Exodus plans to cut 25% of its workforce, shifting its strategy to stablecoin payment infrastructure.

Crypto wallet firm Exodus Movement (EXOD) announced it will lay off roughly 25% of its global workforce to cut operating costs and pivot its business toward stablecoin payments and card payment infrastructure. In a regulatory filing, Exodus stated the restructuring is part of its strategy to build a full-stack payments platform. The company has recently been integrating its acquired entities—e-money institution Monavate and crypto payments firm Baanx—to expand its payment capabilities and global business footprint. Exodus projects the layoffs will generate pre-tax restructuring costs of $2.5 million to $3.5 million, primarily for employee severance and related expenses. Affected staff will receive severance pay, extended benefits, and transition support. The company expects annual cash operating expenses to decrease by $10 million to $13 million once the restructuring is complete, with full savings realized in 2027. On the market front, EXOD rose roughly 2.2% in pre-market trading on Monday, though it remains down nearly 85% over the past year. This adjustment reflects crypto firms accelerating their shift toward stablecoin payments, financial infrastructure, and other business segments.