Is the wallet giant Ledger going public? The business behind the encryption security crisis.

Recently, the encryption ecosystem has been ruined by hackers, and the ones making the most profit are those selling “traps”. The French hardware wallet leader Ledger has caught this wave— the more intense the security panic, the longer the line of users rushing to Ledger.

Insiders have revealed that Ledger has launched its IPO plans in New York, aiming directly at the US stock market. The CEO even stated that New York is the new center of encryption capital, implying: we are going public to raise a lot of money.

The logic of this wave is very clear:

• Frequent on-chain security incidents → Users' demand for self-custody skyrockets
• Hardware wallet from geek toys → mainstream configuration
• Ledger from niche brand → gaining mainstream attention

Ironically, the more chaotic the encryption industry becomes, the more popular self-protection tools are. Ledger's move is equivalent to picking up a bargain—users are voting with their money saying “we are scared,” and Ledger has turned this fear into commercial value.

Once the New York IPO takes place, it means that the hardware wallet has upgraded from a technical tool to a true investment product. Traditional capital is starting to take encryption self-custody seriously.