Exodus Wallet Dumped Over 1k Bitcoin to Fund $175M Payments Takeover-See the Crazy Play!

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Exodus wallet dumps <a href="https://jpyeur.com/btc-usd/">bitcoin</a> for payments push

As an analyst, I’ve been tracking Exodus Wallet’s recent activity, and it appears they sold 1,076 Bitcoin in the first quarter of 2026. This sale was strategically used to finance their $175 million purchase of W3C’s payments division.

Summary

  • Exodus Movement cut its BTC treasury from 1,704 to 628 coins during Q1 2026, raising $73.2 million in total crypto sales to fund W3C closing payments.
  • The company closed its acquisition of Monavate and Baanx on May 1, adding card-issuing and payments infrastructure to its self-custody wallet business.
  • Q1 revenue fell 36.8% to $22.7 million as exchange aggregation volume dried up, widening the net loss to $32.1 million from $12.9 million a year earlier.

Exodus Movement, the company behind the Exodus self-custody wallet, sold 1,076 Bitcoin in the first quarter of 2026. This reduced their Bitcoin holdings from 1,704 to 628, decreasing the value of their Bitcoin treasury from $149.2 million to $42.8 million. During the same period, the company increased its holdings of Solana tokens, adding 5,068.

Exodus sold $73.2 million worth of cryptocurrency and purchased only $962,000 during the quarter. According to a recent report, this selling activity is intended to prepare for upcoming payments related to the completion of the W3C project, and the company has saved over $70 million in US dollars to cover these costs. The company’s cash, cash equivalents, and stablecoins increased significantly, rising from $5.2 million at the end of the previous year to $74.4 million.

What the W3C deal delivers for Exodus

On May 1st, Exodus completed its purchase of Monavate and Baanx – both payments companies owned by W3C Corp – for $175 million. This acquisition integrates card issuing and payment processing capabilities directly into Exodus’s secure wallet platform. Baanx specializes in providing the technology for crypto debit cards, while Monavate manages card programs.

I’m really excited about Exodus’s new stablecoin! They’ve been working on a dollar-backed coin, fully backed by reserves and built with MoonPay and M0. This is going to power a new payment feature right within the Exodus app, which should make crypto transactions a lot easier.

XO Cash is a new system built on Solana that allows AI programs to make purchases using Visa, all while keeping user’s private keys secure. It’s powered by MoonPay and functions as a toolkit for stablecoins.

First quarter revenue decreased by 36.8% to $22.7 million, down from $36 million the previous year. This decline was primarily due to a $13.8 million drop in exchange aggregation revenue, caused by lower trading activity from users.

The company’s losses increased to $32.1 million, up from $12.9 million, largely due to a $36.4 million loss on its cryptocurrency investments. This was caused by a significant drop in the value of Bitcoin (down 23%) and Solana (down over 34%) during the last three months.

What the pivot means for Exodus’s positioning

Exodus stands out as the only publicly traded company offering self-custody wallets that’s also developing a complete system for handling payments. However, the number of people using the wallet each month decreased slightly to 1.5 million, down from 1.6 million a year ago. The number of users who funded their accounts each quarter also dropped, falling 22.2% to 1.4 million. As a result, the company’s stock price has significantly decreased, falling 86% over the last year and trading around $7.71 when the first quarter results were reported.

Exodus is shifting its focus to become a payments platform built specifically for cryptocurrency, moving beyond just a digital wallet. By combining its XO Cash and Exodus Pay services with the infrastructure provided by Monavate and Baanx, Exodus aims to directly compete with established fintech companies like MoonPay and PayPal (with its PYUSD) in the area of everyday consumer payments.

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2026-05-13 00:16