Home » Cryptocurrency News » Cryptocurrency News » Exodus Wallet raises almost $60M in crypto in regulated offering Exodus Wallet raises almost $60M in crypto in regulated offering April 13, 2021 Exodus’ claimed record share sale is set to be shattered by Coinbase later today.
1981 Total views
24 Total shares
Crypto wallet provider Exodus has raised more than $59 million in just five days as investors flocked to participate in the public offering.
Exodus Movement, Inc., a firm based in Delaware, began selling stock on April 8 in a sale that was approved by the U.S.Securities and Exchange Commission (SEC).The shares were listed for $27.42 apiece with a maximum investment of 2,733,229 shares.
According to an April 12 report, the offering will close once the maximum offering amount of $75 million has been reached.The crypto wallet company is already 80% towards reaching that target with participation from over 4,000 investors.
The firm noted that the majority of the investment has come from retail traders or non-accredited investors with just 8% of the total coming from accredited investors.
The Regulation A sale allowed the firm to reach beyond deep-pocketed investors and offer participation to those often left out of securities sales.However, the sale was only available to U.S.-based investors excluding the states of Arizona, Texas, and Florida.
Exodus accepted payments in crypto only using Bitcoin, Ethereum, or USDC instead of accepting fiat.
Exodus is currently exploring partnerships with alternative trading systems (ATS) that could potentially expand the availability of the shares.The firm intends to make the Class A common stock available for trading on several platforms including tZERO within nine months of this offering, the report added.
tZERO is a SEC-compliant security token trading platform and a subsidiary of Medici Ventures, which itself is a subsidiary of online retailer Overstock.
The multi-asset software wallet provider claims to have completed the largest regulated crypto offering to date, however, that accolade isn’t likely to last the day.
Coinbase is due to list its stock on the Nasdaq stock exchange just hours from now, which will no doubt be the largest crypto offering ever.
Valuations for the company once it goes public have been between $60 billion and $140 billion, and sentiment has been overwhelmingly positive from both the crypto and traditional financial markets.Share this: Aerospace giant Thales uses blockchain to comply with NATO standards Blockchain tech is handy for complying with NATO standards in aerospace and defense.
3625 Total views 27 Total shares Thales, a French multinational company specializing in products and services for aerospace and defense industries, is using for a new management system at its production hub in Spain.According to an official announcement on Nov.… Ethereum 2.0 Devs Discuss Medalla Issues as Network Stabilizes Following the successful but imperfect launch of the Medalla testnet, the first community testnet for Ethereum 2.0, developers spoke on the issues and needed improvements highlighted by the event.In an Eth 2.0 Dev call held on Aug.6, the network’s client developers discussed what initially went wrong.As Cointelegraph previously reported, it took some time for… Ethereum Devs Once Again Approve ASIC-Resistant Algorithm ProgPoW Ethereum (ETH) core devs once again discussed the proposed Application Specific Integrated Circuit (ASIC)-resistant Proof of Work (PoW) algorithm ProgPoW during their weekly meeting on March 15.This week, the devs again reached an overall consensus that the algorithm should be implemented, while the timeline for its implementation remains unclear.When discussing the algorithm, the developers… Germany’s 2nd Largest Stock Exchange Boerse Stuttgart Launches Crypto Trading App Germany’s second largest stock exchange, Boerse Stuttgart Group, has officially launched its crypto-trading app Bison, according to an official tweet today, Jan.31.According to the app’s webpage, the software was developed by FinTech Sowa Labs — a subsidiary of Boerse Stuttgart Digital Ventures.The developers’ reported aim in making the app is to ease access… US Retail Giant Overstock to Use Bitcoin to Pay Its Taxes in Ohio United States retailer Overstock.com has announced it will pay part of its business taxes in the state of Ohio using Bitcoin (BTC), according to an announcement on its website Jan.3.Overstock will cover commercial activity taxes (CAT) with Bitcoin starting February, using the recently launched cryptocurrency taxpayer platform, OhioCrypto.com.The company’s CEO and founder Patrick Byrne… Switzerland’s ‘Crypto Valley’ Zug Ranked ‘Fastest-Growing’ Tech Hub in Europe The Swiss city of Zug, home to crypto and blockchain development hub “Crypto Valley,” has been ranked the fastest-growing tech community in Europe.Swiss startup news channel StartupTicker reported this on Dec.6.According to the latest annual “State of European Tech” report from London-headquartered global technology investment firm Atomico, Zug came out top in a… Tron Launches Djed, a Platform That Looks Suspiciously Like MakerDAO On March 28, Tron (TRX) founder Justin Sun tweeted to announce the release of Djed, a system for collateralized loans he described as “something new.” The platform was immediately criticized as many see it as a plagiarized version of MakerDAO (MKR).Sun teased the launch on Jan.
16 when Sun let his fans choose the name… SWIFT to Allow GPI Payments on Blockchain Platforms The Society for Worldwide Interbank Financial Telecommunications (SWIFT) will allow distributed ledger technology (DLT) firms to use its global payments innovation (GPI) platform, according to a recently published report.In the report, SWIFT revealed that it will soon allow GPI payments on DLT-base platforms.The product will purportedly increase savings in reconciliations and boost the movement… What death spiral? Bitcoin mining difficulty rises by 9% since halving After the May 11 halving, some skeptics speculated that miners would capitulate or that the entire process would enter a death spiral.Fast-forward three months and the Bitcoin (BTC) hash rate is at a record high.An all-time high hash rate and a stable Bitcoin mining industry are both positive signs for the medium to long-term… .