Crypto Wallet Company Exodus Lays Off 25%, Bets on Stablecoin Payment Sector
Source：
www.coindesk.com
According to CoinDesk, crypto wallet company Exodus Movement (EXOD) announced it is laying off approximately 25% of its global workforce. This layoff is part of its strategic transformation — the company is shifting its business focus to stablecoin payments and card infrastructure, aiming to build a full-stack payment platform. The restructuring is expected to incur pre-tax expenses of $2.5 million to $3.5 million, primarily for severance pay and employee-related expenses, while simultaneously expected to save $10 million to $13 million in operating costs annually, with full benefits realized by 2027. Amid this restructuring, Exodus is continuing to integrate its two acquisitions — electronic money institution Monavate and crypto payment company Baanx. EXOD's stock price rose 2.2% in early trading on Monday, but remains down approximately 85% compared to the same period last year.
