Consensys Delays Potential U.S. IPO Until Fall as Crypto Markets Stay Weak
Consensys, the Ethereum development firm behind MetaMask led by Joe Lubin, has delayed any potential U.S. initial public offering until at least the fall because of poor market conditions, according to people familiar with the matter. The company had planned to confidentially file a draft S-1 with the Securities and Exchange Commission around late February and had engaged JPMorgan and Goldman Sachs to lead the process.
The move extends a broader slowdown in crypto listings as the market has remained under pressure since February. Ledger earlier put its U.S. IPO plans on hold because of unfavorable market conditions; the wallet maker had not filed a draft S-1 and was considering private fundraising instead. Consensys raised $450 million in a 2022 Series D round at a $7 billion valuation.
From the sources (10 posts)
@wublockchainLedger Pauses U.S. IPO Plans Due to Market Conditions Crypto wallet provider Ledger has put its U.S. IPO plans on hold due to unfavorable market conditions. People familiar with the matter said Ledger has not filed any draft S-1 registrati
@degeneratenewsNEW: CRYPTO WALLET PROVIDER LEDGER PUTS U.S. IPO PLANS ON HOLD DUE TO MARKET CONDITIONS - PER COINDESK SOURCE:
@coindeskSCOOP: Crypto wallet provider Ledger put its plans to go public in the U.S. on hold due to unfavorable market conditions, according to sources. @willcanny99 reports.
@scottmelkerJUST IN: LEDGER PAUSES PLANNED US IPO DUE TO UNFAVORABLE MARKET CONDITIONS
@deitaoneLEDGER PAUSES US IPO PLANS AMID MARKET UNCERTAINTY Crypto security firm Ledger has paused its planned U.S. IPO due to unfavorable market conditions, according to a report. The company has not yet filed a confidential S-1 with the SEC, and
@deezeWhat happens first, ledger IPO or $SEA?
@fintechfrankMarket conditions pumping brakes on Ledger and Consensus IPOs
@tyler_did_itWhy IPO when it makes sense for your company when you can wait for perfect market conditions instead
@wublockchainMetaMask Developer Consensys Delays Potential IPO Until Fall Amid Weak Crypto Markets MetaMask developer Consensys has delayed its potential IPO until at least this fall due to weak market conditions. Sources said the company had planned t
@coindeskSCOOP: Consensys, the Ethereum development firm led by Joe Lubin, has pushed back its potential U.S. public offering until fall at the earliest due to poor market conditions, according to sources. @IanAllison123 and @willcanny99 report.