Consensys Delays Ethereum IPO Plans Until Fall 2026
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Consensys, the Ethereum (ETH) development firm behind the MetaMask wallet, has pushed its planned US public offering to fall 2026 at the earliest, according to two people with direct knowledge of the situation. The delay follows a sustained crypto market downturn that made a near-term listing impractical. The company, led by co-founder Joe Lubin, had been targeting a confidential S-1 registration statement filing with the Securities and Exchange Commission (SEC) around the end of February 2026, according to a third person familiar with the plans. A confidential S-1 is typically the first formal step in the IPO process. Consensys had engaged JPMorgan and Goldman Sachs to lead the offering. A company spokeswoman said: "As a matter of policy, we don't comment on market speculation." Crypto markets sold off sharply in February 2026 as investors pulled back from risk assets. Contributing factors included macroeconomic uncertainty, new tariff concerns, reduced expectations for interest rate cuts, and significant outflows from Bitcoin (BTC) exchange-traded funds (ETFs). The sell-off triggered a wave of leveraged liquidations across digital assets. Consensys is one of several crypto firms that have stepped back from listing plans in response to market conditions. Exchange giant Kraken and hardware wallet maker Ledger have also paused their IPO preparations. Improved regulatory...
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