Investment

Exodus Wallet receives nearly $ 60 million in regulated cryptocurrency

Exodus crypto wallet provider raised more than $ 59 million in just five days when investors gathered to participate in a public offering.

Exodus Movement, Inc. based in Delaware began selling shares on April 8 in a sale that was approved by the US Securities and Exchange Commission (SEC). The shares were listed at $ 27.42 apiece with a maximum investment of 2,733,229 shares.

According to April 12 message, the bid will close once the maximum bid amount of $ 75 million is reached. The crypto wallet company is already 80% to achieve this goal with the participation of more than 4,000 investors.

The company noted that most investments came from retailers or non-accredited investors, with only 8% of the total coming from accredited investors.

Regulatory sales have allowed the company to reach investors with deep pockets and offer participation to those who have often given up selling securities. However, the sale was only available to investors domiciled in the United States, with the exception of Arizona, Texas, and Florida.

Exodus accepted payments in cryptocurrencies only using bitcoins, etherea or USDC instead of receiving fiat.

Exodus is currently exploring partnerships with alternative trading systems (ATS) that could potentially expand stock availability. The company intends to make Class A common shares available for trading on several platforms, including tZERO, within nine months of this offer, the report added.

tZERO is a SEC-compliant security token trading platform and a subsidiary of Medici Ventures, which is itself a subsidiary of the online reseller Overstock.

The multi-asset software wallet provider claims to have completed the largest regulated crypto offering to date, but the award is unlikely to last a day.

Coinbase is to list its shares on the Nasdaq in just an hour, which will undoubtedly be the largest supply of cryptocurrencies ever. The company’s valuation after its publication ranged between $ 60 billion and $ 140 billion and sentiment was tremendously positive from both the crypt and traditional financial markets.



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