Joseph Lubin

Former Ethereum Foundation institutional privacy researchers have launched EthSystems, a for-profit company focused on confidentiality tools for banks and other financial institutions using Ethereum. The move comes as Ethereum’s ecosystem redistributes key responsibilities through new independent organizations amid rising institutional interest in public blockchain infrastructure.

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.