According to Exodus, its EXOD common stock will be tokenized on the blockchain, making it the only American company doing so.According to Exodus, its EXOD common stock will be tokenized on the blockchain, making it the only American company doing so.
Stay in the know on crypto by frequently visiting Crypto News Today
The company announced on Monday that Exodus Movement, the software developer behind the Exodus Wallet for Bitcoin, has received approval to list its common stock on the New York Stock Exchange.
CryptoCaster Quick Check:
The NYSE’s EXOD ticker denotes a recent increase in enforcement actions by government regulators against cryptocurrency projects and developers. Although that should undoubtedly raise some red flags, JP Richardson, the CEO and co-founder of Exodus, stated that the company has received approval from the U.S. Securities and Exchange Commission and is authorized to trade on NYSE American, formerly known as the American Stock Exchange (AMEX).
The only company in the US with tokenized common stock is us, according to Richardson, “because our common stock is tokenized on the Algorand (ALGO) blockchain.” This is a really cool feature. “That is accurate as of right now, and it is accurate as of Thursday as well.”
Exodus is able to raise money from the public in a controlled way thanks to its SEC qualification, which indicates that the business has been given permission to offer and sell shares of its Class A common stock to investors in accordance with Regulation A of the Securities Act.
In 2021, Exodus went public by listing its stock on the broker-dealer tZero. Exodus started selling common stock on April 8 and raised $60 million by April 13, 2021.
The EXOD stock, which is currently traded on the OTCQX exchange, will stay available there until May 8, according to the company. On May 9, it will start trading on the NYSE American.
According to Richardson, one advantage of tokenizing the EXOD stock is that it will facilitate and expedite investor trading.
According to him, “it functions exactly like a cryptocurrency, which is amazing in terms of usability.” Beyond that, if you consider consequences such as dividend payments, we may use USDC to distribute dividends to stockholders on a blockchain.
“Corporate governance could be implemented through direct voting and governance on the blockchain using stock,” he continued.
Richardson called it a new era of stocks being tokenized on the blockchain and expressed optimism about the future of publicly traded digital assets despite the SEC’s crackdown on cryptocurrencies.
He declared, “We envision a time when traditional stocks are powered by the blockchain.” “I believe that’s the best part of all this hard work we’re doing,”
We hope you found this article insightful. Before you go, please consider supporting CryptoCaster’s independent journalism.
In the world of media owned by billionaires like Elon Musk, Larry Fink (BlackRock), and Jamie Dimon (JP Morgan Chase), influence over narratives surrounding cryptocurrency and Web3 often reflects their interests. CryptoCaster is different. With no billionaire backers or shareholder obligations, we are committed solely to public interest journalism, covering crypto advancements and institutional changes without profit-driven motives.
Unlike much of mainstream media, which can fall into neutrality traps that obscure the real impacts on retail investors, we’re guided by transparency and integrity. We are unafraid to take a stand in the ongoing struggle against fiat banking dominance and in support of the monetary innovation driven by crypto and Web3. Reporting on issues like FTX, Binance, and Ripple, we bring a bold, unfiltered outsider’s view on global financial disruption—free from the constraints of traditional media narratives.
CryptoCaster remains paywall-free, accessible to everyone, thanks to the support of readers like you. Your contributions keep us independent and help ensure that critical information on the crypto landscape reaches all. If you value our work, please consider supporting us with a one-time contribution starting at just $1 in Bitcoin or Ether, or even monthly if you’re able. Scroll down to find our wallet addresses and help keep CryptoCaster independent and thriving.
Thank you for your support,
Kristin Steinbeck
Editor, CryptoCaster
Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.
Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
CRYPTOCASTER HEATMAP
