Exodus is seeking to force completion of a $175 million acquisition, alleging W3C took on new debt after signing the deal, including an $80 million loan and a $10 million payment to Garth Howat.
Exodus Movement sued W3C Corp and CEO Garth Howat to enforce completion of a $175 million acquisition. According to the complaint, W3C accepted an $80 million loan after signing a stock purchase agreement on Nov. 24, 2025, and that financing included $10 million paid personally to Howat. The case centers on Exodus’ effort to compel the transaction under the signed agreement. W3C’s businesses include Baanx and Monovate, which work with Mastercard and MetaMask on Crypto Life cards.