Exodus cuts 25% of staff to fund a full-stack stablecoin-payments pivot

Exodus Movement is reducing its global workforce by approximately 25% while integrating card-infrastructure acquisitions Monavate and Baanx. Management expects the restructuring to produce $10 million to $13 million in annualized cash savings beginning next year. Benchmark retained a Buy rating but cut its price target from $23 to $12 as it lowered revenue forecasts.