Cryptocurrencies . 2 Aug 2022

Ledger Eyes Fresh $100M Raise Amid Growing Demand

by Priyanshi Agarwal
Ledger Eyes Fresh $100M Raise Amid Growing Demand
source: unsplash by amjith
Read News

Read news for me

The Hardware wallet manufacturer Ledger is in talks to raise at least $100 million in new funding round, according to Bloomberg.

Bankrupt custodial lenders, including Celsius, Voyager, 3AC, and Vault, resulted in the loss of funds for investors. Moreover, these firms traded using their user funds.

These concerns generally boosted Ledger's business which is focused on self-custody solutions. Investors prefer to keep custody of their funds.

A year ago, Ledger's completed their Series C funding and raised $380 million at a valuation of $1.5 billion led by Dan Tapiero’s 10T Holdings

Ledger also offers crypto debit cards. The Crypto Life (CL) card was released on the Visa network last winter. The CL card immediately recasts crypto into fiat from a guaranteed wallet when paid to merchants.

Legal Complications For Ledger 

Ledger is a hardware wallet, where users can store their cryptocurrency in a state of cold storage. 

It depicts that they allow crypto investors to hold their digital assets offline in a physical mode. This gives users the power to steward their crypto without worrying about online theft.

In recent months, policymakers have debated enormously over unhosted crypto wallets. They asked non-custodial wallet providers also would need to furnish personal information about wallet users.
The parliament of the European Union has voted in favor of setting new regulatory standards to prohibit anonymous crypto transactions.