PANews reported on May 13th, citing CoinDesk, that hardware wallet maker Ledger has suspended its US IPO plans due to unfavorable market conditions. Sources familiar with the matter stated that Ledger had discussed a US IPO with investment banks such as Goldman Sachs, Jefferies, and Barclays this year, with a potential valuation of approximately $4 billion, but has not yet filed an S-1 registration statement with the SEC. The company is evaluating other options, including private financing. The report points out that after several crypto companies went public in 2025, several institutions, including Kraken, have postponed their IPOs due to weakening token prices, declining trading volumes, and stock market volatility. BitGo, the only crypto-native company scheduled to go public in 2026, has seen its share price fall below its IPO price by approximately 36%.