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Exodus Cuts 25% of Staff to Focus on Stablecoin Payments, Plans $10M-$13M Annual Cost Savings

Project Progress

2026-07-20 13:59:54

According to CoinDesk, Exodus Movement (EXOD) announced today it will lay off approximately 25% of its global workforce to reduce costs and refocus on stablecoin payments and card infrastructure. The restructuring follows the company's acquisitions of electronic money institution Monavate and crypto payment firm Baanx as part of its strategy to build a complete payment stack platform. Exodus expects to record restructuring charges of $2.5 million to $3.5 million before taxes, primarily for severance and employee-related costs, and projects annual cash operating expense savings of $10 million to $13 million by 2027.

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