NYSE American delays crypto wallet maker Exodus' listing due to SEC review

Crypto wallet developer Exodus Movement’s Class A common stock listing on the NYSE American has been postponed until the U.S. Securities and Exchange Commission finalizes its review of the company’s registration statement, the company said in a statement Wednesday.

Exodus Movement’s common stock, with ticker EXOD, was scheduled to start trading on the small cap equity trading platform from Thursday. Its CEO JP Richardson previously stated that being listed on NYSE American would help the company expand its presence and increase liquidity.

“While we are surprised and confused by this last-minute decision, we remain hopeful that the SEC will follow through on its commitment to treat us as the law intends,” Richardson said in the Wednesday statement . “Exodus has been fully transparent and responsive throughout this process and we expect a swift resolution in this matter.”

The company added that it may reconsider listing on a national securities exchange in the future once the SEC completes its review. In the meantime, EXOD will continue to trade on OTC Markets’ OTCQX.

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Exodus recorded $29.1 million in revenues in the first quarter of 2024, up 118% year-on-year, according to its preliminary review . It had monthly active users of around 1.69 million during the time period. 

Exodus Movement did not immediately respond to The Block’s request for further comment.