Ethereum app builder Consensys has delayed its potential IPO until fall
The MetaMask wallet builder had reportedly engaged bankers from JPMorgan and Goldman Sachs to lead the process.
What to know:
- Consensys has delayed its potential IPO, according to sources.
- The firm led by Joe Lubin had been aiming to file a draft S-1 with the Securities and Exchange Commission (SEC) around the end of February this year, one person said.
- In early 2022, Consensys raised a hefty $450 million Series D round, valuing the company at $7 billion.
Consensys had been aiming to file a draft S-1 registration statement with the Securities and Exchange Commission (SEC) around the end of February this year, according to a third person. A confidential filing is typically the first formal step in the IPO process.
Crypto markets turned sharply lower in February 2026 as investors pulled back from risk assets amid macroeconomic uncertainty, tariff concerns, slowing expectations for interest-rate cuts and heavy outflows from bitcoin exchange-traded funds (ETFs), triggering a wave of leveraged liquidations across digital assets. Against that backdrop, Consensys’ decision to delay its IPO plans was hardly surprising.
A spokeswoman for Consensys said: “As a matter of policy, we don’t comment on market speculation.”
Improved regulatory clarity in the U.S. prompted several crypto firms to outline plans for going public this year. But a prolonged market downturn has seen large companies such as exchange giant Kraken and crypto wallet maker Ledger pause their IPO plans.
