Exodus Movement, a publicly traded cryptocurrency company, has initiated a lawsuit against W3C and its CEO, Garth Howat, in an effort to finalize the $175 million acquisition agreed upon in November of the previous year. The lawsuit, filed in the Delaware Court of Chancery, seeks to compel Howat to adhere to the terms outlined in 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 later claimed did not need to be repaid, according to the lawsuit. The lawsuit alleges that Howat and W3C are attempting to renege on their commitment to sell W3C to Exodus, despite having a binding agreement in place.
Exodus's CEO, JP Richardson, stated that the company expects the agreement to be fully honored and anticipates a swift resolution.