Blockchain
How crypto companies can go public in 2021, explained
There is huge demand for crypto companies to go public right now — but in this day and age, are initial public offerings their only option?
One company that has been in the process of completing a Reg A token sale is Exodus.
Exodus — which offers desktop, mobile and hardware crypto wallets — said that it wanted to pursue this approach to ensure that its users had equal access to equity as venture capital firms and crypto whales.
The company’s stock was listed at a price of $27.42 a share, and was available directly through the Exodus wallet in exchange for Bitcoin, Ether or the USDC stablecoin. It was also available exclusively in the U.S., barring three states.
In a recent ask-me-anything session on Cointelegraph’s YouTube page, Exodus CEO JP Richardson described the Reg A token sale as a “proof of concept to show the world that this is possible” — and suggested that other companies could be invited to perform their own token sales within its platform in the future.
“We see that as an inevitable future in that all traditional assets, whether it’s stocks, bonds, mortgages, currencies… now will make their way to the blockchain,” Richardson added.
Approved by the U.S. Securities and Exchange Commission, Exodus raised $59 million in just five days.
On May 5, it was confirmed that the token sale had sold out — with Exodus claiming it was the first company to have a public offering that was for crypto only, digitally represented on the blockchain, and 100% in a self-custodial platform.
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