Exodus Wallet Raises $60 Million in Regulated Crypto Public Offering
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Exodus Wallet Raises $60 Million in Regulated Crypto Public Offering

April 14, 2021      Jafrin Ahmed

Exodus crypto wallet has raised nearly $60 million since April 8 by selling stocks of the company to offer Regulated cryptocurrency. The sale was approved by the U.S. Securities and Exchange Commission (SEC) as the largest regulated crypto public offering ever.

Record-Breaking Crypto Public Offering by Exodus Wallet

Non-custodial cryptocurrency wallet company, Exodus has raised nearly $60 million in what’s known as the largest regulated crypto public offering. The firm received Regulation Approval for the third-ever Regulation A token offering.

The Delaware-based firm began selling its stock on April 8 in a sale that was approved by the U.S. Securities and Exchange Commission (SEC).

Users were able to acquire a minimum of one and a maximum of 2,733,229 Class A common Exodus Movement shares at $27.42 per piece.

READ  Ripple Sends Another Tranche In Jed McCaleb’s Wallet

However, instead of accepting U.S. dollars, Exodus only took digital assets such as Bitcoin, Ethereum, and USDC stablecoin in exchange for its common shares. The firm is planning is to tokenize the shares on a public blockchain within nine months.

Over 4,000 people have committed to investing in Exodus stock, with 92% of commitments coming from non-accredited investors, per an April 12 press release from Exodus.

The offering will close once the maximum offering amount of $75 million is reached. The crypto wallet company is already 80% towards reaching that target.

Major Investment from Non-Accredited Investors in Regulated Crypto

Exodus offered its customers a way to buy the tokenized shares through a mini-IPO under Reg A+ directly from within the wallet software.

Regulation A+ allows customers to invest in private companies whose stocks are not traded on a public stock exchange. The regulation is intended for startups to raise small amounts of capital from a large pool of investors.

READ  Enjin and MetaverseMe Partner to Merge NFTs with Augmented Reality

The firm noted that the majority of the investment has come from non-accredited investors with just 8% of the total coming from accredited investors.

The sale was only available to U.S.-based investors excluding the states of Arizona, Texas, and Florida.

#Exodus #Regulated Crypto Public Offering #Regulation A
Jafrin Ahmed
Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.