Stacks United Creation: A new entity, Bitcoin L2 Labs, has been established and received 20 million dollars in funding support
On November 8, Muneeb Ali, co-founder of the Bitcoin Layer2 network Stacks, announced the establishment of a new entity called Bitcoin L2 Labs. The company has received $20 million in funding to focus on core technology development. Former Algorand Labs member Adriano DiLuzio will serve as Chief Technology Officer, leading the development work for Stacks core and SBTC.
According to the official website of Bitcoin L2 Labs, in addition to $20 million in funding support, this entity will also receive assistance from the Stacks Foundation and collaborate with various working groups. Bitcoin L2 Labs plans to adopt a product-driven approach to accelerate the rollout of key ecosystem features and regularly update progress on core developments.
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