Illustration: Rebecca Zisser / Axios

Ledger, a French developer of hardware wallets for cryptocurrency, said Thursday that it has raised around $75 million in new venture capital funding.

Why it matters: Because the startup's popularity — a source says it's profitable with around $56 million in 2017 revenue on more than a million wallets sold — reflects the fundamental contradiction of crypto securities: They are built on a technology most notable for its computer science breakthrough in verification (i.e., solving the Byzantine Generals Problem), but their unique/unrecoverable "keys" are prone to being lost or hacked without offline storage.

DFJ Esprit led the Series B round, and was joined by FirstMark Capital, Cathay Innovation, Korelya Capital and return backers CapHorn Invest, GDTRE and Digital Currency Group.

Proceeds will be used both to expand hardware production capacity (there is currently an order backlog) and also expand a new software business aimed at corporations and financial institutions that rely on large, in-house server structures.

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Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 p.m. ET: 31,201,975 — Total deaths: 963,068— Total recoveries: 21,356,412Map.
  2. U.S.: Total confirmed cases as of 11 p.m. ET: 6,833,931 — Total deaths: 199,815 — Total recoveries: 2,615,949 — Total tests: 95,841,281Map.
  3. Health: CDC says it mistakenly published guidance about COVID-19 spreading through air.
  4. Media: Conservative blogger who spread COVID-19 misinformation worked for Fauci's agency.
  5. Politics: House Democrats file legislation to fund government through Dec. 11.
  6. World: U.K. upgrades COVID alert level as Europe sees worrying rise in infections — "The Wake-Up Call" warns the West about the consequences of mishandling a pandemic.

Louisville police declare state of emergency as Breonna Taylor decision looms

A demonstrator holds up a sign of Breonna Taylor during a protest in Louisville, Kentucky. Photo: Brandon Bell/Getty Images

The Louisville police chief declared in a memo obtained by news outlets a "state of emergency" for the department on Monday to prepare for Kentucky Attorney General Daniel Cameron's expected announcement on the Breonna Taylor case.

Of note: Louisville has witnessed more than 115 days of protests over the police killing of Taylor, an unarmed Black woman, with calls for all the officers involved to be charged.

Sen. Cory Gardner on vacant Supreme Court seat: "I will vote to confirm"

Photo: Alex Wong/Getty Images

Sen. Cory Gardner (R-Colo.) will vote to confirm President Trump's nominee to replace the late Ruth Bader Ginsburg, he announced in a statement Monday.

Why it matters: The development is a win for President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). It should mean Republicans are all but assured to have enough support to hold hearings for Trump's potential nominee.

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