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Techub News reported, according to CoinDesk, that the custodial cryptocurrency wallet company Exodus has filed a lawsuit against W3C and its CEO Garth Howat, aiming to enforce the previously agreed $175 million acquisition agreement. Exodus alleges that W3C engaged in disputable conduct during the agreement's execution and has requested the court to rule that the other party complete the acquisition. Currently, neither side has issued further public comments regarding the details of the lawsuit.
Techub News: According to CoinDesk, U.S.-listed crypto wallet company Exodus Movement (NYSE American: EXOD) has reached an agreement to acquire W3C Corp, the parent company of crypto card and payment companies Baanx and Monavate, for $175 million. The acquisition is funded from Exodus' cash reserves and financing provided by Galaxy Digital, secured by Bitcoin held by Exodus; the company has provided approximately $58.8 million in bridge financing to W3C and may add up to $10 million for operational support.
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