Ledger Eyes New York IPO as Demand for Secure Crypto Storage Soars
Ledger, one of the biggest names in crypto hardware wallets, is gearing up for a major move. As crypto hacks rise and more users look for safer ways to store their assets, the company is now exploring a public listing in New York — or possibly a large fundraising round in 2026.
The news comes after what Ledger calls its strongest year yet, fueled by growing fears of theft and a renewed push for offline security.
Crypto Theft Is Rising — and So Is Ledger’s Demand
Founded in Paris in 2014, Ledger makes hardware wallets that keep digital assets safe by storing them offline. And in 2025, sales have shot up sharply.
Why? Because more and more crypto users are realizing that online wallets and exchanges are vulnerable. According to Chainalysis, crypto thefts hit $2.2 billion in just the first half of 2025, already higher than all of 2024.
What’s even more worrying is that many of these attacks targeted individual users, not big exchanges. That’s pushed many people to take security into their own hands — and into cold storage devices like Ledger.
The company now safeguards an estimated $100 billion worth of Bitcoin for customers worldwide.
Looking ahead, Ledger expects another surge in sales through the holiday season and into 2026, when it plans to expand its U.S. footprint and strengthen its presence in New York, where CEO Pascal Gauthier says most institutional crypto activity is centered.
Ledger’s Growth — and the Tensions Behind It
Ledger isn’t just growing fast; it’s also facing some internal and community pressure over its direction.
The company was last valued at around $1.5 billion in 2023, making it the dominant player in the hardware wallet market — ahead of competitors like Trezor and Tangem.
But not everyone’s happy. A recent update introduced new transaction fees for its multisignature interface, and that has upset some long-time users. Critics argue that Ledger is moving away from its original crypto roots, which were built on decentralization and user freedom.
On the other hand, supporters say the new changes are necessary for stability and long-term sustainability, especially as Ledger expands its services to institutional clients and adds more complex security features.
This debate reflects a broader struggle inside the crypto world — between staying true to the early ideals of crypto and adapting to the realities of running a global security company.
What’s Next for Ledger
Ledger’s next chapter will depend on how well it balances innovation with trust. The company sits at a critical crossroads: crypto adoption is rising, but so are security risks.
If Ledger can keep users confident while scaling up globally — whether through an IPO or a major new investment — it could set the tone for how crypto security companies evolve in the years ahead.
One thing is clear: in a market full of uncertainty and hacks, security is no longer optional — and Ledger is betting big that it can lead the way.
