Consensys Pushes Potential IPO to Fall as Crypto Markets Stay Soft

Consensys, the company behind the MetaMask wallet, has postponed a potential initial public offering until at least this fall, citing weak market conditions. People familiar with the matter said Consensys had been preparing to confidentially submit a draft S-1 to the U.S. Securities and Exchange Commission in late February. The company has also tapped JPMorgan and Goldman Sachs to lead the process. Crypto markets have remained under pressure since February, leading several digital-asset firms to put IPO plans on hold. Consensys last raised $450 million in a 2022 Series D funding round that valued the company at $7 billion.