Consensys, a leading Ethereum development firm, has put off its potential initial public offering (IPO) until fall, citing poor market conditions. The company had been planning to file a draft S-1 registration statement with the Securities and Exchange Commission (SEC) around the end of February but decided to delay its plans.
The decision comes as several crypto firms have paused their IPO plans due to market volatility. Consensys had engaged bankers from JPMorgan and Goldman Sachs last year to lead the process, indicating a potential listing in the United States. The company's valuation stands at $7 billion, following a hefty $450 million Series D round raised in early 2022.
Despite improved regulatory clarity in the U.S., which prompted several crypto firms to outline plans for going public this year, market downturn has seen large companies like exchange giant Kraken and crypto wallet maker Ledger pause their IPO plans. BitGo is the only crypto-native company to go public in 2026 so far, raising about $213 million in its January IPO.