Ledger Eyes New York IPO or Fund Raise: Report

Why It Matters

An IPO would bring a leading crypto‑security provider to public markets, signaling sector maturation and potentially unlocking substantial capital for security solutions as hacking incidents rise. It also underscores New York’s growing dominance as the primary source of crypto financing globally.

Summary

Ledger, the French maker of cryptocurrency hardware wallets that safeguards roughly $100 billion in bitcoin, is weighing a New York initial public offering or a private financing round next year, according to the Financial Times. CEO Pascal Gauthier said he is spending more time in New York because “money is in New York today for crypto,” highlighting the city’s role as a financing hub. The plan follows a year of record triple‑digit‑million‑dollar revenues driven by heightened demand for secure custody amid a surge in crypto thefts. Ledger was last valued at $1.5 billion in a 2023 funding round that included 10T Holdings and True Global Ventures.