MetaMask

And so I'm hoping that every now obviously self custody is having a little bit of a moment, you know, in the industry, but the more we can work to make that actually like a real easy to use tool, the better.

Think about MetaMask and Fantom,

the

own experience from a user perspective.

I don't even care about Ethereum, Solana.

They just take everything away.

I mean, Fantom has gone miles ahead of MetaMask.

And I think what you guys have done in Cake, you've managed to take away the KYC part, which is absolute, for me, it's number one barrier.

Payward pushed its own listing back to 2027 only nine days ago, so a stock exchange has now bought into the firm that wants to trade its listings around the clock.

Consensus also split into two while we were away, with Metamask becoming a standalone company under Joe Lubin and the infrastructure business keeping the Consensus name.

Tether moved into private credit, anchoring a $400 million fund with Fensara Capital and targeting $3 billion.

And Germany drafted a bill to tax crypto, like shares, at about 26.4% from 2027, ending its tax-free 12-month rule, though existing holdings are grandfathered.

Everything in crypto.

Buying Bitcoin, ETH, MetaMask is hard.

Ravi's slightly easier, but still pretty hard.

Getting into our Web3 gaming space, extremely hard.

Some of the crypto headlines here.

Consensus is splitting into two companies with the existing company rebranding as MetaMask under Joe Lubin and a new consensus taking linea in the institutional infrastructure side by the end of this year.

So that was big news.

NASDAQ investing $100 million in Kraken's parent payroll at a $21 billion valuation.

We'll go to you guys in a few minutes.

But Ty, in the meantime, what are some of the top headlines you may have missed?

I mean, let's talk the MetaMask consensus one a bit because this was a pretty big story.

So consensus is splitting into two companies.

This is a substantial restructuring.

The consumer-facing business will become MetaMask, positioned as an Ethereum-first self-custodial consumer finance company.

The wallet has surpassed 100 million downloads across roughly 190 countries and has facilitated trillions of dollars in cumulative transaction volume.

And MetaMask isn't just staying as a wallet, correct?

That's right.

MetaMask plans to expand beyond custody into consumer finance products.

This includes a money account, which is a self-custodial account combining automated earning, instant spending and one-click trading.

They're also launching a MasterCard-linked card and their own dollar stablecoin called MUSD, which will be issued via a stripe-owned bridge.

That's typically the case I use the public chain.

Previously, when there were maybe more builders building on that chain for some DeFi apps, there might be cases that I input my MetaMask data or use the public chain for, again, FI Social, FI projects, but we don't use that anymore.

As an industry, we don't use them anymore.

So it's important for each public chain to have their very strong product market fit.