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Exodus dumps 1,000 bitcoin: Why the crypto wallet is cashing out to fund a payments empire
Key takeaways
- The company held 628 BTC at the end of March, down from 1,704 BTC on Dec. 31, according to its latest quarterly filing.
- Revenue fell 36.8% to $22.7 million in Q1 from $36 million a year earlier, according to Exodus’ earnings release.
- Exodus' solana holdings rose to 17,541 SOL from 12,473 SOL over the same period.
The company held 628 BTC at the end of March, down from 1,704 BTC on Dec. 31, according to its latest quarterly filing. The value of those holdings fell to $42.8 million from $149.2 million.
Revenue fell 36.8% to $22.7 million in Q1 from $36 million a year earlier, according to Exodus’ earnings release. Net loss widened to $32.1 million from $12.9 million, driven in part by a $36.4 million loss on crypto.
Exodus' solana holdings rose to 17,541 SOL from 12,473 SOL over the same period. Their fair value still fell to $1.5 million from $1.6 million over the crypto sell-off seen over the period.
Article preview — originally published by CoinDesk. Full story at the source.
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