#513: JP Richardson on Exiting The Traditional Financial System
3/16/2021 · 38 min · transcript via mlx
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Key topics
— Exodus is a cryptocurrency wallet and portfolio management platform with 1 million customers and $100 million projected 2021 revenue, built on principles of decentralization and user control against centralized financial institutions.
— JP Richardson founded Exodus after witnessing Mt. Gox failures and the 2008 financial crisis, starting with Bitcoin/Litecoin/Dogecoin support and expanding to support 100+ cryptocurrencies with desktop, mobile, and hardware wallet integration.
— The company is conducting a Regulation A+ offering to raise up to $75 million by tokenizing equity on the blockchain, allowing both accredited and non-accredited investors to participate directly within the Exodus app using cryptocurrency.
— Exodus pays all employees 100% in Bitcoin with transparent salaries anchored to Denver market rates regardless of location, maintaining a fully remote 116-person team (growing to 250+ by year-end) across 40+ countries.
— Three core strategic pillars: continued institutional distrust will drive adoption; DeFi maturation and accessibility will become standard; and emotionally-driven design philosophy makes crypto products intuitive for mainstream users.
— Capital from the Regulation A+ offering will fund global accessibility improvements, DeFi integration, NFT simplification, strategic acquisitions, and marketing to enable cryptocurrency purchases worldwide regardless of banking infrastructure.
Market & price signals
— None discussed.
Actionable insights
— Consider downloading Exodus to access a user-friendly cryptocurrency wallet with transparent design philosophy; the Regulation A+ offering at [exodus.io/invest](https://exodus.io/invest) allows non-accredited investors to own equity using Bitcoin, Ethereum, or USDC without traditional venture capital gatekeeping.
— Monitor DeFi protocol revenues as potential indicators of shifting market structure: Uniswap's $800 million–$1 billion annual revenue (approaching Coinbase's $1.3 billion) suggests decentralized platforms may outpace centralized exchanges, validating the long-term thesis driving Exodus's product roadmap.
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