•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Exodus Movement, Inc. (NYSE American: EXOD) reshaped its balance sheet strategy in the first quarter of 2026 by selling most of its bitcoin holdings to fund a pivot toward the global payments sector, according to its unaudited Q1 2026 results and 10-Q filing.
During January through March, the self-custodial platform sold 1,076 bitcoin. The transactions reduced Exodus’ bitcoin treasury by approximately 63%, leaving it with 628 BTC at March 31, 2026, compared with 1,704 BTC held on Dec. 31, 2025.
The company characterized the liquidation as a planned move rather than a response to market distress. Proceeds from digital asset disposals totaled $73.2 million during the quarter. Exodus said it used the funds to strengthen cash reserves for the acquisition of W3C Corp. and its subsidiaries, Monavate and Baanx.
Exodus completed the acquisition of the card and payments infrastructure providers on May 1, 2026. The deal is intended to help the Omaha-based company diversify revenue beyond exchange aggregation.
While the bitcoin treasury shrank, Exodus’ cash and stablecoin position increased. Cash and cash equivalents rose from $4.9 million at the end of 2025 to $72.9 million by March 31, 2026, providing liquidity for integration of its new fintech assets.
Despite the stronger cash balance, Exodus reported challenges tied to a softer retail crypto market. Total revenue for the quarter was $22.7 million, down 36.8% from $36.0 million in the same period of the prior year.
The company’s net loss widened to $32.1 million, compared with a $12.9 million loss in Q1 2025. The report attributed much of the increase to a $36.4 million net loss on digital assets, including realized losses from sales and unrealized impairments related to market volatility.
Exchange provider processed volume totaled $1.18 billion, down roughly 26% from the fourth quarter of 2025.
User engagement was mixed. Monthly active users remained steady at 1.5 million, while quarterly funded users declined 18% to 1.4 million.
Exodus did not exit the digital asset market entirely. The company increased its Solana holdings by adding 5,068 SOL to its treasury, bringing the total to 17,541 units, valued at approximately $1.5 million.
The payments push is supported by products including Exodus Pay and the XO Cash stablecoin. By acquiring Monavate and Baanx, Exodus said it aims to reduce reliance on transaction fees generated by its wallet’s swap features.
Executive leadership framed the bitcoin sales as a necessary step in building a broader payments-focused business, moving the company away from a primarily HODL-oriented model toward a more traditional fintech growth approach.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
