Consensys, the developer of MetaMask, has delayed its planned U.S. initial public offering from spring to at least fall amid weaker market demand. The company had previously aimed to confidentially file a draft S-1 registration statement with the SEC by late February. The broader slowdown also affects Ledger, which has paused its U.S. IPO plans, and Kraken, which is also reported to have halted listing efforts. According to the reports, weak investor appetite for crypto-related listings has been reinforced by poor share performance from BitGo, described as the only crypto listing example in 2026. Consensys last raised $450 million in 2022 at a $7 billion valuation.