Exodus Takes the Leap into Public Trading
In a significant move for the cryptocurrency world, Exodus, the widely used software cryptocurrency wallet, has entered the public arena by launching on Securitize Markets. This milestone comes after Exodus successfully raised a hefty $75 million through a crowdfunding initiative, showcasing the rising interest in digital assets.
Trading Under the Spotlights
Starting from Wednesday, anyone with an internet connection in the U.S.—and even more than 40 countries worldwide—can jump in on the action by trading Exodus Class A common stock. Known by its ticker symbol EXOD, these shares are digitally represented on the Algorand blockchain, blending traditional stock trading with the innovation of blockchain technology.
Bringing in Retail Investors
Exodus is clearly excited about this development. CEO and co-founder JP Richardson stated, “Securitize’s platform allowed us to onboard over 6,800 mostly retail investors and raise $75 million. Now, with the trading of Exodus shares on their platform, it’s all under one roof.” Talk about a grand opening party!
A Look at the Numbers
Prior to this public listing, Exodus joined hands with tZero in September 2021. According to the latest reports, Exodus had initially priced its shares at $27.42. However, stock market fluctuations have led the share price to dip, and as of Monday, it was trading at around $15.9. Remember, folks, it’s a wild ride in the world of cryptocurrency!
Waving the Flag for Future Listings
The CEO of Securitize, Carlos Domingo, believes that the trading of Exodus shares could set an example for other private businesses seeking to raise capital. He remarked, “Now that Exodus shares are available for retail investors to trade on Securitize Markets, we’ve created a bigger market for their shares, enhancing price discovery and liquidity.” It seems like a win-win situation!
Exodus on the Rise
Founded in 2015, Exodus is not just a wallet; it’s integrated with a decentralized crypto exchange, making it a major player in the space. The company recently reported nearly $96 million in revenue for the fiscal year of 2021, a jaw-dropping 350% increase year-over-year. Now that’s a success story worth telling!
