Exodus sells bitcoin for payments acquisition

Crypto wallet provider Exodus has significantly reduced its Bitcoin holdings, selling over 1,000 BTC in the first quarter to raise approximately $73.2 million. This strategic move aims to fund the company's upcoming acquisition of W3C's payments units and expand its payment infrastructure. Despite the large sale, Exodus also increased its Solana holdings. The company's financial performance in Q1 2026 saw a revenue decrease and a widened net loss, partly due to losses on crypto holdings. However, its cash reserves have substantially increased, positioning it for the acquisition and its broader ambitions in the payments sector.