Cryptocurrency firm Exodus Movement is taking legal action against W3C and its CEO, Garth Howat, in an effort to finalize the $175 million acquisition agreed upon in November last year. The lawsuit, filed in the Delaware Court of Chancery, aims to enforce compliance with the terms of the November 24, 2025 Stock Purchase Agreement.
Upon signing the deal, W3C and Howat received $80 million in loans from Exodus, with Howat personally receiving $10 million, which he later claimed did not need to be repaid. The lawsuit alleges that Howat and W3C are attempting to evade their obligations, engaging in improper conduct such as falsifying documents and dismissing key personnel. Exodus CEO JP Richardson stated that the company expects the binding agreement to be honored and is confident in a swift resolution.