Crypto hardware wallet company Ledger is reportedly planning to go public with an initial public offering (IPO) in New York or alternatively raise funds through a private financing round next year, according to the Financial Times.
Ledger CEO Pascal Gauthier disclosed this information to the Financial Times, adding that he spends more time in New York because “money is in New York today for crypto; it is nowhere else in the world, certainly not in Europe.”
The fundraising plans follow record revenues of triple-digit millions this year, driven by rising demand for secure custody solutions amid a sharp rise in crypto thefts.
“We’re getting hacked more and more every day … hacking of your bank accounts, of your crypto, and it’s not going to get any better next year and the year after that,” Gauthier told the FT.
Ledger currently manages approximately $100 billion worth of clients’ bitcoin and was last valued at $1.5 billion in 2023 in a funding round that included names such as 10T Holdings and Singapore’s True Global Ventures.
The company currently manages custody of approximately $100 billion in bitcoin for its clients and was last valued at $1.5 billion in 2023 after a funding round that included investors such as 10T Holdings and Singapore’s True Global Ventures.
