Exodus to cut 25% of workforce for stablecoin payment shift

Exodus Movement will reduce its global workforce by about 25% as part of a strategy to focus on stablecoin payments and card infrastructure. The Omaha-based company announced that the layoffs are intended to lower costs while developing a full-stack payments platform. This restructuring follows the integration of Monavate and Baanx, two acquisitions that enhance its payments capabilities. Exodus anticipates pre-tax restructuring charges between 2.5 million and 3.5 million dollars, primarily for severance and employee-related costs. Affected employees will receive severance, continued benefits, and transition support. The company expects annual cash operating expense savings of 10 million to 13 million dollars, with full benefits realized by 2027. EXOD shares rose 2.2% in early trading Monday, but are down nearly 85% year-over-year.

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