Exodus to cut 25% of global workforce in payments shift

Finance Exodus to cut 25% of global workforce in payments shift This restructuring is part of a strategy to build a full-stack payments platform following the company's acquisitions of Monavate and Baanx. By Francisco Rodrigues | Edited by Stephen Alpher Jul 20, 2026, 1:53 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on Two individuals leaving an office (The Jopwell Collection/Unsplash) Summary Show Exodus is laying off 25% of its global workforce to reduce costs while pivoting its business focus toward stablecoin payments and card infrastructure. This restructuring is part of a strategy to build a full-stack payments platform following the company’s acquisitions of Monavate and Baanx. The company anticipates $10 million to $13 million in annual cash operating expense savings by 2027, with restructuring charges of $3.5 million. Crypto wallet firm Exodus Movement (EXOD) will cut about 25% of its global workforce as it reshapes its business around stablecoin payments and card infrastructure. The Omaha, Nebraska-based company said in a filing the layoffs are part of a broader effort to lower costs while supporting its strategy of building a full-stack payments platform. The restructuring comes as Exodus continues to integrate Monavate, an electronic money institution, and crypto payments firm Baanx, two acquisitions that have expanded its payments capabilities and international footprint. Exodus said it expects to record pre-tax restructuring charges of between $2.5 million and $3.5 million, mostly tied to severance and employee-related costs. Affected workers will receive severance, continued benefits and transition support. The company said the restructuring should generate annual cash operating expense savings of $10 million to $13 million, with the full benefit expected in 2027. EXOD is higher by 2.2% in early trading Monday, but remains down nearly 85% year-over-year. Crypto News Latest Crypto News 1 Hut 8 surges on $9.8 billion AI data-center lease, lifting compute sector 4 minutes ago 2 Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock 58 minutes ago 3 Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged 1 hour ago 4 Brazil’s securities regulator sets up task force with 60-day deadline for tokenization proposal 1 hour ago 5 A bitcoin 'volmageddon' may be brewing, key indicator suggests 2 hours ago 6 Bank of Korea prepares for live CBDC transactions with 9 banks in September 2 hours ago 7 Crypto market slips even as equities advance. Pump surges on social-media chatter 3 hours ago 8 Hyperliquid plans to add decentralized prediction markets in upgrade to HIP-4 3 hours ago 9 Cross-chain protocol Allbridge halts after $1.65 million flash loan exploit 4 hours ago 10 U.S. regulatory developments and earnings, ECB rate decision: Crypto Week Ahead 4 hours ago Latest Research Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. By CoinDesk Research Jul 13, 2026 CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. Why it matters : CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B. View Full Report More From Finance Hut 8 surges on $9.8 billion AI data-center lease, lifting compute sector Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged