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MetaMask Spins Off as Independent Entity, Consensys Focuses on Institutional Protocols and Ethereum Software

OdailyOdaily

Odaily News: Ethereum software company Consensys announced that it will spin off its flagship wallet MetaMask into an independent entity, with founder Joe Lubin serving as CEO. The original Consensys will be renamed to a new entity focused on institutional protocols and Ethereum software, led by long-time executive Mike Kriak. Joe Lubin stated that the spin-off is due to the value accumulation of MetaMask's consumer business far outpacing other business units. MetaMask has expanded from an Ethereum wallet to a platform supporting multiple assets and Mastercard debit card spending, and has launched businesses such as perpetual contracts and prediction markets.

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