Full story
Exodus pivots to stablecoin
Crypto wallet firm Exodus Movement said it will cut about 25% of its global workforce as it reshapes its business around stablecoin payments and card infrastructure.
The Omaha, Nebraska-based company said the restructuring is part of a broader effort to lower costs while supporting its strategy of building a full-stack payments platform.
Exodus said it expects to record pre-tax restructuring charges of between $2.5 million and $3.5 million, mostly tied to severance and employee-related costs, and it expects annual cash operating expense savings of $10 million to $13 million with the full benefit expected in 2027.
The company said the restructuring comes as it continues to integrate Monavate and Baanx, acquisitions it said have expanded its payments capabilities and international footprint.
In early trading Monday, Exodus shares (EXOD) were higher by 2.2% but still down nearly 85% year-over-year.
How many jobs, and why
A July 17 company notice filed with the U.S. Securities and Exchange Commission said the reduction would align Exodus’s costs and staffing priorities with its card issuance and payments strategy.
Crypto News said Exodus reported 215 full-time employees as of Dec. 31, 2025, suggesting that approximately 54 positions could be affected, while also noting the company did not provide an exact number or identify the departments included in the layoffs.
In the same coverage, Exodus said affected workers will receive severance, continued benefits and other support during the transition, and the company projected annual savings of $10 million to $13 million by 2027.
Cointelegraph quoted the company’s rationale in a Friday notice, saying Exodus would cut 25% of its staff to "better align its cost structure and organizational priorities with its strategy to build a full-stack card issuance and payments platform."
Cointelegraph also reported that Exodus expected to recognize approximately $2.5 million to $3.5 million of pre-tax charges, consisting primarily of severance and related personnel costs.
Stock reaction and next steps
CoinDesk said CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
“Exodus to Cut 25% of Workforce as It Pivots to Stablecoin Payments, Card Infrastructure Summary - Exodus Movement said it will cut 25% of its workforce and restructure its business around stablecoin payments and card infrastructure”
Separately, Crypto News said Exodus shares fell more than 8% to about $4.62 after the market opened Monday, extending pressure on a stock that closed at $5.06 on Friday.
TradingView reported that Exodus Movement stock on the NYSE under the ticker EXOD dropped by more than 8% to $4.62 since markets opened on Monday.
The company also said it expects the action to generate approximately $10 million to $13 million of annualized cash operating expense savings and to see the full benefit of these savings in 2027.
CoinDesk framed the restructuring as tied to Exodus’s integration of Monavate and Baanx, while Bloomingbit reported that Exodus said it will cut 25% of its workforce and restructure around stablecoin payments and card infrastructure.
