Ledger, the French maker of hardware wallets for crypto assets, is reportedly moving ahead with plans for a potential initial public offering (IPO) in New York, signaling continued momentum in public market interest for digital asset companies.
The listing would place Ledger among a growing group of crypto firms seeking access to US capital markets, following the recent public debut of BitGo earlier this week.
Ledger Taps Wall Street Giants For US IPO
The move comes amid a broader initial public offering wave that gained strong traction throughout 2025, when several major crypto-native companies either went public or began laying the groundwork to do so.
Firms such as Circle (CRLC), Bullish (BLSH), eToro (ETOR), Figure (FIGR), and Gemini (GEMI) have already gone public in the US, while Grayscale and Kraken remain part of the renewed IPO push, with filings submitted and preparations still underway.
According to a report by the Financial Times, Ledger has engaged investment banks including Goldman Sachs and Barclays to advise on its initial public offering in the United States.
People familiar with the matter say the offering could value the company at more than $4 billion. While the IPO could take place as soon as this year, sources cautioned that the plans remain subject to change.
Ledger’s reported IPO ambitions come as BitGo opened trading on Thursday with its shares jumping 24.6%, giving the company a valuation of approximately $2.59 billion.
BitGo and several of its existing shareholders sold 11.8 million shares priced above the initially marketed range of $15 to $17, raising $212.8 million in the process.
BitGo Sets Tone For 2026 Crypto IPOs
Market experts have pointed to BitGo’s performance as an important signal for the broader crypto IPO landscape. Lukas Muehlbauer, an IPOX research associate, described BitGo’s listing as the first major test of investor demand for crypto-related offerings in 2026.
He noted that while Gemini went public near the peak of the crypto market last year, BitGo entered the market during a period of recent selloffs, making its reception particularly telling.
Muehlbauer added that BitGo’s positioning as a profitable and regulated “digital asset infrastructure company,” rather than a business tied directly to token price movements, helped insulate it from “Bitcoin’s (BTC) day-to-day volatility.”
Beyond Ledger, expectations are building that the pipeline of crypto IPOs will continue to grow. In addition to Kraken and Grayscale, industry experts believe the coming year could bring an even larger number of crypto-related IPOs in the US.
“2025 marked the professionalization of crypto, and the public markets noticed,” said Mike Bellin, a partner at PwC who leads the firm’s US IPO practice.
Some offerings, however, have faced delays. Elliot Han, chief investment officer at C1 Fund, said that the fourth quarter could have seen an even higher number of IPOs.
He pointed to the federal government’s prolonged shutdown as a key factor that pushed several listings into the first quarter of 2026. Han also noted that heightened stock market volatility toward the end of the third quarter added further complications.
Featured image from DALL-E, chart from TradingView.com
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Cardano’s (ADA) current price may look tempting, especially as it sits deep in oversold territory, but cheap doesn’t always mean opportunity. When momentum is absent and structure remains weak, early buyers often find themselves stuck watching price drift sideways for weeks. For ADA, the real question isn’t how low it has gone; it’s whether it has the strength to escape.
Trapped In the Red Zone: Pressure, Not Opportunity
Trend Rider, in a recent update shared on X, explained that ADA’s daily chart has been flashing signals that many traders interpret as a “perfect bottom.” With the price sitting at the lower end of the bands and deep in the red, the temptation to buy looks obvious. However, Rider cautioned that low prices alone are not a guarantee that a move higher is ready to begin.
According to the analysis using the Rider Algo, Cardano is currently pinned inside a dark red zone. While some see this area as a solid floor, Trend Rider views it as a zone of heavy pressure and exhaustion, where price often drifts sideways for extended periods, leaving traders stuck in unproductive consolidation.
Rider emphasized that trying to catch absolute bottoms rarely works out, often resulting in either catching a falling knife or watching capital remain stagnant while other assets show clearer momentum. As a result, Rider’s focus is not on buying at the lowest possible price, but on waiting for confirmation that strength is returning as the key is not support, but escape.
Trend Rider expects Cardano to demonstrate the ability to climb out of the red zone with conviction. Specifically, the analyst is watching for a decisive breakout and a daily close above the $0.45 level. Until that happens, the bears still control the market structure. For now, Rider’s plan is to enter at a higher price with confirmed momentum than gamble on a “perfect bottom” and hope it holds. Currently, trading is about correct timing, not arriving first.
Cardano Buyers Defend $0.33–$0.36
From Marcus Corvinus’s analysis, Cardano is currently reacting from a key demand zone between $0.33 and $0.36, an area where buyers have previously stepped in to defend the price. This zone is now under close watch as it could once again play a crucial role in determining the next move.
Corvinus noted that if the demand zone holds and bullish momentum begins to build, ADA could see a more sustained bounce, potentially opening the way toward the next major resistance level around $0.53. As things stand, this area is shaping up to be a decision point for the market. Continued buyer defense could help rebuild structure and gradually shift pressure back to the upside.
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For Gen Z military families, navigating life in their early-to-mid 20s means wading their way through unique challenges that can get overwhelming pretty quickly. Between frequent relocations, long deployments, unpredictable life schedules and limited early-career earnings, financial planning is more than a good idea — it’s essential for long-term stability.
According to the Congressional Research Service, 40% of active-duty military personnel are age 25 or younger, right within the Gen Z age group. Yet these same service members face the brunt of frequent moves, deployments and today’s rising cost of living.
This guide is designed specifically for Gen Z service members and their spouses, helping them understand their financial situations, insurance options, avoid common financial pitfalls and build stable careers, all while dealing with the real-world pressures of military life.
Financial pressures Gen Z military families face
While budgeting, insurance and retirement planning are critical, it’s also important to get a real sense of the actual financial stressors younger military families are grappling with:
Living paycheck to paycheck. Even with basic allowance for housing and basic allowance for subsistence, many junior enlisted families still find it hard to keep up with rising living costs. This becomes even more of a precarious situation when you add in dependents.
Delayed reimbursements during permanent change of station (PCS) moves, creating short-term cash crunches.
Limited emergency savings. The Military Family Advisory Network’s (MFAN) 2023 survey found 22.2% of military families had less than $500 in savings.
Predatory lending, with high-interest auto or payday lenders near bases disproportionately targeting young servicemembers.
Military spouse underemployment, leaving household income vulnerable when frequent moves disrupt career continuity.
MFAN also found that nearly 80% of respondents spend more on housing than they can comfortably afford, and 57% experienced a financial emergency in the past two years. These aren’t abstract concerns that most young servicemembers and their families can just ignore, hoping that they’ll never be impacted; these are everyday realities for Gen Z military families.
Insurance best practices
Adult life is just getting started in your 20s, and navigating insurance options can feel overwhelming. But taking the time to learn your choices will set your family up for a secure financial future.
Life insurance: Most servicemembers are automatically enrolled in Service Members’ Group Life Insurance (SGLI), with Family Servicemembers’ Group Life Insurance (FSGLI) extending coverage to spouses and children. Review coverage annually. Also, compare options across SGLI, FSGLI and trusted military nonprofits to find what fits your family best.
Disability insurance: Often overlooked, this protects your family if an injury prevents you from working, even off-duty. Supplemental private coverage can be wise if your lifestyle expenses exceed your military pay.
Renters insurance: Essential for families who move often; it protects your belongings through relocations.
Healthcare: TRICARE provides strong coverage, but learn the details on copays and referrals, especially when stationed overseas.
Common financial missteps and how to fix them
Mistake #1: Overbudgeting and lack of budgeting
BAH and BAS are designed to offset housing and food costs, not fund lifestyle inflation. Stick to a budget that keeps fixed expenses well below your income. Free tools from Military OneSource can help track spending.
Mistake #2: Not saving for retirement
Retirement may feel far away, but starting early has an outsized impact. Contribute at least 5% to your Thrift Savings Plan (TSP) — a military contribution retirement program similar to that of a 401k — to secure the full Defense Department match. Even small contributions now can grow into hundreds of thousands later.
Mistake #3: Misusing credit or loans
Predatory lenders near bases often target young servicemembers. Try to avoid any predatory or misleading lenders. Instead, consider a secured credit card or an on-base credit union to build credit responsibly. Always be sure to pay your balance in full.
Mistake #4: Skipping an emergency fund
PCS moves, car repairs or medical costs can’t always be predicted. Start small: Even $10 to $20 per week automatically transferred to savings helps to build a safety net. According to MFAN’s 2023 survey, enlisted families with children that have undergone recent PCS moves are most likely to face financial hardship, making an emergency cushion critical.
In addition to avoiding pitfalls, here are realistic strategies to strengthen your finances:
Tap military relief organizations like Army Emergency Relief (AER) or Navy-Marine Corps Relief Society (NMCRS) for interest-free loans or grants during emergencies.
Plan for post-military life: Keep in mind that SGLI and other benefits change once you leave active duty. Compare nonprofit alternatives early to avoid gaps.
Leverage nonprofits you can trust: Some offer competitive life insurance, savings products or financial counseling designed for servicemembers’ long-term interests.
Budget with inflation in mind: Rising costs are hitting Gen Z hard. Nearly 48% say they don’t feel financially secure, and over 40% say they’re struggling to make ends meet. Prioritize life’s essentials and be realistic about what you can afford outside of them.
Maintaining a career as a military spouse
Frequent relocations are undoubtedly disruptive, but they don’t have to end career growth. Military spouses may want to focus on careers that can easily move around with them, like healthcare, education, IT or freelancing.
Take advantage of programs like MyCAA, which offers $4,000 in tuition assistance for career training; Military OneSource, which offers resume assistance, free career coaching and financial counseling; and Hiring Our Heroes, which offers networking opportunities and job placement assistance for military spouses. These programs can help reduce underemployment and strengthen household stability, especially during tempestuous times like during and after a PCS move.
Putting it all together
Starting adulthood, a military career and a family all at once is an incredibly challenging undertaking. The financial pressures are real, but with the right knowledge and proactive steps, Gen Z military families can turn instability and uncertainty into long-term security.
By understanding insurance options, making smart money moves, tapping into military-specific resources and planning ahead for life after service, families can not only weather the unpredictability of military life, but also build strong financial foundations for the future.
Alejandra Cortes-Camargo is a brand marketing coordinator at Armed Forces Mutual.
BitGo Holdings marked a milestone on January 22 celebrating its debut as a publicly traded company on the New York Stock Exchange under the ticker symbol BTGO.
Members of BitGo’s leadership team rang the NYSE Opening Bell at 9:30 a.m. ET formally ushering the digital asset infrastructure provider into the public markets.
“Today marks a defining moment for BitGo,” said Mike Belshe, chief executive officer and co-founder of the company. “Our entry into the public markets will enable us to further accelerate the financial system’s transition toward a transparent and credible digital asset economy, while continuing to deliver exceptional security, custody and liquidity solutions for our clients.”
BitGo’s public debut follows more than a decade of growth focused on secure and compliant digital asset services. The company began as a pioneer of multi-signature security and institutional-grade wallets before expanding its offering to include regulated custody, trading and infrastructure services.
Over time, BitGo established BitGo Bank & Trust, a nationally chartered digital asset bank, and launched BitGo Prime Trading alongside an OTC trading desk.
The company has also expanded into Stablecoin-as-a-Service and Crypto-as-a-Service offerings, positioning itself as a core infrastructure provider for institutions operating in digital assets.
Scale and Global Reach
As of September 30, 2025, BitGo served more than 4,900 clients across over 100 countries and supported more than 1,550 digital assets. Its client base spans digital asset ecosystems, financial institutions, technology platforms, corporations and government entities.
From its origins in safety and security, BitGo has developed a comprehensive product suite covering self-custody wallets, qualified custody, liquidity and prime brokerage services, and infrastructure-as-a-service for builders and investors across the crypto economy.
Positioning for the Next Phase of Digital Finance
Headquartered in Sioux Falls, BitGo has built its reputation around regulatory compliance and institutional trust at a time when digital asset markets are increasingly intersecting with traditional finance.
As a newly listed company, BitGo said it plans to leverage its public market profile to further strengthen its infrastructure and expand its role within the evolving digital financial system.
Belshe said the company’s next chapter will focus not only on BitGo’s own growth, but also on supporting the broader resilience of the digital asset ecosystem. “We believe the opportunity ahead is significant and that we are uniquely positioned to help institutions navigate the road ahead,” he said.
BitGo’s listing comes amid renewed interest in crypto-related equities, as investors look for regulated, infrastructure-led exposure to the digital asset economy.
BitGo Holdings has priced its initial public offering at $18 per share, which would value the offering at approximately $212.8 million and place its valuation at over $2 billion on a fully diluted basis. BitGo will be offering 11,026,365 Class…
BitGo Holdings has priced its initial public offering marking a huge milestone for the crypto industry as one of the first digital asset infrastructure firms to go public in 2026.
In a statement released Wednesday, BitGo said it had priced its upsized IPO at $18.00 per share offering an aggregate of 11,821,595 shares of Class A common stock. The offering reflects strong investor demand as public market appetite for crypto-related infrastructure shows signs of recovery.
Offering Structure and Share Allocation
The IPO consists of 11,026,365 shares of Class A common stock offered by BitGo and 795,230 shares sold by certain existing stockholders. The company said it will not receive any proceeds from the sale of shares by selling stockholders.
BitGo has also granted underwriters a 30-day option to purchase up to 1,770,000 additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions.
NYSE Listing and Trading Timeline
BitGo’s shares are expected to begin trading on the New York Stock Exchange on January 22, 2026, under the ticker symbol BTGO. The offering is expected to close on January 23, subject to customary closing conditions.
The listing positions BitGo among a small but growing group of crypto-native firms accessing public equity markets amid improving investor sentiment.
Backbone of Institutional Crypto Infrastructure
Founded as a crypto custody and infrastructure provider BitGo has become a core service provider for institutional participants in digital assets. Its offerings span custody, wallet infrastructure, settlement, staking and treasury management, supporting exchanges, asset managers and corporate clients.
The public debut comes as interest in crypto-related equities shows signs of recovery, driven by stabilising markets and renewed institutional engagement.
Banks and Regulators Involved
The IPO is being led by Goldman Sachs & Co. LLC as lead book-running manager, with Citigroup acting as a book-running manager.
Additional book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Canaccord Genuity and Cantor. Clear Street, Compass Point, Craig-Hallum, Wedbush Securities, Rosenblatt and SoFi are acting as co-managers.
A registration statement relating to the offering was declared effective by the U.S. Securities and Exchange Commissionon January 21 with the offering being made solely by means of a prospectus.
Market participants view BitGo’s IPO as a potential bellwether for the 2026 crypto IPO pipeline with its post-listing performance likely to influence whether other digital asset infrastructure and services firms pursue public listings in the months ahead.
BitGo has expanded its institutional OTC trading platform to support derivatives, strengthening its push to offer regulated infrastructure for digital asset strategies.#BitGo#Derivativeshttps://t.co/UoFz5hyLcd
The move allows institutions to trade OTC derivatives directly with a BitGo trading entity while keeping client collateral in separately regulated BitGo custody.
The expansion comes as institutional participation in crypto markets continues to mature, with growing demand for complex trading strategies executed alongside robust risk management and custody safeguards.
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A rendering of the future Amazon superstore outside of Chicago, from an Orland Park, Ill., planning document.
Amazon has spent two decades trying to disrupt Walmart’s dominance. Now, it appears the e-commerce giant is taking those efforts to a whole new scale.
A new proposal for a massive, 229,000-square-foot Amazon facility in suburban Chicago looks and feels a lot like a classic Walmart superstore but with distinctive Amazon elements, including the ability to order items via app or kiosk for fulfillment from the back of the store.
The company describes the plans as part of its culture of experimentation — calling it “a new concept that we think customers will be excited about.” Amazon says the store will offer fresh groceries, household essentials, and general merchandise, making it convenient for customers to shop a broad selection of items in one trip.
“This could just be another experiment, but as experiments go, it reveals a degree of Walmart jealousy that we didn’t expect,” wrote analysts Mike Levin and Josh Lowitz of Consumer Intelligence Research Partners (CIRP), in a report to subscribers this morning.
CIRP notes that while Amazon dominates e-commerce, online shopping accounts for less than 20% of U.S. retail spending, leaving the vast majority of consumer dollars on the table.
Amazon has tried a variety of physical retail formats over the years, with mixed results, in addition to its acquisition of Whole Foods for $13.7 billion in 2017. Whole Foods CEO Jason Buechel was named a year ago to oversee Amazon’s Worldwide Grocery Stores business, including its Amazon Fresh stores.
The company says it already serves more than 150 million grocery shoppers in the U.S., generating over $100 billion in grocery sales in 2024.
But with data showing that 93% of Amazon customers still shop at Walmart, CIRP suggests this new superstore concept is Amazon’s admission that capturing the remaining addressable market requires building a physical moat that rivals the scale and utility of its biggest competitor.
While the footprint screams “traditional big box,” the plans signal that Amazon is attempting to put its own spin on the superstore format.
Filings with the Village of Orland Park indicate that a large portion of the building’s floor plan is designated for “back of house” operations that support in-store and pickup orders. Part of the idea is to solve a headache that plagues modern grocery stores: the clash between in-store shoppers and gig-economy workers.
During an Orland Park planning commission hearing, an Amazon rep described a tech-enabled experience where the digital and physical worlds merge for general merchandise.
A customer might find a sweater on the rack in blue, but want it in red. Instead of searching through piles of inventory, they could use a dedicated app or in-store kiosk to request the item from the back room, picking it up at the front counter when they are finished shopping.
This is similar to an Amazon experiment at its Whole Foods locations — building a “store within a store” to bridge the gap between niche organic offerings and mass-market items.
Amazon last fall unveiled an automated micro-fulfillment center attached to a Whole Foods in Plymouth Meeting, Pa. The concept allows shoppers to browse organic produce in the aisles while simultaneously ordering non-Whole Foods items — like Tide Pods, Pepsi, or Doritos — via an app. Robots in the back pick the items, and the full order is ready for the customer on site.
The Orland Park superstore appears to be an industrial-sized evolution of that experiment.
“We like to explain it as: ‘It’s the best that Amazon has to offer under Whole Foods, Fresh and their online offerings,’ ” said Katie Jahnke Dale, a lawyer representing Amazon at the hearing.
The site plan includes dedicated queuing areas for delivery drivers and separate pickup lanes for customers, streamlining the flow of goods without disrupting the in-store experience.
The planning commission voted 6-1 to recommend approval of the project. The proposal now heads to the Orland Park Village Board of Trustees for a final vote, which is scheduled for Jan. 19. If approved, village officials estimate the store could open in late 2027.
Crypto custody firm BitGo has launched its initial public offering, seeking to raise up to $201 million, according to a filing with the U.S. Securities and Exchange Commission.
The Palo Alto, California-based company is offering roughly 11.8 million shares of Class A common stock at an expected price range of $15 to $17 per share.
The offering includes 11 million shares sold by BitGo and about 821,600 shares offered by existing stockholders, with the company not receiving proceeds from those secondary sales. Underwriters will also have a 30-day option to purchase up to an additional 1.77 million shares.
Founded in 2013, BitGo is one of the largest crypto custody providers in the U.S., offering secure storage and infrastructure services for digital assets as institutional participation in crypto continues to expand.
The company plans to list on the New York Stock Exchange under the ticker symbol BTGO. Goldman Sachs is serving as lead book-running manager, with Citigroup and several other banks participating in the offering.
Bitgo receives nod from OCC
In December, Bitgo was one of five digital asset firms to receive conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to become a federally chartered national trust bank, alongside Ripple, Circle, Fidelity Digital Assets, and Paxos.
The decision marked a significant step in bringing major crypto companies further into the U.S. federal banking system.
The conditional approvals allow the firms to convert from state-level trust charters to national trust bank status, pending the fulfillment of OCC requirements. Once finalized, the companies will join roughly 60 existing national trust banks overseen by the OCC, enabling them to offer fiduciary and custody services nationwide.
Unlike full-service national banks, trust banks cannot take deposits or issue loans, but they can safeguard and manage customer assets, including digital assets.
BitGo’s IPO adds to the growing wave of crypto companies testing the public markets, but it stands apart from the usual exchange-led listings. Instead of relying on trading activity, BitGo makes its money by providing custody, compliance, and infrastructure services tied to safeguarding digital assets.
That difference could resonate with regulators and investors who have grown more cautious about trading-driven crypto businesses.
As attention shifts toward firms focused on compliance, settlement, and asset protection, BitGo’s debut fits a broader narrative gaining momentum in U.S. markets.
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