Exodus dumps 1,000 bitcoin: Why the crypto wallet is cashing out to fund a payments empire

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Exodus dumps 1,000 bitcoin: Why the crypto wallet is cashing out to fund a payments empire Exodus sold $73.2M in crypto, causing cash, cash equivalents, and stablecoins to jump from $5.2M to $74.4M by the end of Q1 2026. What to know: - Exodus cut its bitcoin holdings by 63% (1,076 BTC) in Q1 to raise cash for the W3C payments acquisition, moving $70 million into US dollar reserves. - Exodus sold $73.2 million in crypto, causing cash, cash equivalents, and stablecoins to jump from $5.2 million to $74.4 million by the end of Q1 2026. - Q1 2026 revenue fell 36.8% to $22.7 million, and net loss widened to $32.1 million (from $12.9 million), largely due to a $36.4 million loss on crypto holdings. Exodus Movement (EXOD) cut its bitcoin holdings by 1,076 BTC in the first quarter, while adding 5,068 SOL, as it moved more of its balance sheet into cash as the crypto wallet provider prepared to close its W3C payments deal. The company held 628 BTC at the end of March, down from 1,704 BTC on Dec. 31, according to its latest quarterly filing. The value of those holdings fell to $42.8 million from $149.2 million. Revenue fell 36.8% to $22.7 million in Q1 from $36 million a year earlier, according to Exodus’ earnings release. Net loss widened to $32.1 million from $12.9 million, driven in part by a $36.4 million loss on crypto. Exodus' solana holdings rose to 17,541 SOL from 12,473 SOL over the same period. Their fair value still fell to $1.5 million from $1.6 million over the crypto sell-off seen over the period. In total, Exodus said it sold $73.2 million of cryptocurrency held during the quarter, and bought $962,000. The company said the increase in net sales for cash was tied to proceeds that will be used to fund the W3C acquisition. “During Q1 2026, the Company has continued to sell digital assets to prepare for the next disbursement related to the W3C closing, and has set aside over $70 million in US dollar reserves for these obligations,” the filing reads. Cash, cash equivalents and stablecoins rose to $74.4 million from $5.2 million at year-end. Total crypto and liquid assets held fell to $122.6 million from $161.6 million. The filing does not break out sales by token. The balance sheet move was concentrated in bitcoin, with BTC down 63% and SOL up 41%. Bitcoin lost around 23% of its value in Q1, while SOL dropped more than 34% over the period. Exodus closed its acquisition of Monavate and Baanx on May 1, adding card issuing and payments infrastructure to its self-custody business. The deal followed its $175 million agreement to buy W3C’s payments units and its push into stablecoin payments. EXOD is down 3.1% in pre-market trading at $7.47. More For You Osero is coming with three products: Earn, App, and Foundry. What to know: - Stablewatch-incubated Osero raised $13.5M for stablecoin yield infrastructure, led by Sky Ecosystem and co-led by Plasma. - Osero addresses the issue that most of the $300B+ stablecoin yield goes to issuers, leaving holders and fintech firms with limited direct returns. - Osero is coming with three products: Earn (embeddable Sky Savings Rate),...

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