Ledger Halts U.S. IPO Plans Amid Market Challenges

2026-05-13 23:06

French crypto hardware wallet maker Ledger has paused its plans for a U.S. initial public offering (IPO) due to unfavorable market conditions. The company, previously valued at around $4 billion, had engaged Goldman Sachs, Jefferies, and Barclays as advisors but has not filed any registration documents with the SEC. Ledger may now explore private financing options instead. This move follows a trend among crypto firms, with Kraken also suspending its IPO plans citing similar market conditions. Meanwhile, BitGo, which is already public, has experienced a 36% decline in its stock price since its offering, highlighting a broader cooling in enthusiasm for U.S. listings among crypto companies.

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