Synopsis: Ledger, the French crypto hardware wallet maker, considers New York Stock Exchange listing amid soaring revenue driven by rising cryptocurrency hacks and demand for secure cold wallets.
Ledger, the French maker of crypto hardware wallets, is considering a listing on the New York Stock Exchange as its revenues soar into the triple-digit millions in 2025. This surge comes amid a record year of cryptocurrency hacks that have driven huge demand for secure cold storage wallets.
CEO Pascal Gauthier told the Financial Times that 2025 is Ledger’s strongest year yet, fueled by growing cyber threats targeting individuals and institutions alike. “We’re being hacked more and more every day… and it’s not going to get better next year and the year after that,” he warned.
Record Thefts and Rising Demand
The spike in demand for Ledger’s hardware wallets is directly linked to a rise in crypto thefts. In the first half of 2025, hackers stole $2.2 billion in digital assets already exceeding the total stolen in all of 2024. About 23% of these attacks targeted individual wallets, showing how retail investors face increasing risks from phishing and malware attacks.
These threats have pushed many to switch from risky hot wallets to more secure offline solutions like Ledger’s USB-style devices. Ledger now secures roughly $100 billion worth of Bitcoin for its users worldwide, totaling over 7.5 million wallets sold since 2014.
Shift Toward New York and Fundraising Plans
Ledger is expanding its presence in New York, reflecting its strategic shift toward the U.S. crypto market, which CEO Gauthier says holds the most capital today. The company plans to either conduct a private fundraising round or go public on a U.S. exchange in 2026.
This move is designed to tap deep pools of investors interested in crypto security and to overcome European regulatory challenges. Ledger’s valuation was $1.5 billion in 2023, backed by investors like 10T Holdings and True Global Ventures, positioning it ahead of competitors like Trezor and Tangem.
Multisig App Launch
In October, Ledger released a new multisignature wallet app aimed at improving transaction security. However, the introduction of a $10 transaction fee and a 0.05% variable fee for token transfers upset parts of the crypto community.
Critics, including developers, accused Ledger of moving away from its decentralized and Cypherpunk origins, turning the app into a revenue-generating centralized choke point. Despite technical improvements, some users see this fee structure as a cash grab, raising concerns about trust and future costs for hardware wallet users.
Ledger’s rise shows how growing cyber threats are reshaping crypto security priorities. For anyone holding digital assets, securing them offline with trusted hardware wallets like Ledger is no longer optional it’s essential. As hacks increase in volume and sophistication, Ledger’s market growth and potential U.S. listing signal a strong demand for robust crypto safety.
Written By Fazal Ul Vahab C H
