Crypto wallet firm Exodus reduces Bitcoin holdings to fund acquisitions and expand into payments, including a new dollar-backed stablecoin.
Exodus sold $87 million worth of Bitcoin in Q1 to eliminate debt and fund its expansion into payments. The firm now holds $48 million in digital assets, down from $156 million at year-end, while cash equivalents rose to $73 million.
The company launched Exodus Pay, enabling crypto spending directly from wallets, and introduced XO Cash, a stablecoin marketed for AI agents. Two acquisitions, Monavate and Baanx, support its transition into financial services.
Shares of Exodus (EXOD) fell 9.6% Tuesday, closing at $6.97.