Overview
- CEO Pascal Gauthier told the Financial Times the company is evaluating a U.S. listing, with a 2026 private financing round also under consideration to access deeper capital pools.
- Revenue in 2025 has reached the triple‑digit millions, marking Ledger’s strongest year as demand for offline custody accelerates ahead of the holiday sales period.
- Ledger says it secures roughly $100 billion worth of bitcoin for customers and was last valued at $1.5 billion in a 2023 round backed by 10T Holdings and True Global Ventures.
- Blockchain analytics firm Chainalysis estimates $2.17–$2.2 billion was stolen in the first half of 2025, with about 23% of incidents targeting individual wallets and a record $1.5 billion Bybit hack cited.
- The company faces reputational and product pressures, including criticism of new multisignature transaction fees and heightened awareness of physical risks following kidnappings such as co‑founder David Balland’s case.