Exodus Announces Workforce Reduction and Restructuring Plan

Exodus Movement, Inc. has announced a restructuring plan, approved by its board of directors on July 16, 2026, to better align its cost structure and organizational priorities with its strategic transition toward payments. This plan involves a reduction in force affecting approximately 77 employees and service providers, representing about 25% of the Company's global workforce. The Company estimates incurring costs between $2.5 million and $3.5 million, primarily for personnel expenses like salaries, severance, and benefits, with the majority of cash payments expected within the next twelve weeks. The restructuring is anticipated to be completed in the fourth quarter of 2026. This strategic move aims to support the integration of Baanx and Monavate and maintain expense discipline amidst current market conditions, with an expected annualized cash operating expense savings of $10 million to $13 million, fully realized in 2027. The Company issued a press release on July 17, 2026, detailing these changes.