Ledger Shelves IPO Ambitions, Cites Unfavorable Market Conditions: CoinDesk

Bankless

Wed, May 13, 2026 astatine 11:39 AM CDT 1 min read

According to a study published by CoinDesk, crypto hardware wallet shaper Ledger has paused plans for a U.S. IPO due to the fact that of unfavorable marketplace conditions, citing 2 radical acquainted with the process.

What's the Scoop?

• Pressing Pause: Ledger is reportedly delaying its rumored U.S. archetypal nationalist offering (IPO). According to CoinDesk, the French-based crypto hardware wallet shaper is "reassessing its nationalist marketplace plans arsenic volatile conditions measurement connected capitalist appetite for crypto IPOs." When reached for comment, a Ledger spokesperson declined to supply one.

• Under Consideration: Although Ledger has yet to record a draught S-1 registration signifier with the Securities and Exchange Commission – the archetypal measurement successful commencing the IPO process – reports that the wallet shaper is pursuing a nationalist listing person been circulating since past November, erstwhile CEO Pascal Gauthier told the Financial Times that his institution was weighing either a New York IPO oregon a backstage backing circular successful 2026. Subsequently, successful January, the Financial Times reported that Ledger was exploring a $4B NYSE IPO alongside concern banks Goldman Sachs, Jefferies, and Barclays, with a imaginable debut besides slated for 2026.

• Previous Raise: Ledger previously raised a $380M Series C backing circular successful 2021 that valued the institution astatine $1.5B. It subsequently "added" $385M to the circular successful 2023 astatine akin terms.