Crypto giant reportedly triples valuation ahead of IPO

Group 1: Market Developments - The number of public listings, mergers, and acquisitions in the crypto sector saw a significant increase last year, indicating a robust market environment [1] - BitGo is set to list on the New York Stock Exchange with a valuation of $2 billion, marking the first major digital asset IPO of 2026 [1] - Ledger is preparing for a potential U.S. IPO that could value the company at over $4 billion, nearly tripling its last known valuation [2][3] Group 2: Company Insights - Ledger, founded in Paris in 2014, is recognized for its hardware wallets that securely store private keys offline [3] - The company was last valued at $1.5 billion in 2023, following a funding round supported by investors like True Global Ventures and 10T Holdings [4] - Ledger's CEO highlighted that the company is experiencing record revenues in the triple-digit millions, driven by increased demand due to security concerns in the crypto space [5] Group 3: Industry Context - The move towards a U.S. listing for Ledger reflects the concentration of crypto investment in New York, as stated by the CEO [5] - Security fears have contributed to Ledger's growth, with a reported $17 billion lost to crypto scams and fraud last year, up from $13 billion in 2024 [6]