Consensys Delays US IPO as Crypto Market Slump Persists
Summary
- Consensys has postponed its US IPO timeline until at least this fall, citing weak market conditions.
- Major crypto companies including Kraken and Ledger have also halted or delayed their IPO plans because of the prolonged market downturn.
- Investors are focused on whether the crypto IPO market recovery will materialize, whether investor sentiment will improve, and how the interest-rate environment and a broader crypto market rebound will unfold.
Forecast Trend Report by Period
Consensys, the developer of MetaMask, has delayed its planned US initial public offering, CoinDesk reported, underscoring the continued weakness in the crypto IPO market.
CoinDesk reported on May 13 that the company pushed back its IPO timetable to at least this fall because of weak market conditions.
Consensys had previously selected JPMorgan and Goldman Sachs as underwriters for the listing.
Several crypto firms in the US have recently disclosed listing plans amid expectations for greater regulatory clarity.
But a prolonged market downturn has prompted major companies including Kraken and Ledger to halt or delay their IPO plans.
Consensys is best known as the developer of the Ethereum-based wallet MetaMask.
Investors are watching whether the market for crypto company IPOs can recover and whether sentiment improves. The interest-rate backdrop and any rebound in crypto markets remain key variables.
