Exodus Exchange Won’t be Listed Until SEC Completes Review
- The listing of crypto exchange Exodus has been postponed.
- The listing process will resume once the SEC completes the firm’s review.
- The trading of the exchange’s Class A common stock was scheduled for May 9.
Exodus Movement, Inc. announced today that the NYSE American has postponed the listing of its shares until the Securities and Exchange Commission (SEC) completes its review of Exodus’ registration statement, which became effective on April 28, 2024.
Initially, the NYSE American had approved Exodus’ Class A common stock for listing, with trading set to start on May 9, 2024.
The delay in listing comes as a surprise to Exodus, which had been transparent and responsive throughout the process. CEO JP Richardson expressed optimism that the SEC would adhere to the law and resolve the matter promptly. Until then, Exodus’ Common Stock will continue trading on the OTC Markets’ OTCQX exchange under the symbol “EXOD.”
Richardson reassured current stockholders that no action is required on their part. He emphasized that despite the setback, Exodus remains committed to providing excellent service and value to its customers and shareholders.
The decision to postpone the listing raises questions about the reasons behind the delay and the potential impact on Exodus’ future plans. However, the company remains hopeful that it will eventually be listed on a national securities exchange once the SEC completes its review.
Exodus, a leading provider of cryptocurrency wallets and digital asset management tools, seeks to expand its presence in the blockchain industry. The delay in its listing does not diminish its achievements or its commitment to delivering top-notch services to its users, stated the release.
As per the release, the delay was unexpected. However, Exodus remains confident in its ability to navigate regulatory processes and emerge stronger. The company’s determination to uphold transparency and compliance reflects its long-term vision for success in the cryptocurrency market.
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