Ethereum co-founder discusses Ethereum infrastructure with major sovereign wealth funds

Joe Lubin, Ethereum (ETH) co-founder and CEO of Consensys, said on June 2 that his firm is in talks with major sovereign wealth funds and banks from a large, unnamed country about developing infrastructure on the Ethereum network, according to Decrypt. The discussions center on using Ethereum’s layer-1 as a foundation, along with building custom layer-2 solutions. Lubin warned that the traditional financial system is on the verge of collapse, pointing to structural issues, unchecked financial expansion and the decline of the U.S. middle class. He believes decentralized protocols like Ethereum are essential to creating a new global financial system. Describing Ethereum as the “middle child” of crypto, Lubin noted that while Bitcoin (BTC) and Solana (SOL) have clearer narratives, Ethereum is quietly focused on long-term infrastructure—work that may be underappreciated now but is vital for the future.