Exodus Movement has appointed Receivers in the UK to control three W3C subsidiaries due to loan default.
Quiver AI Summary
Exodus Movement, Inc., a self-custodial cryptocurrency platform, has appointed Receivers in the UK to take control of three subsidiaries of W3C Corp: Monavate Holdings Limited, Monavate Ltd, and Baanx.com Ltd, following W3C's default on a $70 million secured loan. After declaring the loan payable on demand and not receiving repayment, Exodus initiated this action to protect its interests as a secured lender. The Receivers, consisting of experienced professionals from AlixPartners, plan to oversee the sale of these subsidiaries, with Exodus intending to participate as a bidder. CEO JP Richardson reassured stakeholders that operations for Monavate and Baanx will remain unchanged during this process.
Potential Positives
- Exodus Movement, Inc. took decisive action to protect its interests as a secured lender by appointing Receivers for W3C Corp's subsidiaries after a loan default, demonstrating strong governance and risk management.
- The appointment of experienced Receivers from AlixPartners suggests a strategic approach to asset recovery, potentially enhancing Exodus's chances of recouping its investment.
- Exodus plans to actively participate in the sale process of the subsidiaries, indicating confidence in their value and the potential for financial recovery.
- The press release reassures Monavate and Baanx customers and team members that their operations will continue smoothly during the receiver process, promoting stability and trust in the brand.
Potential Negatives
- Exodus is dealing with a financial default on a $70 million loan to W3C Corp, raising concerns about the company's financial stability and risk management.
- The appointment of Receivers to control subsidiaries indicates a potentially deteriorating relationship with W3C and could suggest broader operational issues within Exodus’s involvement in the cryptocurrency sector.
- Exodus's decision to demand immediate repayment of the loan may indicate liquidity problems or pressure on the company to stabilize its financial position, which could alarm investors.
FAQ
What recent action did Exodus take regarding W3C Corp?
Exodus appointed Receivers in the UK for W3C Corp's subsidiaries due to a loan default.
How much did Exodus loan to W3C Corp?
Exodus loaned $70 million to W3C Corp under a term facility governed by English law.
What will happen to Monavate customers during the receiver process?
There will be no changes for Monavate and Baanx customers or team members during the receiver process.
Who is involved in the Receiver team appointed by Exodus?
The Receiver team includes Partners and Managing Directors from AlixPartners with over 55 years of experience.
What is Exodus's goal with the sale of the subsidiaries' shares?
Exodus intends to participate as a bidder in the sale process of the subsidiaries' shares.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EXOD Insider Trading Activity
$EXOD insiders have traded $EXOD stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $EXOD stock by insiders over the last 6 months:
- MARGARET KNIGHT sold 135 shares for an estimated $882
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.
$EXOD Revenue
$EXOD had revenues of $29.4M in Q4 2025. This is a decrease of -34.39% from the same period in the prior year.
You can track EXOD financials on Quiver Quantitative's EXOD stock page.
$EXOD Hedge Fund Activity
We have seen 16 institutional investors add shares of $EXOD stock to their portfolio, and 26 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- G2 INVESTMENT PARTNERS MANAGEMENT LLC removed 37,508 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $554,743
- FLOYD FINANCIAL GROUP LLC removed 34,659 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $512,606
- MARSHALL WACE, LLP removed 31,946 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $472,481
- MIRAE ASSET GLOBAL ETFS HOLDINGS LTD. removed 30,846 shares (-28.5%) from their portfolio in Q4 2025, for an estimated $456,212
- UBS GROUP AG added 28,449 shares (+167.8%) to their portfolio in Q4 2025, for an estimated $420,760
- VANGUARD GROUP INC removed 27,834 shares (-7.2%) from their portfolio in Q4 2025, for an estimated $411,664
- BANK OF NEW YORK MELLON CORP added 20,402 shares (+inf%) to their portfolio in Q4 2025, for an estimated $301,745
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.
$EXOD Analyst Ratings
Wall Street analysts have issued reports on $EXOD in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- BTIG issued a "Buy" rating on 11/25/2025
- HC Wainwright & Co. issued a "Buy" rating on 11/25/2025
To track analyst ratings and price targets for $EXOD, check out Quiver Quantitative's $EXOD forecast page.
$EXOD Price Targets
Multiple analysts have issued price targets for $EXOD recently. We have seen 3 analysts offer price targets for $EXOD in the last 6 months, with a median target of $21.0.
Here are some recent targets:
- Andrew Harte from BTIG set a target price of $20.0 on 03/12/2026
- Mark Palmer from Benchmark set a target price of $21.0 on 03/12/2026
- Kevin Dede from HC Wainwright & Co. set a target price of $25.0 on 12/18/2025
Full Release
OMAHA, Neb., April 28, 2026 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus"), a leading self-custodial cryptocurrency platform, today announced that it has exercised its contractual right to appoint Receivers in the United Kingdom to take control of Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd — three subsidiaries of W3C Corp (“W3C”), whose shares were pledged as security for a secured loan on which W3C has defaulted.
Exodus is a secured lender to W3C, having loaned $70 million to W3C under a term facility governed by English law. As previously disclosed, on April 13, 2026, Exodus declared these loans to be payable on demand. On April 27, 2026, Exodus demanded immediate repayment of its on-demand loan by 5:00 p.m. BST. When W3C failed to repay the loan, Exodus exercised its contractual right to appoint Receivers in the United Kingdom to take control over the shares in Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd.
The Receiver team includes two Partners and Managing Directors of the financial advisory and global consulting firm AlixPartners, who together have more than 55 years’ experience in the area of restructuring and interim management in the United Kingdom. The Receivers intend to conduct a sale of the shares of Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd., and Exodus intends to participate as a bidder in this sale process.
JP Richardson, CEO and Co-Founder of Exodus, commented, “Exodus acted decisively to protect our shareholders. Nothing will change for Monavate and Baanx customers or team members during the receiver process, and we look forward to a successful resolution.”
About Exodus
Founded in 2015, Exodus Movement, Inc. (NYSE American: EXOD) is pioneering self-custodial finance by giving people the tools to earn rewards, spend, manage, and swap digital assets across borders, all without giving up control. Exodus serves millions of users through its products built on a simple principle: your money should be yours.
Exodus also powers crypto infrastructure for enterprise platforms serving millions of users through its enterprise product suite. Headquartered in Omaha, Nebraska, Exodus is financial software where ownership is the default. For more information, visit exodus.com.
Investor Contact
[email protected]
Media Contact
Aubrey Strobel/Elena Nisonoff, Halcyon Communications
[email protected]
Disclosure Information
Exodus may use its website and the following social media outlets as distribution channels of material nonpublic information about the Company. Financial and other important information regarding the Company is routinely accessible through and posted on the following: websites exodus.com/investors and exodus.com, and social media: X (@exodus and JP Richardson’s feed @jprichardson), Facebook, LinkedIn, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: "will," "expect," "would," "should," "intend."
Forward-looking statements in this document include, but are not limited to, the Receivers' plan to sell the shares of Monavate Holdings Limited, Monavate Ltd and Baanx.com Ltd., and Exodus’s intent to participate in this sale process. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026, as well as in our other reports filed with the SEC from time to time.
All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
