Exodus Wallet Developer Delays NYSE Listing

Exodus Movement, a developer of non-custodial software, has postponed its stock listing on the New York Stock Exchange (NYSE) pending review by the SEC.

The procedure was initially planned for May 9.

The issuer explained the decision as a continuation of the regulator’s review of the securities registration application.

It was anticipated that following the listing, trading of Exodus shares on the over-the-counter platform OTCQX would cease.

“The company may reconsider listing its securities on a national exchange in the future once SEC staff complete their review of the registration statement,” the press release stated.

Exodus CEO J.P. Richardson acknowledged that the firm was “surprised and confused by this last-minute decision [by the Commission].”

“We remain confident that the SEC will fulfill its obligation and treat us as the law requires. Exodus has been fully transparent throughout the process. We expect a swift resolution to this matter,” the document asserted.

Founded in 2015, Exodus developed the eponymous cryptocurrency wallet. In 2021, the company went public, conducting a token sale of $75 million and obtaining a securities listing on the tZERO platform. 

Earlier in January, Circle Internet Financial, co-issuer of the USDC stablecoin, confidentially filed for an IPO in the United States. 

In February, the crypto-friendly investment platform eToro also considered conducting an IPO.