Exodus sells approximately $73.2 million in crypto assets, BTC holdings decrease by 1,076 BTC

Odaily reported that cryptocurrency wallet service provider Exodus Movement sold approximately $73.2 million in crypto assets in the first quarter, with its BTC holdings decreasing by 1,076 BTC, a reduction of about 63%, leaving only 628 BTC. The fair value of these assets dropped from $149.2 million to $42.8 million. During the same period, the company added 5,068 SOL, bringing its total SOL holdings to 17,541 SOL.

The company stated that the proceeds from these sales were primarily used to acquire the W3C payment business and to pay upcoming consideration. It has also converted over $70 million into U.S. dollar reserves, boosting its cash, cash equivalents, and stablecoin balance from $5.2 million to $74.4 million. Due to the impairment and disposal of crypto assets, Exodus's first-quarter revenue fell 36.8% year-over-year to $22.7 million, while its net loss widened to $32.1 million.