Introducing the Sei Development Foundation, a not-for-profit organization funded by the Sei Foundation, paving the way for a decentralized future in the US.
NEW YORK–(BUSINESS WIRE)–Sei Foundation, the independent organization dedicated to the governance of the Sei protocol, the most performant Layer-1 blockchain, today announces the funding of a US non-profit focused on the growth and awareness of the Sei protocol and other open source software initiatives, the Sei Development Foundation. This new US-based Foundation will offer builders and developers robust support and resources, fueling ecosystem growth and helping position the US as a global leader in crypto. Building on the recent positive momentum for the broader crypto industry in the US, the Sei Development Foundation will establish its headquarters in Manhattan to accelerate innovation and empower American builders.
While numerous international jurisdictions continue to actively court crypto builders and innovators, the US must work to regain its competitive edge in fostering innovation and attracting top talent. The timing is right to double down on building in America after several years of regulation by enforcement, uncertainty for builders and adversarial policy approaches. In alignment with its mission, the Sei Development Foundation will not only collaborate directly with builders and founders, but also seek to harness the growing optimism among US regulators and policymakers to help establish the country as a premier destination for crypto entrepreneurship. Establishing a US foundation and headquarters in New York cements the Sei ecosystem’s strong presence in America and further empowers a decentralized future.
“With growing adoption and continuing regulatory reform underway, and the deepest capital markets in the world, the US is on track to become a global crypto leader. We are excited to see Sei Development Foundation taking center stage amidst this new wave of onshoring and adoption in the US This is a significant milestone for Sei to continue shaping the decentralized future and driving technological advancement, by making digital assets less complex and more accessible to everyone here in the US,” shared Gerald Gallagher, General Counsel at Sei Labs, Board Member at the Sei Development Foundation.
“At the Sei Development Foundation, we are deeply committed to harnessing transformative technologies and nurturing innovation for the next generation of visionary entrepreneurs. By establishing a strong local presence, we can further this mission while reigniting hope and optimism for crypto founders across the nation,” said Justin Barlow, Executive Director at the Sei Development Foundation.
Doubling down on this US initiative, the Sei Foundation also recently launched Crypto in America, a new weekly podcast and newsletter of conversations with influential policymakers like SEC Commissioner Hester Peirce, and Executive Director of the President’s Council of Advisers on Digital Assets, Bo Hines.
About Sei:
Sei is a Layer 1 blockchain that combines the advantages of Ethereum and Solana: the dominant development standard of Ethereum with the performance of Solana. Sei launched its mainnet in 2023, and has since processed billions of transactions across more than 18 million wallets. Currently on Devnet, Sei’s V3 Giga update will make Sei 50x more performant than any existing EVM chain, serving as a groundbreaking new scaling approach for the Ethereum ecosystem. The team is backed by Multicoin, Jump, Coinbase Ventures, and many more.
To learn more about Sei, please visit https://www.seifdn.org.
About Sei Development Foundation:
Sei Development Foundation is an independent US non-profit dedicated to the advancement and adoption of open source, permissionless protocols like Sei – the fastest EVM Layer-1 blockchain built to support world-scale decentralized applications. Through education, funding, and ecosystem support, the Foundation collaborates with a global community of builders and users to promote and expand the benefits of Sei and related projects.
Contacts
Media Contact:
Jessica Graber
SCRIB3
jessica@scrib3.co
