Cryptocurrency wallet developer Exodus Movement’s listing of its Class A common stock on 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 was scheduled to begin trading on the small-cap stock trading platform on Thursday under the symbol EXOD. CEO JP Richardson previously mentioned Listing on NYSE American will help expand the company’s presence and increase its liquidity.
“While I am surprised and confused by this final decision, I remain hopeful that the SEC will follow through on its promise to treat us as the law intends,” Richardson said Wednesday. name. “Exodus has been completely transparent and responsive throughout this process and we look forward to a prompt resolution to this matter.”
The company added that it may reconsider listing on the domestic stock exchange in the future once the SEC’s review is completed. In the meantime, EXOD will continue to trade on OTCQX in OTC Markets.
Exodus recorded sales of $29.1 million in the first quarter of 2024, a 118% increase compared to the same period last year. During that period, the number of monthly active users reached approximately 1.69 million.
The Exodus Movement did not immediately respond to The Block’s request for further comment.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.