Team Behind Ethereum's Institutional Privacy Push Spins Out For-Profit Firm EthSystems

Here is the latest from the digital-asset markets: In brief EthSystems launched Tuesday to build "confidential systems for institutional Ethereum," founded by the team that ran the Ethereum Foundation's Institutional Privacy Task Force. It is the third organization to spin out of the Foundation this summer, and the first for-profit one, backed by Ethereum treasury firms Bitmine and Sharplink and co-founder Joe Lubin.

The firm argues that institutions won't move stablecoins, tokenized assets, and settlement onto a public ledger until they can hide trade details, positions, and client identities.

Crypto markets are watching this development closely as investors weigh its potential impact on prices.