Consensys Taps JPMorgan and Goldman Sachs to Launch IPO

Consensys, the blockchain software company behind Web3 wallet MetaMask, has disclosed plans to go public. According to a recent Axios report, the company has enlisted investment banks JPMorgan and Goldman Sachs as underwriters for its initial public offering (IPO).

Consensys Pursues IPO

Founded in 2014 by Ethereum co-founder Joseph Lubin, Consensys has grown into one of the pillars within the Ethereum ecosystem. Aside from launching MetaMask, the blockchain software firm served as an incubator for various Ethereum-based decentralized applications (dApps). It also backs SharpLink Gaming, a company known for its frequent ETH acquisition practice.

Consensys is also the brains behind Linea, a layer-2 blockchain compatible with the zero-knowledge Ethereum Virtual Machine (zkEVM). Since its mainnet debut in July 2023, Linea has amassed massive attention in the crypto market. Following news of Consensys’ IPO plans, Linea’s native token, LINEA, saw a brief price spike from $0.01337 to $0.01471. At the time of writing, the digital asset sold for $0.01421, representing a 3.38% increase in the past 24 hours.

Consensys has yet to provide further details about the announced IPO. These details include the IPO’s valuation, the stock exchange on which the firm intends to trade, the ticker symbol, and updates on its filing with the relevant government agency.

Nonetheless, going public will enable Consensys to augment its market valuation and improve its overall finances. Recall that the blockchain firm laid off 20% of its workforce in October 2024, citing regulatory difficulties.

More IPO Explorations

An IPO is a process that enables private companies to offer their shares to the public. This allows them to raise capital while enabling the public to gain exposure to their business growth. Aside from Consensys, other crypto-native platforms have either gone public or announced plans to do so.

Coinbase was the first to make such a move in the United States. Last month, crypto exchange Gemini went public on Nasdaq. Stablecoin issuer Circle made a similar move a few months ago.

Other crypto platforms, such as Kraken, BitGo, and OKX, have expressed interest in going public in the U.S. These decisions to go public in the country come amid a crypto-friendly outlook from the government.

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