Exodus Motion (EXOD) reduce its bitcoin holdings by 1,076 BTC within the first quarter, whereas including 5,068 SOL, because it moved extra of its steadiness sheet into money because the crypto pockets supplier ready to shut its W3C funds deal.
The corporate held 628 BTC on the finish of March, down from 1,704 BTC on Dec. 31, in accordance with its newest quarterly submitting. The worth of these holdings fell to $42.8 million from $149.2 million.
Income fell 36.8% to $22.7 million in Q1 from $36 million a yr earlier, in accordance with Exodus’ earnings launch. Web loss widened to $32.1 million from $12.9 million, pushed partially by a $36.4 million loss on crypto.
Exodus’ solana holdings rose to 17,541 SOL from 12,473 SOL over the identical interval. Their truthful worth nonetheless fell to $1.5 million from $1.6 million over the crypto sell-off seen over the interval.
In complete, Exodus stated it offered $73.2 million of cryptocurrency held in the course of the quarter, and purchased $962,000. The corporate stated the rise in internet gross sales for money was tied to proceeds that can be used to fund the W3C acquisition.
“Throughout Q1 2026, the Firm has continued to promote digital belongings to arrange for the following disbursement associated to the W3C closing, and has put aside over $70 million in US greenback reserves for these obligations,” the submitting reads.
Money, money equivalents and stablecoins rose to $74.4 million from $5.2 million at year-end. Whole crypto and liquid belongings held fell to $122.6 million from $161.6 million.
The submitting doesn’t get away gross sales by token. The steadiness sheet transfer was concentrated in bitcoin, with BTC down 63% and SOL up 41%. Bitcoin misplaced round 23% of its worth in Q1, whereas SOL dropped greater than 34% over the interval.
Exodus closed its acquisition of Monavate and Baanx on Could 1, including card issuing and funds infrastructure to its self-custody enterprise. The deal adopted its $175 million settlement to purchase W3C’s funds items and its push into stablecoin funds.
EXOD is down 3.1% in pre-market buying and selling at $7.47.