Crypto Wallet Firm Exodus Sues W3C and CEO to Enforce $175 Million Acquisition

Exodus is a crypto wallet company whose core business enables users to retain custody of their own digital assets. Its founder recently said the industry’s continued reliance on inconvenient backup methods such as seed phrases shows that wallet services still have room to improve. Against that backdrop, the acquisition of W3C is seen as an important transaction in Exodus’s business expansion.

Exodus has sued W3C and its CEO, Garth Howat, in the Delaware Court of Chancery, seeking to compel performance of a $175 million acquisition agreement the parties signed in November 2025. The complaint also alleges that the defendants tried to evade their contractual obligation to complete the transaction after receiving an $80 million loan from Exodus.