Crypto Wallet Provider Exodus’ NYSE American Stock Listing Postponed for SEC Review

Crypto
wallet
company
Exodus
Movement
will
not
be
listing
on
NYSE
American,
the
New
York
Stock
Exchange’s
sibling
market,
on
Thursday
as
planned,
the
company
announced
late
Wednesday.

NYSE
American
told
Exodus
on
Wednesday
that
U.S.
Securities
and
Exchange
Commission
staff
were
still
reviewing
Exodus’
registration
statement,
which
the
company
said
had
gone
effective
at
the
end
of
April,
according
to

an
Exodus
press
release.

Exodus
was
supposed
to
uplist
from
OTC
(over-the-counter)
trading,
the
company
announced

earlier
this
week,
with
its
Class
A
Common
Stock
continuing
to
trade
on
OTCQX
through
the
end
of
the
day
Wednesday.
Its
common
stock
will
now
continue
trading
on
OTCQX.

“The
Company
may
reconsider
listing
on
a
national
securities
exchange
at
a
future
date
once
the
SEC
Staff
has
completed
its
review
of
the
registration
statement,”
Wednesday’s
press
release
said.

The
uplisting
would
have
led
for
Exodus
“creating
long-term
value
for
our
investors
by
expanding
our
global
shareholder
base
and
boosting
stock
liquidity,”
Exodus
CEO
JP
Richardson

tweeted
earlier
this
week.

In
Wednesday’s
statement,
Richardson
said
the
company
was
“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.
Exodus
has
been
fully
transparent
and
responsive
throughout
this
process
and
we
expect
a
swift
resolution
in
this
matter,”
he
said.
“In
the
meantime,
we
will
continue
to
provide
the
best
possible
service
and
value
for
our
customers
and
shareholders.”