Consensys directly split the business up: the old entity changed its name to MetaMask, focusing specifically on consumer self-custody wallets. The rest of the protocol business was packed into a new company that continues to be called Consensys. In plain terms, it’s splitting the books—wallet traffic and the underlying protocol—so going forward fundraising, compliance, and going public will each follow their own path without dragging each other down.
This is also a warning to the whole industry: wallets are wallets, infrastructure is infrastructure—the era of mixing them together to tell the story is over. After MetaMask becomes independent, it should be able to move faster. In the near term, Layer 2 and payments are likely tailwinds; in the long run, it’ll come down to which company’s products can generate their own cash flow and survive.
$ETH $LINK #Consensys
This is also a warning to the whole industry: wallets are wallets, infrastructure is infrastructure—the era of mixing them together to tell the story is over. After MetaMask becomes independent, it should be able to move faster. In the near term, Layer 2 and payments are likely tailwinds; in the long run, it’ll come down to which company’s products can generate their own cash flow and survive.
$ETH $LINK #Consensys
