Exodus sells over 1,000 Bitcoin as Q1 loss widens to $32M

Exodus Movement reported a net loss of $32.1 million for the first quarter of 2026, more than double the $12.9 million loss recorded in the same period last year, as the crypto wallet company liquidated the bulk of its Bitcoin treasury to fund acquisitions.

Total revenue came in at $22.7 million for the three months ended March 31, down 36.8% from $36 million a year earlier, the company announced Monday.  Exchange aggregation, the company’s main business line, drove most of the decline, sliding $13.8 million, or 40.8%, as user trading volumes dried up.

Monthly active users dipped to 1.5 million from 1.6 million a year ago, while quarterly funded users fell more sharply, dropping 22.2% to 1.4 million from 1.8 million.

The company cited macroeconomic pressures, including the Federal Reserve’s revised growth outlook and uncertainty around the administration’s tariff policy, as primary drivers of the market-side damage. “The Company expects that volatility in