Ledger Follows BitGo, Plans US IPO Amid Crypto Security Surge

[chainsniff]

French crypto wallet provider Ledger is reportedly preparing a US IPO, valuing the company at more than $4 billion, according to sources cited by the Financial Times. Talks involve Goldman Sachs, Jefferies, and Barclays.

Ledger’s move follows the recent IPO of BitGo, which saw shares surge 24% on the first day of trading. Ledger CEO Pascal Gauthier emphasized the growing threat of crypto hacks, which totaled $3.4 billion in 2025, making hardware wallets more vital than ever.

Founded in 2014, Ledger specializes in offline wallets that protect private keys, and the company posted record revenue in 2025, benefiting from the increasing demand for secure crypto storage as self-custody adoption rises globally.

[etfs]

curious if ledger shares will trade like a crypto-adjacent tech stock or if investors will price in regulatory risk from the get-go.