Nexo

Start Earning Up to 16% Interest Automatically

Learn More
Home » Business » Exodus Wallet Offers Shares Ahead of Coinbase IPO

Exodus Wallet Offers Shares Ahead of Coinbase IPO

by

The crypto wallet company is trading shares on its own platform.

Exodus Wallet Offers Shares Ahead of Coinbase IPO
Shutterstock photo by Tiko Aramyan

Key Takeaways

  • Crypto wallet company Exodus has begun to sell corporate shares after gaining approval from the SEC this week.
  • The news comes ahead of upcoming stock offerings from Coinbase, Kraken, and Robinhood.
  • Exodus has chosen to trade shares on its own platform rather than on a mainstream stock exchange.

Share this article

Crypto wallet company Exodus has begun to sell shares of its company stock, according to a recent press release.

Exodus Begins to Offer Shares

Exodus says that it received permission this week from the U.S. Securities and Exchange to begin offering shares of its wallet company as Class A common stock under Regulation A.

The company began to sell the stock at 9:00 PM EST on Thursday, Apr. 8, 2021 at a price of $27.42 per share.

The company’s approach is unique due to the fact that it chose to sell shares on its own in-app trading platform rather on than mainstream exchanges. Exodus CEO JP Richardson explained on Twitter: “While the stock market was closed, we were selling Exodus stock in a crypto-only public offering all within Exodus.”

More Upcoming Offerings

The news comes less than a week before crypto exchange Coinbase plans to launch an IPO on the public stock market. Kraken, also a crypto exchange, doubled down on its plans to go public in 2022 after initially suggesting that course of action in late March.

Stock and crypto trading company Robinhood is additionally planning a stock offering, according to recent reports.

While early blockchain companies tended to carry out crypto-based ICOs rather than stock offerings, regulations have made it difficult to run an ICO. Furthermore, the companies listed above are all well-established and have attracted corporate and VC investments in the past. Stock offerings may appeal to those same investors.

Those factors could partially explain why crypto exchanges are turning toward traditional stock offerings.

At the time of writing this author held less than $75 of Bitcoin, Ethereum, and altcoins.

Share this article

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.