Ledger Appoints Former Circle CFO John Andrews, Launches New York Office for US Growth
The crypto hardware wallet company has named Circle veteran John Andrews to its chief financial officer role and established a New York headquarters as elements of a significant multi-million-dollar American expansion initiative, while the firm considers potential public market entry.
Hardware wallet manufacturer Ledger has brought on board John Andrews, a former senior executive from Circle, to fill the chief financial officer position while simultaneously launching a New York headquarters as components of its United States expansion strategy. Andrews held leadership positions in capital markets and investor relations during his tenure at Circle.
Based on the announcement made on Friday, the establishment of the New York headquarters represents a portion of a substantial multi-million-dollar capital commitment toward Ledger's American operations and is expected to generate dozens of new positions spanning enterprise development and marketing departments. The office will function as the central operations point for the company's institutional client services, which includes its Ledger Enterprise platform offering custody solutions and governance infrastructure for digital assets.
This strategic expansion arrives at a time when the company reports increasing demand from financial institutions, asset management firms, custody service providers and stablecoin issuers who are pursuing secure infrastructure solutions for digital assets.
During January, media reports suggested that Ledger was considering a United States initial public offering that might assign a valuation exceeding $4 billion to the French-based company, with conversations reportedly involving Goldman Sachs, Jefferies and Barclays. Throughout 2025, the company achieved a record-breaking year with respect to revenue performance.
Crypto IPOs expected in 2026
The expansion strategy being pursued by Ledger arrives as an increasing number of cryptocurrency firms are evaluating public market listings throughout 2026.
During November, Yat Siu, the founder of Animoca Brands, informed Cointelegraph that the company has set its sights on achieving a public listing by means of a reverse merger within this year, establishing it as an investment vehicle for gaining exposure to the wider cryptocurrency market.
During March, digital asset wealth management platform Abra revealed intentions to pursue public listing via a reverse merger transaction with special purpose acquisition company New Providence Acquisition Corp. III, establishing a company valuation at $750 million.
Major United States-based cryptocurrency exchange Kraken has been the focus of IPO speculation dating back to 2024. On Nov. 18, the company achieved a $20 billion valuation after completing an $800 million funding round, and in less than twenty-four hours afterward, confidentially submitted a draft registration statement to the Securities and Exchange Commission regarding a possible public offering.
Nevertheless, the filing occurred less than seven days after co-CEO Arjun Sethi stated the exchange was not "racing" toward going public. During this week, Reuters published a report indicating that Kraken has suspended its IPO preparations until market conditions demonstrate improvement.
Throughout 2025, initial public offerings related to crypto and AI delivered 13.9% returns on a weighted average basis, falling short of the S&P 500's 16% gain.