Exodus Cuts 25% of Global Workforce, Shifts Focus to Stablecoin Payments and Card Infrastructure

Odaily News: Exodus is laying off 25% of its global workforce to reduce costs and refocus its business on stablecoin payments and card infrastructure. The company stated that this restructuring is part of its strategy to build a full-stack payment platform following the acquisitions of Monavate and Baanx. It expects to save $10 million to $13 million in annual cash operating expenses by 2027, with restructuring costs of $3.5 million.