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Exodus appoints UK receivers to control Monavate and Baanx after W3C defaults on $70M loan

Company Fundamentals
28 Apr 2026
GlobeNewsWire
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Neutral
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Exodus Movement has appointed receivers in the UK to take control of Monavate Holdings Limited, Monavate Ltd, and Baanx.com Ltd, subsidiaries of W3C Corp, after W3C defaulted on a $70 million secured loan. Exodus, a secured lender, declared the loan payable on demand and, following non-repayment, exercised its contractual right to appoint receivers. The appointed receivers from AlixPartners will manage the sale of these shares, with Exodus intending to participate as a bidder. Exodus assures no immediate changes for Monavate and Baanx customers or employees during this process.

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