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Exodus Cuts 25% of Staff on Friday, Expects $2.5M-$3.5M Restructuring Charge

Stocks Price Volatility

2026-07-20 19:32:16

According to its Friday announcement, cryptocurrency wallet company Exodus is cutting 25% of its workforce to refocus on stablecoin payments infrastructure. The company expects to recognize approximately $2.5 million to $3.5 million in pre-tax charges, primarily for severance and related personnel costs, while generating $10 million to $13 million in annualized cash operating expense savings. Based on 215 full-time employees as of December 31, approximately 54 workers may be affected. Exodus stock (NYSE: EXOD) dropped more than 8% to $4.62 since markets opened on Monday.

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