Ledger’s Bitcoin Bank Bonanza: $4B IPO Goes Wild-Here’s Why You Can’t Sleep

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Ledger, that slick French company twirling keys to crypto vaults, is eyeing a big, fat IPO in the United States.

It’s the kind of move that pushes the company into the ranks of Markdown‑munching digital asset outfits that are finally sweating the American regulatory exam.

Ledger’s Greedy Gamble on the NY Stock Exchange

Word on the streets from the Financial Times is that Ledger is nibbling at investment giants like Goldman Sachs, Jefferies and Barclays, hoping to flirt with a valuation that could top a cool four billion dollars.

That’s a jump from the modest $1.5 billion they grazed back in 2023, after raising cash from investors including True Global Ventures and 10T Holdings. The FT, whispering to insiders, says the IPO might stick to the calendar sooner rather than later.

Still, the plans rustle like dry leaves-Ezra, as the story goes, could flap the sails and change course. When BeInCrypto reached out, Ledger politely (and quietly) declined to elaborate.

Last winter, CEO Pascal Gauthier hinted at whales breaching U.S. capital markets, nodding to future fundraising in New York or a more under‑the‑cover private round.

“Money is in New York today for crypto, it’s nowhere else in the world; it’s certainly not in Europe,” he declared, as if telling a joke that only a few in the room would get.

Ledger’s potential listing comes on a backdrop of booming revenue streams: Gauthier noted that by November 2025, the company was pulling in triple‑digit millions, like a well‑timed crop in a drought-lucky.

But this harvest was largely thanks to a surge in crypto heists. Every time a hacker tricks a user into sending their digital gold to a pox‑binding address, the punters pile into hardware wallets.

Data from Chainalysis estimates that in 2025, hash‑minted scams siphoned more than seventeen billion dollars from good‑faith investors.

And as ever, there were critics. Crypto sleuth ZachXBT raised his eyebrows over Ledger’s past security lapses and product hiccups.

“Ledger, a French security company, has been breached multiple times, which led to customers’ data being leaked, causing targeted thefts and millions gone. Current products have major issues like the battery for the Ledger Nano X. Now Ledger plans to squeeze more out via a US IPO after recently announcing they will also charge a % for clear signing,” he berated.

Earlier this month, BeInCrypto reported a data breach where private information bled through a third‑party processor, Global‑e. Ledger had already tasted the sting of a separate data flare in 2020.

While Ledger is fussing over the NYS market, BitGo has already danced into limelight as the first big crypto IPO of 2026, listing on the NYSE on January 22, with a price of $18 per share.

The stock jumped 24.6% at 22.43, giving BitGo a valuation of roughly $2.2 billion-a twister in a summer storm. The era of crypto listings continues with Circle, Figure Technology, Gemini, Bullish, and others on the scene, while Grayscale and Kraken are stalking their own IPO dates.

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2026-01-23 13:36