This restructuring is part of a strategy to develop a comprehensive payments platform following the company's acquisitions of Monavate and Baanx.
By Francisco Rodrigues|Edited by Stephen Alpher Jul 20, 2026, 1:53 p.m. 1 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Two individuals leaving an office (The Jopwell Collection/Unsplash)SummaryShow- Exodus is laying off 25% of its global workforce to reduce costs while pivoting its business focus toward stablecoin payments and card infrastructure.
- This restructuring is part of a strategy to build a full-stack payments platform following the company’s acquisitions of Monavate and Baanx.
- The company anticipates $10 million to $13 million in annual cash operating expense savings by 2027, with restructuring charges of $3.5 million.
The crypto wallet provider Exodus Movement (EXOD) will implement a workforce reduction of approximately 25% as it shifts its business model to emphasize stablecoin payments and card infrastructure.
Based in Omaha, Nebraska, the firm announced in a filing that these layoffs are part of a larger initiative aimed at cutting costs while advancing its goal of creating a full-stack payments platform.
This restructuring follows Exodus's recent integration of Monavate, an electronic money institution, and Baanx, a crypto payment provider, both of which have enhanced its payment capabilities and global reach.
Exodus projects that it will incur pre-tax restructuring expenses of between $2.5 million and $3.5 million, primarily linked to severance and employee-related costs. Employees impacted by the layoffs will receive severance packages, ongoing benefits, and transition assistance.
The firm expects this restructuring to yield annual cash operating expense savings ranging from $10 million to $13 million, with the full effect anticipated by 2027.
In early trading on Monday, EXOD saw an increase of 2.2%, although it has experienced a nearly 85% decline year-over-year.
Crypto NewsLatest Crypto News- 1Hut 8 surges on $9.8 billion AI data-center lease, lifting compute sector25 minutes ago
- 2Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock1 hour ago
- 3Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged1 hour ago
- 4Brazil’s securities regulator sets up task force with 60-day deadline for tokenization proposal2 hours ago
- 5A bitcoin 'volmageddon' may be brewing, key indicator suggests2 hours ago
- 6Bank of Korea prepares for live CBDC transactions with 9 banks in September3 hours ago
- 7Crypto market slips even as equities advance. Pump surges on social-media chatter3 hours ago
- 8Hyperliquid plans to add decentralized prediction markets in upgrade to HIP-44 hours ago
- 9Cross-chain protocol Allbridge halts after $1.65 million flash loan exploit4 hours ago
- 10U.S. regulatory developments and earnings, ECB rate decision: Crypto Week Ahead5 hours ago
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
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.
By CoinDesk ResearchJul 13, 2026CEX 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.
Why it matters:
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.
View Full ReportMore From Finance