French crypto safety firm Ledger is weighing a New York inventory market itemizing after a surge in cyberattacks pushed demand for its cold-storage gadgets to document highs in 2025.
CEO Pascal Gauthier informed the Monetary Occasions that the agency is having its strongest yr since launching in 2014, with revenues now within the lots of of thousands and thousands as people and establishments race to safeguard their crypto holdings.
“On daily basis, hacking makes an attempt are rising – in your financial institution accounts, your crypto, every thing,” Gauthier mentioned. “And it’s not going to get higher subsequent yr or the one after that.”
Ledger’s growth comes amid a wave of crypto thefts totaling $2.2 billion in simply the primary half of 2025, already surpassing all of 2024, in line with Chainalysis knowledge cited by the FT. Roughly 23% of these assaults focused particular person wallets, underlining the rising urgency for safe {hardware} storage.
Presently, Ledger protects about $100 billion value of Bitcoin and is anticipating additional gross sales spikes throughout Black Friday and the vacation season. The corporate plans to boost capital subsequent yr – both via a personal spherical or by going public within the U.S., as Gauthier emphasised that “the cash is in New York immediately, not in Europe.”
Based in Paris, Ledger has turn into the worldwide chief in chilly pockets know-how, forward of rivals like Trezor and Tangem. The corporate final held a valuation of $1.5 billion in 2023, backed by 10T Holdings and True International Ventures.
Nevertheless, the corporate’s newest multisignature (multisig) app launch drew combined reactions. Whereas some praised its performance, others criticized its new charge mannequin – a $10 flat charge plus 0.05% per transaction – accusing Ledger of drifting from its Cypherpunk roots. Critics, together with developer pcaversaccio, argued the brand new mannequin introduces centralized choke factors that contradict Ledger’s early open-source philosophy.
Regardless of the backlash, Ledger’s trajectory means that safety stays the last word progress driver in crypto’s subsequent part — and the corporate seems decided to capitalize on that momentum via Wall Avenue’s entrance door.
