Exodus Sells $73.2M in Crypto, Boosts Cash Reserves for W3C Deal
Exodus sold $73.2 million in cryptocurrency in Q1 2026, reducing its bitcoin holdings by 1,076 BTC to 628 BTC, while increasing SOL holdings by 5,068 to 17,541 SOL. The sales boosted cash, cash equivalents, and stablecoins from $5.2 million to $74.4 million, primarily to fund its pending acquisition of W3C's payments units. Revenue fell 36.8% to $22.7 million year-over-year, and net loss widened to $32.1 million, partly due to a $36.4 million loss on crypto. The company also closed its acquisition of Monavate and Baanx on May 1, adding card issuing and payments infrastructure. Total crypto and liquid assets fell to $122.6 million from $161.6 million. The filing did not break out sales by token, but the balance sheet shift was most pronounced in bitcoin, which dropped 63% of holdings, while SOL increased 41%. Bitcoin lost around 23% of its value in Q1, and SOL dropped over 34%. Exodus shares are down 3.1% in pre-market trading.
Key facts
- Exodus sold $73.2M in crypto, reduced BTC by 1,076 BTC to 628 BTC.
- Cash and stablecoins rose from $5.2M to $74.4M for W3C acquisition funding.
- Revenue fell 36.8% to $22.7M, net loss widened to $32.1M in Q1 2026.
- SOL holdings increased 41% to 17,541 SOL despite market downturns.
- Exodus closed Monavate and Baanx deal, pre-market shares down 3.1%.