BITCOIN | Another Popular Crypto Wallet Liquidates Over 1,000 Bitcoin Amidst Q1 2026 Losses

Crypto wallet provider, Exodus Movement, posted a net loss of $32.1 million in Q1 2026, more than doubling from a year earlier, after selling nearly two-thirds of its Bitcoin holdings to help finance acquisitions and expand its payments business, according to company disclosures.

The firm said quarterly revenue fell 36.8% to $22.7 million as monthly active users declined. Exodus sold 1,076 Bitcoin during the quarter, reducing its holdings by about 63% to 628 BTC by the end of March 2026. The sale resulted in the company raising $73.2 million which was earmarked for W3C Corp. acquisition.

W3C Corp is the company behind fintechs:

• Monavate, and
• Baanx.

The company added that it ‘expects that volatility in digital asset prices will continue and may result in significant fluctuations in the Company’s results of operations in future periods.’

The company said proceeds from the Bitcoin sales were used to support acquisitions and broader growth initiatives, including its push into global payments infrastructure.

Exodus was one of the first wallets to make crypto feel accessible to non-technical users. When many wallets looked developer-focused or difficult to use, Exodus emphasized polished design, easy onboarding, portfolio tracking, and integrated swaps. That helped introduce a large number of retail users to self-custody during the 2017–2021 crypto expansion.

Within the industry, Exodus is viewed as an important bridge between “crypto-native” infrastructure and mainstream consumers. It sits in a category alongside wallets like MetaMask, Trust Wallet, and Ledger, though Exodus historically focused more on ease-of-use than advanced DeFi tooling.

Exodus, known for its self-custody crypto wallet platform, has been expanding beyond wallet services as competition intensifies across the digital asset sector. The company’s widening losses come amid a broader trend of crypto firms liquidating portions of their Bitcoin treasuries to fund operations and strategic investments.

The company has also been pushing into agentic commerce with the recent launch of XO Cash, a Solana-based stablecoin and software toolkit designed to let AI agents make payments and access services without directly controlling private keys.

The solution is built on top of MoonPay allowing developers to:

• create agent-linked wallets,
• assign spending limits, and
• issue virtual debit cards tied to VISA payment rails.

Exodus said AI agents using XO Cash can make payments with Visa merchants through infrastructure supplied by Monavate and MoonPay, with transactions automatically settled into stablecoins including USDC and USDT at checkout.

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