Exodus Posts $32M Loss as Wallet Revenue Craters 37%, Sells 1,076 BTC

Exodus Movement reported a net loss of $32.1 million for the first quarter of 2026, more than double the $12.9 million loss recorded in the same period last year, as the crypto wallet company liquidated the bulk of its Bitcoin treasury to fund acquisitions.

Total revenue came in at $22.7 million for the three months ended March 31, down 36.8% from $36 million a year earlier, the company announced Monday.  Exchange aggregation, the company’s main business line, drove most of the decline, sliding $13.8 million, or 40.8%, as user trading volumes dried up.

Monthly active users dipped to 1.5 million from 1.6 million a year ago, while quarterly funded users fell more sharply, dropping 22.2% to 1.4 million from 1.8 million.

The company cited macroeconomic pressures, including the Federal Reserve’s revised growth outlook and uncertainty around the administration’s tariff policy, as primary drivers of the market-side damage. “The Company expects that volatility in digital asset prices will continue and may result in significant fluctuations in the Company’s results of operations in future periods,” it added.

Related: How AI became crypto’s favorite reason to cut staff

Exodus sells 63% of its Bitcoin stash

Exodus held 1,704 BTC at the end of December 2025. By March 31, that position had been cut to 628 BTC, a reduction of roughly 63% in unit terms. The company raised $73.2 million through the sales during the quarter, nearly all of which was earmarked to fund its push to acquire W3C Corp., the holding company behind fintech firms Monavate and Baanx.

The company’s broader digital asset portfolio swung to a net loss of $36.4 million, reflecting $76.8 million in unrealized losses partly offset by $40.4 million in realized gains on asset exchanges.

At the end of the quarter, the company held $72.9 million in cash and cash equivalents, up from $4.9 million at year-end 2025.

Exodus shares drop. Source: Yahoo! Finance

Exodus shares fell 5.75% to $7.71 on May 12 and slipped a further 3.11% to $7.47 in pre-market trade.

Related: Bitcoin exchange reserves fall to two-year low after $8B exodus

Exodus launches XO Cash in push into AI agents

As Cointelegraph reported, Exodus has rolled out XO Cash, a Solana-based stablecoin toolkit built with MoonPay that lets AI agents spend money through Visa’s payment rails without exposing a user’s private keys.

Developers can spin up agent-linked wallets, cap daily spending, restrict merchants and issue virtual debit cards through Exodus Pay balances. Payments settle automatically in USDC (USDC) or USDt (USDT) via infrastructure from Monavate, and transactions carry no fees.

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