---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-291325"
form_type: "8-K"
ticker: "EXOD"
cik: "0001821534"
company_name: "Exodus Movement, Inc."
filed_at: "2025-11-21T23:59:59+00:00"
generated_at: "2026-05-16T17:41:24.629025+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Exodus borrows $60M from Galaxy Digital in Bitcoin-collateralized loan at 9% interest

## Summary
- Principal amount of $60 million under Master Digital Currency Loan Agreement with Galaxy Digital LLC.
- Loan secured by Bitcoin (BTC) collateral at 150% initial level; margin call thresholds at 140% and 135%.
- Interest rate of 9% per annum; evergreen facility with 30-day recall or redelivery option for either party.
- Proceeds to maintain capital readiness for potential future strategic transactions.
- Collateral custodied at Anchorage Digital Bank; loan not subject to rehypothecation by lender.

## SEC filing metadata
- accession: 0001193125-25-291325
- form_type: 8-K
- ticker: EXOD
- cik: 0001821534
- company_name: Exodus Movement, Inc.
- filed_at: 2025-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/0001193125-25-291325-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/exod-20251117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-291325
- JSON: https://secwatch.observer/filing/0001193125-25-291325.json
- Plain text: https://secwatch.observer/filing/0001193125-25-291325.txt

## Key facts
- Debt Financings
  Exodus Movement, Inc. incurred loan of $60 million with Galaxy Digital LLC at 9% per annum.
  - Instrument: loan
  - Principal: $60 million
  - Counterparty: Galaxy Digital LLC
  - Rate: 9% per annum
  - Event: incurrence
  source text: On November 17, 2025, the Company incurred indebtedness in the principal amount of $60 million (the “ November 2025 Loan ”) pursuant to a loan term sheet executed under its Master Digital Currency Loan Agreement (the “ Digital Currency Loan Agreement ”) with Galaxy Digital LLC (the “ Lender ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1821534/000119312525291325/0001193125-25-291325-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.