DeFi
Joe Lubin hints that MetaMask developer Consensys will go public – DL News
- The Ethereum co-founder told DL News that Consensys wants to use native cryptographic methods to leverage public investments.
- Consensys is looking for acquisitions, Lubin says.
- His comments are the latest sign that the market is ready to make deals.
The crypto market is in a bullish period.
Bitcoin and Ether are becoming widespread. And the industry has weathered a punishing bear market.
Is the stage finally set for Consensys, one of the most influential technology companies in the cryptocurrency sector, to go public?
Maybe, said Joe Lubin, founder and CEO of the company that runs, among other things, the popular MetaMask wallet.
“We’ve been talking about this for a long time,” said Lubin, co-founder of Ethereum. DL News at the DappCon crypto conference in Berlin.
“And there are different ways to make our ecosystem public,” he continued. “You can launch a protocol, you can tokenize a protocol, you can outsource a project.”
Airdrops
In the crypto world, many consider tokenization or project airdrop – where a token is created and distributed to its most loyal users – to be akin to an initial public offering.
For years, there have been hints of a MetaMask airdrop. With over 30 million usersthe distribution of a MetaMask token would cause a sensation.
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“If we make it public in any way, we’ve always tended to use our own technology.”
—Joe Lubin, Consensys
So what method could Consensys, a company focused on blockchain and web3 software development, use?
Lubin kept his cards close to his chest, but he said Consensys could create MetaMask or other units, such as toolkit developer Infura or Linea, a layer 2 blockchain network.
“We’ve created over 40,” he said while wearing an Ethereum t-shirt. “Some of them, like Gnosis, are very successful.”
Lubin was referring to the sprawling suite of crypto projects that Consensys has spawned over the years. Gnosis is a group of crypto projects that include the Gnosis Chain network and the Gnosis Pay payment network.
Lubin offered further indications that something was in the works. He said Consensys was working with auditing firm KPMG, but declined to provide details.
Nonetheless, he made it clear that Consensys would opt for the blockchain route to going public rather than listing the shares on Nasdaq or another exchange.
“If we make it public in some way, we’ve always tended to use our own technology to do something,” Lubin said.
“This does not mean that we would want to move away from the US financial markets, which are deep and liquid,” he continued. “But there might be ways to make our own technology public while still making it accessible.”
Bargain hunting
Lubin, who got a taste of Wall Street as a technology executive at Goldman Sachs’ private wealth management unit in the early 2000s, is also considering acquisitions.
“The board just approved something,” he said. “We are very active.”
Besides hinting that it was a cybersecurity company, he remained coy on the details.
Lubin said Consensys has a record of acquisitions, intellectual property purchasesAnd acquires — agreements intended to absorb staff.
“All I can say is that the biggest priority for us is the security we provide to our end users,” he said.
It’s no wonder: MetaMask must be a tempting target for bad actors.
“Essentially, you can think of our ecosystem as being filled with certain types of predators,” Lubin said.
Liam Kelly is a DeFi correspondent at DL News. Do you have any advice? Email to liam@dlnews.com.