminating 54 positions, or about 20% of its workforce, after months of restructuring tied to a new mandate and treasury strategy. The move follows senior leadership departures and comes as ETH-backed initiatives push Ethereum development in new directions.

Five former Ethereum Foundation researchers have launched Ethlabs, an independent nonprofit aimed at supporting Ethereum development. The initiative is backed by SharpLink, Bitmine and Consensys CEO Joe Lubin, signaling a broader push beyond the Ethereum Foundation.