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

Crypto 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 decline of about 63%, leaving only 628 BTC. The fair value of assets dropped from $149.2 million to $42.8 million. During the same period, it added 5,068 SOL, bringing its total SOL holdings to 17,541 SOL.

The company stated that the proceeds 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, increasing its cash, cash equivalents, and stablecoin balance from $5.2 million to $74.4 million. Impacted by 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.