MetaMask Developer Delays IPO Until Autumn

ConsenSys delays MetaMask IPO to autumn due to market conditions.

The developer of the non-custodial wallet MetaMask, ConsenSys, has postponed its plans to go public in the US. According to CoinDesk, the listing will not occur before autumn.

Initially, Joseph Lubin’s company planned to file with the SEC by the end of February, engaging bankers from JPMorgan and Goldman Sachs for the process.

The delay is attributed to unfavourable market conditions. In February, the crypto market declined due to macroeconomic uncertainty and outflows from bitcoin ETFs, as investors showed reduced interest in risky assets.

ConsenSys is not the only company reconsidering its plans amid volatility: earlier, the trading platform Kraken and wallet manufacturer Ledger also announced a pause in their IPO preparations.

Currently, the only major crypto company to go public this year remains BitGo. However, after a successful start, the service’s shares fell 46.9% below the offering price.

In the first quarter, BitGo’s revenue reached $3.8 billion, a 112.6% increase over the same period last year. The growth was driven by digital asset sales and stablecoin issuance services. The company also launched a derivatives trading service, with platform trading volumes reaching approximately $3 billion.

Despite revenue growth, the firm’s net loss increased to $60.7 million from $25.7 million a year earlier. BitGo attributed the losses to a paper revaluation of bitcoin holdings and employee compensation expenses post-IPO.

Cryptocurrency Regulation

ConsenSys’ Director of Regulatory Affairs, Bill Hughes, urged the US Senate to expedite the passage of the CLARITY Act. He stated that the lack of clear rules forces American crypto businesses offshore.

🚨America Is Handing the Crypto Market to Foreign Competitors. The CLARITY Act Would Change That.🚨

The United States is the largest cryptocurrency market on the planet. American users moved over $1 trillion in crypto transactions in the first seven months of 2025 alone. And yet…

— Bill Hughes 🦊 (@BillHughesDC) May 8, 2026

Hughes warned that using foreign exchanges poses national security risks: regulators find it harder to combat money laundering and sanctions evasion.

The CLARITY Act provides for federal registration of crypto exchanges and brokers. The document requires platforms to comply with AML rules and gives the Treasury tools to monitor transactions.

According to Hughes, the law is necessary for major financial institutions. Banks and investment funds are ready to adopt blockchain but await a legal framework. This would help create high-tech jobs and maintain US leadership in the industry.

US Senators Jack Reed and Tina Smith have prepared amendments to the CLARITY Act ahead of the final committee vote.

News: Sens. Reed (D-R.I.) and Smith (D-Minn.) have filed an amendment ahead of Thursdays markup that will force senators to choose between crypto and the banks

The amendment would incorporate bank’s changes to stablecoin yield restrictions. Tough tough vote for bank-friendly Rs pic.twitter.com/ldxJRmfnQT

— Brendan Pedersen (@BrendanPedersen) May 13, 2026

Over 100 comments have been submitted on the project, 40 of which were prepared by Senator Elizabeth Warren. She proposed, among other things, to prohibit the Federal Reserve from opening master accounts for crypto companies.

Reed suggested banning the use of digital assets as legal tender, including for tax payments.

The American Bankers Association has sent over 8,000 letters to senators. The organization’s main complaint is the compromise on stablecoin yields: experts believe the new rules could harm the interests of the traditional financial sector.

🚨NEW: Since last Friday, @ABABankers members have sent more than 8,000 letters to Senate offices urging lawmakers to fix the stablecoin yield compromise, per a source familiar with the effort. It apparently does not include a separate phone call campaign.

— Eleanor Terrett (@EleanorTerrett) May 12, 2026

The US Senate Banking Committee will review the updated document on May 14.

Back in November 2025, Ripple’s President Monica Long denied plans for the fintech company’s initial public offering.