In a recent interview, Ledger CEO Pascal Gauthier shared his unwavering belief in the decentralized nature of cryptocurrencies.

Gauthier emphasized that any attempts to centralize crypto are doomed to fail, as centralization and crypto are “two magnets that are just not going to stick together.”

Gauthier discussed how the recent failures of major banks and incidents involving Celsius and FTX underscore the need for Bitcoin and self-custody solutions.

He explained that Bitcoin’s creation was a reaction to the 2008 financial crisis, emphasizing that central authorities cannot be trusted and will inevitably fail. When the market becomes stressed, and people fear for their savings, they turn to crypto and companies like Ledger for self-custody solutions.

Gauthier asserted that any attempts to centralize crypto are destined to fail, as the core principles of cryptocurrencies are rooted in decentralization.