Ledger is one of the most prominent crypto wallets in the blockchain world. And it’s among the wallets that users have turned to during this major cryptocurrency winter.
The collapse of FTX and the subsequent market action caused large net outflows from centralized exchanges, since many users moved their funds to personal wallets, also commonly referred to as “non-hosted wallets.”
In addition, while the trend was not as pronounced as suggested by some, and probably did not signal a mass exodus from centralized exchanges (CEXs), in reality an increasing number of users were opting for self-custody and turning to DeFi protocols to conduct activities such as trading and lending.
Ledger volumes soared after the collapse of FTX
Following the collapse of FTX, Ledger encountered some problems due to massive outflows from exchanges. In fact, the company encountered massive utilization of their platforms and faced some scalability issues.
This is what Charles Guillemet, Chief T
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