coindesk.com
Ledger, a French hardware crypto wallet manufacturer, is planning an initial public offering (IPO) on the New York Stock Exchange this year with a valuation of more than $4 billion, the Financial Times reported, citing people familiar with the matter.
The people said Ledger is working with Goldman Sachs, Jefferies, and Barclays to facilitate an IPO as soon as this year. The company, founded in 2014, achieved a valuation of $1.5 billion in 2023 after a funding round involving investors such as True Global Ventures and 10T Holdings.
Ledger CEO Pascal Gauthier mentioned a possible IPO in November, when he told FT that as hacks hit an all-time high, so did his company’s revenue, reaching hundreds of millions.
On Thursday, BitGo, the digital asset custodial services provider, went public, pricing its shares at $18 and closing up nearly 2.7% for a valuation of more than $2 billion. The company is the first crypto firm to go public this year following a difficult stretch for publicly listed crypto companies due to bitcoin BTC$89,187.13 price volatility. Several firms that went public in 2025 have underperformed over the past six months.
Ledger’s IPO news comes just two weeks after the company grappled with a breach involving a third-party payment processor, Global-e, that exposed Ledger customers' personal details from Global-e's cloud system.
In 2020, Ledger experienced a data breach that exposed 270,000 customers’ data and in 2023, Ledger lost nearly $500,000 to a hack, affecting several decentralized finance applications.