Ethlabs' sponsor admits that they will compete with the Ethereum Foundation for talent, as their roadmaps have begun to overlap
By: rootdata|2026/06/26 04:45:09
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The new research lab Ethlabs was launched this week, co-funded by Ethereum co-founder Joe Lubin, Bitmine Immersion Technologies holding approximately 5.7 million ETH, and Sharplink holding approximately 876,000 ETH, with the specific funding amount undisclosed.
Sharplink CEO Joseph Chalom stated that Ethlabs will complement the Ethereum Foundation, but acknowledged that the two will "overlap in certain areas," and that "the most concentrated talent" will be at Ethlabs. The lab focuses on faster settlement, cross-chain interoperability, and readiness for institutional and AI applications, which highly overlaps with the priorities of the Foundation after its reorganization this week.
This move comes as the Ethereum Foundation cut about 40% of its 2026 budget and eliminated 54 positions this week, with Vitalik Buterin defining it as a shift towards a donation fund model. Former Foundation core development coordinator Trent Van Epps warned last week that core development faces a funding gap in three to nine months. Ethlabs' first real test will be the Glamsterdam upgrade, where the roadmaps of the two organizations will intersect for the first time in a limited upgrade queue.
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