Exodus Wallet earns almost $60 million in cryptocurrency in a controlled sale.

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Coinbase is poised to break Exodus’ claimed record share selling later today.

Exodus, a cryptocurrency wallet provider, raised more than $59 million in just five days as investors flocked to join in the initial public offering.

Exodus Movement, Inc., a Delaware-based company, started selling stock on April 8 in a deal authorised by the United States Securities and Exchange Commission (SEC). The securities were priced at $27.42 each, with a total investment limit of 2,733,229 shares.

According to an April 12 report, the offering will close once the maximum offering amount of $75 million has been reached. The crypto wallet company is already 80% towards reaching that target with participation from over 4,000 investors.

According to the company, the rest of the funding has come from retail traders or non-accredited buyers, with accredited investors accounting for just 8% of the number.

The Ordinance A selling allowed the company to expand outside wealthy investors and provide participation to others who are often excluded from securities transactions. However, the offering was only open to buyers residing in the United States, with the exception of Arizona, Texas, and Florida.

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Instead of approving fiat, Exodus only tolerated cryptocurrency payments in the form of Bitcoin, Ethereum, or USDC.

Exodus is also looking at collaborations with alternative trading systems (ATS) that could theoretically increase the availability of the securities. According to the paper, the company plans to make the Class A common stock available for trading on many exchanges, including tZERO, within nine months of this sale.

tZERO is a security token exchange site that is SEC-compliant and a subsidiary of Medici Ventures, which is a subsidiary of online retailer Overstock.

The multi-asset app wallet provider appears to have completed the largest managed crypto offering to date, but that distinction is unlikely to last.

Coinbase is set to list its shares on the Nasdaq stock exchange in just a few hours, in what will undoubtedly be the biggest crypto offering ever. Valuations for the firm after it goes public have ranged between $60 billion and $140 billion, and opinion in both the crypto and conventional stock markets has been largely favourable.

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