Exodus Movement, Inc. is cutting its global workforce by approximately 25%.
The company is realigning operations to focus on stablecoin payments and card issuance.
This strategic shift follows the recent acquisitions of Monavate and Baanx.
Exodus expects to incur pre-tax severance charges between $2.5 million and $3.5 million.
The layoffs will generate $10 million to $13 million in annualized cash operating savings.
Management expects to realize the full financial benefit of this restructuring by 2027.