Ledger, a hardware wallet manufacturer, announced in a blog post on October 5 that it will lay off 12% of its staff due to macroeconomic headwinds. CEO Pascal Gauthier said that the company had prepared for the bear market in early 2022 and had raised significant capital in the first two quarters of 2023. Gauthier also mentioned the upcoming launch of Ledger Recover, a feature that allows users to regain access to their wallet after losing key information. Despite the layoffs, Gauthier said that Ledger remains the leader in its area and that existing priorities are still in place. He also reported increased usage, revenue, and transaction volumes for the mobile app Ledger Live, as well as higher distributions of Ledger Nano devices and the recent Ledger Stax model, which features an e-ink display. Gauthier posted the letter publicly on the company’s blog for transparency reasons.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	8
People	Pascal Gauthier
Companies	Pascal Gauthier, Ledger, Ledger Stax, Ledger Nano, None, Ledger Recover
Currencies	None
Securities	None