Ledger, Consensys Get Cold Feet as Crypto IPO Window Slams Shut
Ledger and Consensys have postponed their IPO plans due to unfavorable crypto market conditions and reduced investor appetite.Summary
Ledger, the Paris-based hardware wallet maker, has put its U.S. initial public offering (IPO) plans on hold due to current crypto market conditions impacting investor demand. The company had explored a listing that could have valued it at around $4 billion, with Goldman Sachs, Jefferies, and Barclays advising. This decision reflects a broader trend in the digital asset sector, where companies are delaying public listings amid lower token prices, weaker trading volumes, and volatile equity performance. Other crypto firms like Kraken have also paused their IPOs, and Consensys has delayed its expected listing. Despite the IPO delay, Ledger is expanding its U.S. presence, appointing a new CFO and opening a New York office to focus on institutional clients and its Ledger Enterprise platform, aiming to provide secure digital asset custody infrastructure.
(Source：Bitcoin Magazine)