Fortune: Consensys Spins Off MetaMask as an Independent Entity, No Response Yet on IPO or Token Issuance Plans

Foresight News reports, according to Fortune magazine, Consensys has spun off its MetaMask wallet business into an independent company entity, focusing on the consumer-facing MetaMask platform. The company's founder, Joe Lubin, will serve as the CEO of this independent entity. The remaining business operations of the original company (including various institutional protocols and Ethereum software) will be merged into a newly established organization that retains the Consensys name, with senior executive Mike Kriak serving as CEO, while Lubin will act as Executive Chairman. Lubin stated that the spin-off was driven by the significantly faster growth rate of MetaMask's consumer business compared to the company's other business segments. Consensys had previously signaled plans to go public earlier this year, but those plans were shelved due to the sharp downturn in the crypto market. Lubin did not disclose a specific timeline for the IPO. Recently, MetaMask launched a "Master Account" feature, allowing users to hold multiple crypto and fiat assets under a single account and make purchases using a Mastercard-supported debit card. Additionally, it offers services such as perpetual futures and prediction markets. Lubin had previously hinted that MetaMask might issue its own token, but under the current commercial and regulatory environment, fewer companies are inclined to issue tokens.