Consensys Splits into Two Companies, MetaMask Takes Consumer Mandate
Consensys Software Inc., a leading blockchain infrastructure company, announced on September 9 that it will split into two independently operated companies. The existing Consensys entity will become MetaMask, focusing on consumer self-custodial finance, while the new Consensys company will house Linea and institutional infrastructure businesses.
The separation is expected to be completed by the end of 2026, with Joe Lubin, Consensys' founder, serving as chairman and chief executive of MetaMask and executive chairman of the new Consensys. Mike Kriak will become Consensys' chief executive, with David Cunningham as its president.
Lubin stated that MetaMask's consumer operation has been accruing value faster than Consensys' other business units, motivating the separation. This move is seen as a strategic decision to allow both companies to focus on their respective areas of expertise and grow independently.