Consensys, the Ethereum software firm behind the MetaMask wallet, has delayed its potential U.S. IPO until fall at the earliest as market conditions weaken for crypto listings, CoinDesk has learned, citing two people familiar with the matter.
According to the report, the company pushed back the possible public offering because of poor market conditions. Consensys had been aiming to file a draft S-1 registration statement with the U.S. Securities and Exchange Commission around the end of February, according to sources.
- Consensys was founded by Ethereum co-founder Joe Lubin and is one of the best-known private companies in the Ethereum ecosystem.
- Its main products include MetaMask, a crypto wallet used to access decentralized apps, and Infura, a blockchain infrastructure used by developers.
Consensys last raised $450 million in a Series D round in March 2022, valuing the company at more than $7 billion.
The delay comes as several crypto companies rethink IPO timing. Earlier, The Coinformer reported that Ledger, the French crypto wallet maker, has also paused IPO plans as volatile markets weigh on investor appetite.