After Ledger raised as much as $380 million and raised the company’s valuation to $1.5 billion in June, leading French hardware wallet maker Ledger is now raising funds for $1.5 billion. is also looking to raise an additional $100 million. followBloomberg report
In June, Ledger raised $380 million in a funding round led by 10T Holdings, according to the report. The company is looking for an additional $100 million in funding to help it continue to grow its business rapidly. It is said that the business is booming as investors are looking for cold storage for their cryptocurrencies. According to sources cited by Bloomberg.
Hardware Wallets from Ledger are offline storage devices that are not connected to the Internet. This makes it safer from hacking than online wallets. This allows users to manage their own cryptocurrency without worrying about the liquidity of the provider.
The company’s products have grown in popularity in recent years. As investors try to protect their digital assets from hacks and liquidity issues that have plagued the cryptocurrency industry recently, Ledger’s business is reportedly expanding at a time when lenders and the web Various trades are experiencing liquidity problems. According to a Bloomberg source
Cryptocurrency business in trouble Customers withdrawing are often halted to avoid a bank run, with Singapore’s Zipmex being the latest example. But lenders, including Vauld and Celsius, have recently adopted the technique, where concerns have fueled demand for hardware wallets as a way to store digital assets offline and avoid potential liquidity issues. climb
Leading Hardware Wallet Maker Ledger to Raise $100M as Demand for Crypto Storage Grows Appears First on Bitcoin Addict.