Ledger Nears Completion of $109m Fundraise
Crypto wallet manufacturer Ledger has raised most of a $109 million funding round, hitting a $1.4 billion valuation, according to CoinDesk.
❗Why It Matters
This latest funding round for Ledger underlines the growing concern for secure asset storage in the broader crypto and NFT ecosystems. As centralized exchanges face increasing scrutiny and challenges, more users are seeking alternative ways to protect their digital assets. Ledger's success is a testament to the importance of decentralized solutions and the continued expansion of the
The recent collapse of the centralized crypto exchange FTX and U.S. regulatory actions against Binance have highlighted the risks of leaving digital assets in the hands of centralized platforms. Ledger's hardware products, on the other hand, allow users to securely store their assets in a physical location. This has contributed to the company's growing success and the latest funding round.
Ledger's stable valuation of $1.4 billion reflects the sustained interest in secure crypto storage solutions. The funding round includes support from returning investors such as 10T, Cap Horn, Morgan Creek, and Cathay Innovation, as well as new investors True Global Ventures, Cite Gestion SPV, Digital Finance Group, and VaynerFund.
As we enter this new era, the smartphone in your pocket and the laptop on your desk lack fundamental security properties. These devices were built to produce and share content in a centralized Internet of Information, not to own and trade assets in a decentralized Internet of Value. My point is clear: you need a new generation of hardware to explore this next chapter. Pascal Gauthier, Ledger CEO