Crypto wallet company Ledger reportedly plans 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 revealed this information to the Financial Times, adding that he will spend more time in New York because “today the money is in New York for cryptocurrencies; it is not anywhere else in the world, certainly not in Europe.”
The fundraising plans follow record revenues of triple-digit millions this year, driven by growing demand for secure custody solutions amid a sharp rise in cryptocurrency thefts.
“We are getting hacked more and more every day… hacking into their bank accounts, into their cryptocurrencies, and the situation will not improve next year or the year after that,” Gauthier told the FT.
Ledger currently manages approximately $100 billion worth of client bitcoin and was last valued at $1.5 billion in 2023 during a funding round that included names like 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, following a funding round that included investors such as 10T Holdings and Singapore’s True Global Ventures.
