ConsenSys, Behind MetaMask, Allegedly Struggles Financially - COINTURK NEWS
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ConsenSys, Behind MetaMask, Allegedly Struggles Financially

2:49 pm (66 days ago)
July 17, 2023

The claims that ConsenSys, the Ethereum application production studio behind MetaMask, is in need of money and is in talks with investors have led to allegations that the crypto giant is in a difficult situation and on the brink of bankruptcy.

“We Don’t Need Money” Statement in Response to Allegations

The claims that ConsenSys, led by Joseph Lubin, one of the founders of Ethereum, has been in talks with investors for a potential capital injection have caused quite a stir.

According to four sources close to the matter, the giant blockchain company has allegedly been in discussions with multiple investors to secure investments in recent weeks. In response to the allegations, the company stated that they do not need money and are not actively seeking investments.

A ConsenSys spokesperson stated that while the company sometimes takes investor interest into consideration, they still have plenty of cash on hand and are not actively seeking investments. The spokesperson added, “Consensys was seen as a bigger winner after the ecosystem collapses and company bankruptcies in 2022. As a result, the company received significant investor interest partly due to false reports about secondary market activity in our stock earlier this year.”

The spokesperson emphasized that the transactions conducted in the secondary markets represent a small portion of ConsenSys shares.

ConsenSys was among the companies that offered shares at a high discount alongside leading companies in the crypto world such as OpenSea,, Alchemy, Blockdaemon, and Kraken in March. The company’s shares were sold with a discount of up to 71%.

Valued at $7 Billion in the Last Investment Round

ConsenSys last embarked on an investment round in the beginning of 2022, a Series D round worth $450 million led by ParaFi Capital, where the company was valued at $7 billion. Major investors such as SoftBank Vision Fund 2, Temasek, and Microsoft also participated in the investment round.

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