crypto hardware wallet maker Ledger has paused plans for a U.S.
According to a report published by CoinDesk, crypto hardware wallet maker Ledger has paused plans for a U.S. IPO because of unfavorable market conditions, citing two people familiar with the process.
What’s the Scoop? – Pressing Pause: Ledger is reportedly delaying its rumored U.S. initial public offering (IPO). According to CoinDesk, the French-based crypto hardware wallet maker is “reassessing its public market plans as volatile conditions weigh on investor appetite for crypto IPOs.” When reached for comment, a Ledger spokesperson declined to provide one. – Under Consideration: Although Ledger has yet to file a draft S-1 registration form with the Securities and Exchange Commission – the initial step in commencing the IPO process – reports that the wallet maker is pursuing a public listing have been circulating since last November, when CEO Pascal Gauthier told the Financial Times that his company was weighing either a New York IPO or a private funding round in 2026. Subsequently, in January, the Financial Times reported that Ledger was exploring a $4B NYSE IPO alongside investment banks Goldman Sachs, Jefferies, and Barclays, with a potential debut also slated for 2026. – Previous Raise: Ledger previously raised a $380M Series C funding round in 2021 that valued the company at $1.5B.
It subsequently “added” $385M to the round in 2023 at similar terms