Exodus layoffs — Jul 17, 2026

Exodus to Cut 54 Jobs, or 25% of Workforce, in July 17 Restructuring

Crypto wallet company Exodus Movement is cutting about 25% of its global workforce, potentially affecting approximately 54 employees, according to a company notice filed with the U.S. Securities and Exchange Commission on July 17, 2026. The reduction is part of a restructuring focused on the company’s stablecoin payments, card issuance and broader payments strategy.

Exodus reported 215 full-time employees as of Dec. 31, 2025, meaning the 25% reduction could affect roughly 54 positions. The company did not disclose an exact number of layoffs or identify the departments involved. Affected employees will receive severance, continued benefits and other transition support, according to the notice.

The company said the workforce reduction will align its costs and staffing priorities with its payments strategy, while also citing current market conditions and the ongoing integration of Monavate and Baanx. Exodus is combining the two businesses as it develops a full-stack stablecoin payments and card platform.

Exodus expects the restructuring to generate between $10 million and $13 million in annualized cash operating expense savings, with the full financial benefit expected in 2027. Before then, the company anticipates between $2.5 million and $3.5 million in pretax charges, primarily related to severance and other employee departure costs.

“These decisions are never easy because they affect talented people who have helped build Exodus,” co-founder and CEO JP Richardson said. “We are deeply grateful for their contributions and committed to supporting them through this transition.”

Sources: crypto.news