SCHEDULE: FTX Recovery Trust Amends Exodus Stake Disclosure

FTX Recovery Trust filed an amended Schedule 13G for its 18.4% stake in Exodus Movement, Inc., correcting a previous overstatement of its beneficial ownership percentage.

Summary

• FTX Recovery Trust beneficially owns 1,823,486 shares of Exodus Movement, Inc. Class A Common Stock.
• This represents 18.4% of the Class A Common Stock outstanding.
• The filing is an amendment to a previously filed Schedule 13D from August 8, 2025.
• The amendment corrects an administrative error in the original filing, which overstated the percentage of Class A Common Stock beneficially owned by approximately 2.23%.
• The percentage is calculated based on 9,934,432 shares of Class A Common Stock outstanding as of November 7, 2025.
• FTX Recovery Trust maintains sole voting and dispositive power over these shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a neutral filing. The correction of a previous error enhances data accuracy, and the maintenance of a significant, albeit slightly lower, ownership stake by the FTX Recovery Trust provides clarity without indicating any immediate operational impact on Exodus Movement, Inc.

Positives

• Correction of a previous administrative error enhances transparency regarding the actual beneficial ownership percentage.
• FTX Recovery Trust maintains a significant 18.4% stake in Exodus Movement, Inc., indicating continued investment.

Negatives

• An administrative error in the prior Schedule 13D led to an overstatement of beneficial ownership by approximately 2.23%.

Risks

• NA

Future Outlook

The filing does not contain forward-looking statements or guidance regarding Exodus Movement, Inc.'s future operations or financial performance. It primarily reports a current ownership stake and a correction.

Management Comments

• "To the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11." (Signed by Mary H. Cilia, Chief Financial Officer of FTX Recovery Trust).

Industry Context

StockSavvy.ai notes that Schedule 13G filings are standard disclosures for passive investors holding more than 5% of a company's stock. The FTX Recovery Trust's ownership is a consequence of the FTX bankruptcy proceedings, where assets are being managed for creditor recovery. This filing clarifies the exact stake, which is crucial for market transparency, especially given the trust's mandate to recover assets.

Comparison to Industry Standards

• NA

Management Changes

Corporate Governance

Legal Proceedings

• NA

Related Party Transactions

• NA

Stakeholder Impact

• Shareholders: Provides accurate information regarding a significant institutional shareholder's stake, improving transparency.

Next Steps

• NA

Key Dates

Recommendation

This filing is primarily an administrative correction of a previously reported beneficial ownership percentage. It does not introduce new information about Exodus Movement, Inc.'s operational performance, strategic direction, or financial health that would warrant a change in investment thesis. The FTX Recovery Trust's continued significant stake, while clarified, does not inherently signal a strong buy or sell opportunity for a seasoned investor; rather, it reinforces a "hold" position pending further operational updates from Exodus or any indication of the Trust's future disposition plans.

Keywords

Exodus Movement, FTX Recovery Trust, Schedule 13G, beneficial ownership, Class A Common Stock, SEC filing, equity stake