Consensys Delays IPO Until Fall Due to Poor Market Conditions
Consensys, the Ethereum development firm behind MetaMask, has delayed its potential U.S. public offering until fall at the earliest due to poor market conditions, according to sources. The company had engaged JPMorgan and Goldman Sachs as bankers last year and aimed to file a draft S-1 with the SEC around end of February 2026. However, crypto markets turned sharply lower in February amid macroeconomic uncertainty, tariff concerns, and heavy outflows from Bitcoin ETFs, triggering leveraged liquidations. This market downturn has also led other crypto firms like Kraken and Ledger to pause their IPO plans. BitGo, the only crypto-native company to go public in 2026, saw its stock drop 36% below its IPO price after an initial rally, highlighting volatile investor sentiment. Consensys raised $450 million in a Series D round in early 2022 at a $7 billion valuation.
Key facts
- Consensys delays IPO until fall due to market downturn.
- Company hired JPMorgan and Goldman Sachs as bankers.
- Crypto markets fell sharply in February 2026.
- BitGo's stock trades 36% below IPO price.
- Other firms like Kraken and Ledger also paused IPO plans.