Consensys Splits into Two: Institutional Blockchain Focus for New Entity
Consensys Software Inc. has undergone a significant restructuring, splitting into two separate companies: MetaMask and a restructured Consensys entity focused on institutional blockchain infrastructure.
The new Consensys will be led by Mike Kriak as CEO and David Cunningham as President, while Joe Lubin, the Ethereum co-founder, will serve as Executive Chairman of MetaMask.
At the heart of the restructured Consensys is Linea, a zero-knowledge Ethereum Virtual Machine (zkEVM) Layer 2 network that has been building credibility since its mainnet launch in July 2023.
Linea's involvement in SWIFT-related blockchain messaging tests and corporate treasury activity on the network have attracted attention from traditional finance circles. Major banks are using Linea to experiment with blockchain-based messaging infrastructure, while institutional yield strategies have deployed hundreds of millions in ETH on the network.