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Consensys has announced the spin off of MetaMask into a separate entity, with Joe Lubin serving as CEO. The original Consensys has been renamed as a new entity focused on institutional protocols and Ethereum software, led by Mike Kriak. Joe Lubin stated that the spin off is due to MetaMask's consumer business accumulating value at a much faster rate than other business units. MetaMask has expanded into a platform similar to the encrypted version of a new bank, launching a main account function that supports multiple assets and Mastercard debit card consumption, and has diversified revenue sources such as perpetual contracts and predictive markets. (Source: Fortune Magazine)