Ethereum developer Consensys delays its potential $7 billion IPO due to weak crypto market conditions and macroeconomic uncertainty.
Consensys, the firm behind MetaMask, has delayed its potential U.S. initial public offering until fall, citing poor market conditions. The company had engaged JPMorgan and Goldman Sachs to lead the process and aimed to file a draft S-1 with the SEC by late February.
The firm raised $450 million in a 2022 Series D round, valuing it at $7 billion. Crypto markets faced significant pressure in February 2026 due to macroeconomic uncertainty, reduced rate-cut expectations, and bitcoin outflows.
A Consensys spokeswoman declined to comment on market speculation, while regulatory clarity in the U.S. remains a key factor for crypto firms.