According to The Block, increased concerns around security following Binance's $40 million hack last week may have given crypto custody hardware and software provider Ledger a sales bump. Pascal Gauthier, CEO of Ledger, told the audience at The Block's Atomic Swap conference in New York that sales doubled in the wake of the hack.
"Binance got hacked, and the day Binance got hacked, our sales doubled," said Gauthier.
Security is crucial to the growth of optimism surrounding crypto, according to Gauthier. He said that it can be stressful delivering a product so crucial to security. In the event of a drastically increased market cap, from the billion to trillion territory, security becomes even more challenging. In the event of a stark increase, he said Ledger would need additional investment to match the security concerns.