Crypto Firm Exodus Drains 63% Of Its Bitcoin Reserves As Q1 Loss Doubled Year Over Year
Exodus Movement offered greater than 1,000 Bitcoin within the first three months of 2026 to fund a push into monetary know-how, elevating $73 million within the course of.
The crypto pockets firm cut its Bitcoin holdings from 1,704 to 628 cash by March 31 — a discount of roughly 63% — with practically all of the proceeds directed towards buying W3C Corp., the father or mother firm of fintech corporations Monavate and Baanx.
Revenue Takes A Sharp Hit
The Bitcoin gross sales got here as Exodus reported a steep drop in earnings. Total income for the quarter ended March 31 fell to $22.7 million, down from $36 million throughout the identical interval a yr in the past — a decline of practically 37%.
Exchange aggregation, which accounts for the majority of firm earnings, took the toughest hit, falling virtually $14 million as consumer buying and selling exercise slowed considerably.
Monthly energetic customers slipped from 1.6 million to 1.5 million yr over yr. Quarterly funded customers dropped much more sharply, falling 22% to 1.4 million from 1.8 million.
Exodus pointed to macroeconomic pressures — together with revised Federal Reserve development projections and uncertainty round tariff coverage — as contributing components. The firm additionally warned that worth swings in digital property might proceed to have an effect on its ends in coming quarters.
Net Loss More Than Doubled
The monetary results mirrored greater than only a drop in buying and selling. Exodus posted a web lack of $32 million for the quarter, in comparison with a virtually $13 million loss in Q1 2025.
The firm’s broader digital asset portfolio recorded a web lack of $36.4 million, pushed by $76.8 million in unrealized losses, although partially offset by $40.4 million in realized positive factors on asset exchanges.
On the stability sheet, money and money equivalents rose sharply. The firm ended the quarter with practically $73 million in money, up from simply $4.9 million on the shut of 2025.
New Products In The Pipeline
Even because the core enterprise contracted, Exodus rolled out a brand new product. XO Cash, a stablecoin toolkit constructed on Solana with funds firm MoonPay, permits AI brokers to make purchases via Visa’s cost community with out exposing consumer non-public keys.
Featured picture from Getty Images/GeorgeManga, chart from TradingView
