Summary
- French crypto wallet company Ledger has put its US IPO plans on hold because of deteriorating market conditions.
- Ledger earlier this year appointed Goldman Sachs, Jefferies and Barclays as advisers for a US IPO and was valued at about $4 billion.
- CoinDesk said digital-asset companies are reconsidering IPO timelines as weaker token prices and lower trading volumes weigh on investor sentiment.
Forecast Trend Report by Period
French cryptocurrency wallet maker Ledger has paused preparations for a US stock market listing.
CoinDesk, citing multiple sources, reported on May 13 that Ledger recently decided to put its US initial public offering plans on hold. The company has not yet filed an S-1 registration statement with the US Securities and Exchange Commission, the report said. An S-1 filing is typically the first formal step toward a US listing.
Earlier this year, Ledger hired Goldman Sachs, Jefferies and Barclays as advisers for a US IPO. At the time, the company was valued at about $4 billion.
The decision appears to reflect recent conditions in the crypto market. US cryptocurrency exchange Kraken filed an S-1 with the SEC last year but suspended its listing process earlier this year.
CoinDesk reported that digital-asset companies are reconsidering IPO timelines after a wave of crypto listings in 2025, as weaker token prices and lower trading volumes dampen investor sentiment.
Ledger is known for making hardware wallets that let users store cryptocurrency offline. Its core business is safeguarding private keys that control access to digital assets such as Bitcoin and Ether.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
