Odaily Planet Daily reports that ConsenSys, the Ethereum software company, has announced the spin-off of its flagship wallet, MetaMask, into an independent entity, with founder Joe Lubin serving as CEO. The original ConsenSys will be renamed and refocused as a new entity dedicated to institutional protocols and Ethereum software, led by long-time executive Mike Kriak. Joe Lubin stated that the spin-off was driven by the rapid accumulation of value in MetaMask’s consumer business, which has far outpaced other business units. MetaMask has evolved from an Ethereum wallet into a platform supporting multiple assets and Mastercard debit card spending, and has also launched services such as perpetual contracts and prediction markets.
MetaMask Spun Off as Independent Entity; ConsenSys Focuses on Institutional Protocols and Ethereum Software
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Summary
Ethereum news broke on Tuesday as ConsenSys announced that MetaMask will become an independent company, led by founder Joe Lubin. The rebranded ConsenSys now focuses on institutional protocols and Ethereum software under Mike Kriak. MetaMask has expanded beyond a wallet to support multiple assets, Mastercard spending, and DeFi services. Ethereum’s price today remains a key metric for traders monitoring the broader market’s reaction to the shift.
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