Written by Turner Wrightstaff writerReviewed by Sam Bourgistaff writer

Written by Turner Wrightstaff writer

Reviewed by Sam Bourgistaff writer

Exodus to cut 25% of staff in company reorganization

Latest NewsPublishedJul 20, 2026

The wallet company stated it expected the layoffs to generate between $10 million and $13 million in savings as part of its strategy to build a full-stack card issuance and payments platform.

Cryptocurrency wallet company Exodus will cut a quarter of its workforce in a restructuring move toward stablecoin payments infrastructure.

In a Friday notice, Exodus stated it 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.” The announcement followed the wallet company’s acquisition of Monavate and Baanx, which it stated at the time would lessen its dependence on third-party providers for services including stablecoin payments.

“Exodus anticipates to recognize approximately $2.5 million to $3.5 million of pre-tax charges in connection with the action, consisting primarily of severance and related personnel costs,” stated the notice. “The Company anticipates 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.”

The company reported having 215 full-time employees as of Dec. 31, meaning about 54 workers may have been affected by the cuts. Exodus Movement stock on the NYSE under the ticker EXOD dropped by more than 8% to $4.62 since markets opened on Monday.

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