Exodus Raises $59M, Mostly From Retail Investors

$75 million in shares were listed, priced at $27.42 each, but Exodus only accepted payment in bitcoin, ethereum or USD coin.

article-image

Exodus founders JP Richardson (left) and Daniel Castagnoli; Source: Exodus

share

key takeaways

  • Exodus has raised about $59 million since April 8 via a Regulation A sale
  • 92% of raised capital came from non-accredited investors

Crypto wallet provider Exodus has raised about $59 million in five days, almost entirely from non-accredited retail investors. 

The Delaware-based firm began selling stock on April 8 as part of a regulated public offering approved by the Securities and Exchange Commission. $75 million in shares were listed, priced at $27.42 each, but Exodus only accepted payment in bitcoin, ethereum or USD coin. 

Exodus has reached about 80% of their $75 million goal from over 4,000 investors. The Regulation A sale allowed retail investors to get involved, and only 8% of capital raised so far has come from accredited investors. 

The company is currently looking into expanding the availability of shares and hopes to have the Class A common stock on trading platforms within nine months, according to a release posted Monday. 

The public offering comes at a major moment for digital assets. Crypto exchange Coinbase is set to make its Nasdaq debut via direct listing Wednesday, becoming the just major crypto company to go public in the US. Coinbase valuations are expected to be between $60 billion and $140 billion. 

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (4).png

Research

Even as the most performant, widely used blockchain today, Solana is still far from perfect, prompting some teams to iterate upon some design choices while maintaining compatibility at the SVM execution layer. This report analyzes three emergent SVM chains (Eclipse, Atlas, and Fogo) to understand the motivations behind the technical architectures, as well as the current state and future outlook.

article-image

Fundamental investors are turning to token buybacks

article-image

A Glassnode report found that the accumulation range for bitcoin is ‘weak,’ indicating a decline in demand

article-image

CEO Bam Azizi said he’ll only be seeking stablecoin-exclusive funding rounds from now on

article-image

Sponsored

WalletConnect is set to deepen its role by integrating with emerging standards and expanding its utility across different onchain sectors

article-image

Zeta Markets has shipped testnet for Bullet, a low-latency “network extension,” the team told Lightspeed exclusively

article-image

Having passed Congress, the resolution will now head to Trump’s desk