ConsenSys buys the operator of the Ethereum wallet MyCrypto

ConsenSys has acquired the operator of the Ethereum wallet MyCrypto. The team behind it will join the work on developing MetaMask, said the company’s founder Joseph Lubin.

We are very excited to bring the @MyCrypto team to @MetaMask! The two teams have been friends and Ethereum colleagues with shared values since 2016.

Together we will continue to build increasingly user-centric, extensible, and decentralized products.https://t.co/A7y8pkrg7f

— Joseph Lubin (@ethereumJoseph) February 1, 2022

“We are very excited to invite the MyCrypto team to MetaMask. They have been friends and Ethereum colleagues, sharing common values since 2016. Together we will continue to build increasingly user-centric, extensible, and decentralised products,” wrote Lubin.

The parties did not disclose the financial terms of the deal. The MyCrypto wallet team, consisting of 12 people, will join ConsenSys. Founder Taylor Monahan will lead MetaMask jointly with its co-founders Dan Finlay and Aaron Davis.

According to the press release, in the near term the MyCrypto developers will not abandon support for their product — it will continue to exist independent of MetaMask. However the eventual aim is “the unification of functions and brands”.

Earlier The Block reported that ConsenSys is preparing for an investment round that would value it at $7 billion. The publication’s sources said the company is in talks with potential investors — funding of about $300 million is being discussed.

Back in November 2021, ConsenSys closed an investment round of $200 million. The company was valued at $3.2 billion.

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