Ledger Raises $109 Million in Funding Round, Valued at $1.4B

• Ledger, a crypto hardware wallet maker, has raised most of its $109M funding round at a valuation of $1.4 billion.
• The collapse of centralized crypto exchange FTX and the US Commodity Futures Trading Commission’s lawsuit against Binance have made digital-asset owners wary about leaving tokens in others’ hands.
• Ledger CEO Pascal Gauthier stated that the company has shown strong resilience despite the tough environment and growing adoption for their hardware and services parts of the business.

Ledger Raises $109M Funding Round

FinanceCrypto Hardware Wallet Maker Ledger has raised most of its 100 million euros ($109 million) funding round at a valuation of 1.3 billion euros ($1.4 billion), according to Bloomberg. It was first reported last August that this new round may be taking place.

Challenges Faced by Crypto Industry

The collapse of centralized crypto exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) lawsuit against Binance have made many digital-asset owners wary of leaving their tokens in the hands of other entities.

Ledger’s Commitment to Blockchain Innovation

Ledger’s hardware products allow users to store their assets in a secure, physical location, making them an attractive option for users who want to protect their funds from third-party risk and potential hacks or other malicious activity on exchanges or wallets managed by others.

CEO Pascal Gauthier’s Statement

In response to these events, Ledger CEO Pascal Gauthier provided some insight into how his company had been impacted but stated that they remain committed to blockchain innovation: “As you know, 2022 was a trying year for the crypto industry, including the collapse of significant crypto exchanges and shifting macroeconomic conditions.” He continued: “In this tough environment, Ledger has consistently shown strong resilience and growing adoption for the hardware and services parts of our business.”

Conclusion

Overall, it is clear that despite some challenges faced by the overall cryptocurrency industry due to external events like government action or exchange collapses, companies like Ledger remain resilient as more people turn towards secure storage solutions for their digital assets as opposed to relying solely on centralized exchanges or online wallets with risks associated with them.