Exodus dumped 1,076 BTC to fund its payments empire — and the cost is brutal!

Exodus Movement sold 1,076 bitcoin in Q1 2026 — cutting its BTC holdings by 63% — to stockpile over $70 million in US dollar reserves ahead of closing its W3C payments acquisition. The company held just 628 BTC at the end of March, down from 1,704 BTC at year-end, with the value of those holdings collapsing from $149.2 million to $42.8 million as bitcoin shed roughly 23% over the quarter.

The financial toll was severe. Revenue fell 36.8% to $22.7 million from $36 million a year earlier, and the net loss widened to $32.1 million from $12.9 million — driven largely by a $36.4 million loss on crypto holdings. In total, Exodus sold $73.2 million in crypto and bought just $962,000, pushing cash, equivalents, and stablecoins from $5.2 million to $74.4 million by quarter-end.

The strategic rationale is clear: Exodus closed its acquisition of Monavate and Baanx on May 1, adding card issuing…