Exodus sold $73.2M in crypto to boost cash reserves ahead of its W3C payments acquisition, widening its Q1 net loss to $32.1M.
Exodus Movement reduced its bitcoin holdings by 1,076 BTC in Q1 2026, selling $73.2 million in crypto to increase cash reserves from $5.2 million to $74.4 million. The move supports its planned acquisition of W3C payments, shifting $70 million into US dollar reserves.
Revenue dropped 36.8% year-over-year to $22.7 million, while net loss widened to $32.1 million from $12.9 million. The loss included a $36.4 million hit from crypto holdings. Bitcoin holdings fell to 628 BTC, valued at $42.8 million, down from $149.2 million at year-end.
Solana holdings rose to 17,541 SOL, though their fair value declined to $1.5 million from $1.6 million.