Exodus sold 63% of its Bitcoin reserve to acquire a fintech company

Techub News, according to NewsBTC, cryptocurrency wallet company Exodus Movement sold over 1,000 Bitcoin in the first quarter of 2026, reducing its holdings from 1,704 to 628 BTC (a decrease of approximately 63%), raising $73 million to acquire fintech company W3C Corp. The company's first-quarter revenue was $22.7 million, down nearly 37% year-over-year, with a net loss of $32 million, a significant increase from the $13 million loss in the same period of 2025. The company used the proceeds primarily to acquire W3C Corp. (which owns Monavate and Baanx). Despite the contraction in its core business, Exodus launched a new Solana-based product, XO Cash, and partnered with MoonPay to develop a stablecoin toolkit, allowing AI agents to make payments via the Visa network. The company noted that macroeconomic pressures and tariff policy uncertainties led to a slowdown in user trading activity, with monthly active users declining from 1.6 million to 1.5 million.