Woofun AI reports that the Ethereum Foundation’s privacy team has separated to establish EthSystems, a for-profit entity focused on building confidential systems for institutions. Supported by co-founder Joe Lubin, Bitmine, and SharpLink, the firm is led by former EF employees Mo Jalil, Oskar Thorén, and Aaryamann Challani. The founders stated their model involves providing customized consulting to address complex adoption challenges, effectively monetizing previous non-profit work.