Foresight News reports that Muneeb Ali, co-founder of the Bitcoin Layer2 network Stacks, stated, "We have established a new Stacks entity, Bitcoin L2 Labs, which has secured $20 million in funding to focus on core development. Adriano DiLuzio (formerly a member of Algorand Labs) will serve as Chief Technology Officer and lead the development of Stacks core and SBTC."
Bitcoin L2 Labs will form a dedicated team to accelerate the development of Stacks, with major initiatives on the roadmap including speeding up sBTC development, launching the 'Orange Hat' program to support ecosystem security, and implementing improvements for more efficient and transparent core development.
