According to the Financial Times, cryptocurrency hardware wallet developer Ledger intends to raise money in a private financing round or go public with an initial public offering (IPO) in New York next year.
This comes after the need for safe devices and wallets that store clients’ tokens offline is rising as a result of cryptocurrency investors’ concerns about their tokens being compromised.
New York for crypto
Pascal Gauthier, the CEO of Ledger, said that he is spending more time in New York because “money is in New York today for crypto; it’s nowhere else in the world, certainly not in Europe.”
The fundraising efforts come after this year’s record sales of triple-digit millions, which were fueled by a dramatic increase in cryptocurrency thefts and a surge in demand for safe custody solutions.
“We’re being hacked more and more every day . . . hacking of your bank accounts, of your crypto, and it’s not going to get better next year and the year after that,” Gauthier told.
Ledger was last valued at $1.5 billion in 2023 at a capital round that included companies, including Singapore’s True Global Ventures and 10T Holdings. Today, it controls clients’ bitcoin worth almost $100 billion.
Successful crypto IPOs
With a $500 million fundraising round, Kraken, one of the world’s oldest crypto exchanges, is now valued at $15 billion. This comes after Kraken paid $1.5 billion to acquire NinjaTrader earlier this year, adding two million more customers to Kraken’s platform.
BitGo, a U.S. cryptocurrency custody company, filed for a U.S. IPO in September after reporting that its revenue nearly doubled in the first half of 2025. According to the report, revenue increased to $4.19 billion with a $12.6 million profit for the six months that concluded on June 30.
In September 2025, Gemini Space Station’s ($GEMI) raised $425 million through an IPO.
The successful cryptocurrency IPOs this year are a prominent example of how the right kind of regulation can bring about changes in the market. The IPO is the next big step for crypto wallet Ledger, as the need for more secure crypto wallets grows in the market.
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