Consensys
Owns MetaMask, Infura and Linea. The SEC dropped its case, clearing the way to an IPO that has since slipped to autumn 2026 at the earliest.
- Founded
- 2014
- Registered
- United States
- Site
- consensys.io
The short answer
The SEC dropped its case over MetaMask’s staking services, removing the main obstacle to a listing, and Consensys engaged JPMorgan and Goldman Sachs for a confidential filing targeted at early 2026. It then slipped: reporting in May 2026 put the listing at autumn 2026 at the earliest as crypto markets weakened. What the company actually is matters more than the timing — it owns MetaMask, Infura and Linea, which means it supplies the wallet, the default connection behind it and a chain to use them on.
Key facts
| Products | MetaMask, Infura and Linea — the wallet, the default RPC infrastructure behind it, and an Ethereum layer 2as of 27 Sept 2026 |
|---|---|
| SEC case | Dropped, over MetaMask’s staking services — the main obstacle to a public listingas of 27 Sept 2026 |
| IPO | Confidential S-1 targeted around February 2026 with JPMorgan and Goldman Sachs as leads; reporting in May 2026 pushed it to autumn 2026 at the earliestas of 27 Sept 2026 |
| The concentration | One company supplies the most-used wallet, the connection it defaults to, and a chain to use them onas of 27 Sept 2026 |
| MetaMask itself | Covered separately on our [MetaMask profile](/companies/metamask) — licence, privacy and swap fees belong thereas of 27 Sept 2026 |
One company, three layers of the same stack
Consensys owns MetaMask, the most-used wallet in crypto; Infura, the RPC infrastructure that MetaMask connects to by default; and Linea, an Ethereum layer 2. Each is a reasonable business. Together they are the thing worth noticing.
A user opens MetaMask, which routes their requests through Infura, which means one company can associate an IP address with every address that user holds and every contract they touch. That is why we score MetaMask’s privacy 2 out of 10. The concentration is not a secret and almost nobody using the default configuration is aware of it.
Adding a chain to the same portfolio extends the pattern rather than changing it. Whether that is troubling depends on your view of what Ethereum’s architecture was for: a system designed so no single party is load-bearing, with a single company sitting at the point most users actually enter through.
The practical mitigation is small and real. Changing the RPC endpoint in MetaMask breaks the Infura link, costs nothing and takes a minute, and hardly anyone does it.
The IPO, and what a listing would change
The SEC dropped its case concerning MetaMask’s staking services, which removed the main legal obstacle to going public. Consensys engaged JPMorgan and Goldman Sachs and targeted a confidential filing around February 2026. By May 2026 reporting had pushed the listing to autumn 2026 at the earliest, as crypto markets weakened.
A listing would change something specific and useful: audited financial statements and mandatory disclosure. Today Consensys is private, so how much revenue MetaMask swap fees generate, how much of Infura’s traffic comes from MetaMask defaults, and how Linea is funded are all unpublished. Those numbers would become public, and they are the numbers that would let anyone assess the concentration described above rather than infer it.
The slip is worth reading plainly rather than as a setback. An IPO delayed because markets weakened is a company choosing its moment, which is ordinary. What it means for now is that the largest wallet in crypto remains owned by a company that does not have to tell you how it makes money.
The wallet itself — its licence, its privacy default and its swap fees — is covered on our MetaMask profile, which is where those questions belong.
Incident record
No recorded incidents since 2014, verified 27 Sept 2026.
Our coverage of Consensys
- How to spot a fake proof of reserves27 Sept 2026
- Bitget loses $351.6m — and the fund it says covers it is one we could not verify25 Sept 2026
- Is Kraken safe? The evidence, and what it lacks25 Sept 2026
- What happens to your coins if an exchange goes bankrupt23 Sept 2026
- Is Coinbase safe? What its own filings say19 Sept 2026
- How to move crypto off an exchange, step by step17 Sept 2026
- Token approvals: the permission that drains wallets15 Sept 2026
- What "not your keys, not your coins" leaves out9 Sept 2026
- The seed phrase mistakes that cost people everything7 Sept 2026
- Hardware wallet or software wallet: how to decide5 Sept 2026
Questions people ask
What does Consensys own?
MetaMask, the most-used wallet in crypto; Infura, the RPC infrastructure MetaMask connects to by default; and Linea, an Ethereum layer 2. One company supplies the wallet, the connection behind it and a chain to use them on.
Is Consensys going public?
It intends to. The SEC dropped its case over MetaMask staking, removing the main obstacle, and JPMorgan and Goldman Sachs were engaged for a confidential filing targeted around February 2026. Reporting in May 2026 pushed it to autumn 2026 at the earliest.
Why does Consensys owning both MetaMask and Infura matter?
Because MetaMask routes through Infura by default, so one company can associate your IP address with every address you hold. We score MetaMask’s privacy 2 out of 10 for it. Changing the RPC endpoint breaks the link, costs nothing, and hardly anyone does it.
What happened to the SEC case against Consensys?
It was dropped. The case concerned MetaMask’s staking services and was the main legal obstacle to a public listing. Its resolution is what made the IPO process possible.
What changed
- 27 Sept 2026 — Profile published. MetaMask is covered separately; this page takes the corporate, Infura, Linea and IPO clusters.