Cryptocurrency company Exodus Movement is taking legal action against W3C and its CEO Garth Howat to finalize a $175 million acquisition agreed upon last November. The lawsuit, filed in the Delaware Court of Chancery, seeks to compel Howat to adhere to the terms of the November 24, 2025 Stock Purchase Agreement.
Upon signing the deal, Howat and W3C received $80 million in loans from Exodus, with Howat personally receiving $10 million, which he claims does not need to be repaid. The lawsuit alleges that Howat and W3C are attempting to evade their obligations, engaging in practices such as falsifying documents and dismissing key personnel in defiance of the agreement. Exodus CEO JP Richardson stated that the company expects the agreement to be honored and anticipates a swift resolution.