Consensys, the Ethereum (CRYPTO: $ETH) development firm, has paused its planned initial public offering (IPO) until this autumn due to poor market conditions.
The company, best known for its MetaMask wallet, had engaged banks such as JPMorgan Chase (NYSE: $JPM) and Goldman Sachs (NYSE: $GS) to lead its IPO this spring.
However, those plans have now been pushed back as crypto markets remain choppy amid ongoing geopolitical upheaval and reduced expectations for interest rate cuts.
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Consensys is one of several crypto firms to delay its IPO. Crypto wallet provider Ledger indefinitely delayed its IPO, also citing difficult market conditions.
A prolonged downturn in crypto prices has seen even large crypto firms, such as exchange Kraken, halt their IPO plans for the time being.
BitGo (NYE: $BTGO) is the only crypto-native company to go public so far in 2026. Since its January IPO, the company’s stock has fallen 36%.
Consensys most recently raised $450 million U.S. in venture funding at a valuation of $7 billion U.S.
Management at Consensys say they still hope to go public this fall, depending on market conditions.