1. **Wormhole Launches Foundation**: Wormhole, a cross-chain protocol, has introduced the Wormhole Foundation, which is headed by Robinson Burkey and Dan Reecer.
2. **Ecosystem Development**: The foundation's primary objective is to facilitate the growth of secure, open-source, and decentralized tools within the Wormhole ecosystem.
3. **Innovation Promotion**: Through its xGrants initiative, the foundation seeks to promote innovation by providing resources to creators working on projects that align with Wormhole's goals.
4. **Support for Startups**: With a substantial fund of $50 million, the Wormhole Foundation aims to nurture the emergence of new cross-chain startups, thereby fostering the evolution of the broader cross-chain landscape.
5. **Future Focus**: By establishing the foundation and offering financial backing, Wormhole demonstrates its commitment to advancing cross-chain technology and empowering the next generation of developers and entrepreneurs in this field.
