EXODUS SELLS 1,076 BITCOIN IN Q1 TO FUND PAYMENTS ACQUISITION AS REVENUE FALLS 37% Exodus Movement sold 1,076 bitcoin during the first quarter of 2026, cutting its BTC holdings by 63% from 1,704 to 628, as the crypto wallet company liquidated its Bitcoin treasury to fund the acquisition of W3C Corp., the holding company behind fintech firms Monavate and Baanx. Total crypto sold in Q1 reached $73.2 million while purchases totaled $962,000. The company set aside more than $70 million in dollar reserves for W3C closing obligations. Cash, cash equivalents, and stablecoins on the balance sheet rose from $5.2 million to $74.4 million by March 31. Exodus closed the Monavate and Baanx acquisitions on May 1. Q1 revenue fell 36.8% year-over-year to $22.7 million, driven by a 40.8% drop in exchange aggregation revenue as user trading volumes declined. The company reported a net loss of $32.1 million, up from $12.9 million in Q1 2025. The digital asset portfolio produced a net loss of $36.4 million, reflecting $76.8 million in unrealized losses partly offset by $40.4 million in realized gains from crypto sales. Monthly active users dipped to 1.5 million from 1.6 million a year ago, while quarterly funded users fell 22.2% to 1.4 million. Exodus added 5,068 Solana during the quarter, bringing SOL holdings to 17,541 tokens, as the company rotated its treasury toward stablecoins and cash ahead of the acquisition close. The EXOD stock fell more than 5% on the day of the results. The W3C acquisition adds card issuing and payment infrastructure to Exodus’s self-custody wallet business, extending the company’s strategy of building regulated crypto payment infrastructure on top of its core wallet product.