Exodus CEO frustrated as SEC delays listing amid celebrations

Exodus hits regulatory roadblock despite previous approval as “numerous employees and their families” arrive in New York City to face disappointment.

Exodus is facing a delay in its New York Stock Exchange American (NYSE) listing pending the completion of the United States Securities and Exchange Commission’s (SEC) review of its registration statement, which went into effect on April 28.

The NYSE American previously approved the listing of Exodus’ shares of Class A common stock at a par value of $0.000001, expected to begin trading on May 9. However, due to the backpedal, Exodus’ transition from the OTCQX market to the NYSE American will be put on hold until the SEC completes its regulatory compliance process.

The delay in listing carries heavy implications for Exodus as the move to NYSE American would affect its visibility and potential financial market growth. This regulatory hurdle demonstrates a bottleneck crypto companies face when pursuing traditional finance (TradFi) regulated ventures.

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