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

Odaily reports that crypto wallet service provider Exodus Movement sold approximately $73.2 million in crypto assets during the first quarter. Its BTC holdings decreased by 1,076 BTC, a decline 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, it added 5,068 SOL, increasing its total SOL holdings to 17,541.

The company stated that the proceeds from these sales were mainly used to acquire the W3C payment business and to meet upcoming payment obligations. It has converted over $70 million into USD reserves, boosting 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.