Consensys Splits MetaMask into an Independent Entity; No IPO or Token Plans Disclosed

ME News reports that on September 9 (UTC+8), Consensys spun off its MetaMask wallet business into an independent corporate entity focused exclusively on the consumer-facing MetaMask platform, with company founder Joe Lubin appointed as CEO of the new entity. The remaining operations of the original company—including institutional protocols and Ethereum software—will be consolidated into a newly established entity that retains the Consensys name, led by senior executive Mike Kriak as CEO, while Lubin serves as Executive Chairman. Lubin stated that the split was driven by the significantly faster growth in value of MetaMask’s consumer business compared to other divisions within the company. Consensys had previously signaled plans for an IPO earlier this year, but those plans were put on hold due to a sharp downturn in the crypto market; Lubin did not disclose a specific timeline for an IPO. MetaMask recently launched its “Master Account” feature, enabling users to hold multiple crypto and fiat assets within a single account and spend via a debit card powered by Mastercard, alongside offering perpetual futures and prediction markets. Lubin had previously hinted that MetaMask might issue its own token, but under current commercial and regulatory conditions, fewer companies are inclined to do so. (Source: Foresight News)