Exodus Movement, Inc. November 2025 Treasury Update and Monthly Metrics
Rhea-AI Summary
Exodus Movement (NYSE: EXOD) provided a November 30, 2025 treasury and metrics update including selected digital asset holdings, user metrics, and swap volumes.
Key figures: Bitcoin holdings were 1,902 BTC (down from 2,147 BTC on Oct 31, 2025); 1,116 BTC of that is pledged as collateral under a credit facility. Ethereum was 2,802 ETH (vs 2,784 on Oct 31). Solana fell to 31,050 SOL from 49,567 SOL. Monthly active users were 1.5 million MAUs (vs 1.6 million on Oct 31). Exchange provider processed volume was reported at $549 million for the month (with $200 million, 36%, from XO Swap partners) compared with $683 million and $251 million (37%) in the comparable period.
The company noted its treasury will be used to facilitate its announced acquisition of W3C and that it retains financing optionality to meet closing cash needs.
Positive
- Company has an agreement to acquire W3C using treasury resources
- Maintains financing optionality to meet acquisition closing needs
Negative
- Bitcoin holdings declined by 245 BTC (-11%) month-over-month
- Solana holdings declined by 18,517 SOL (-37%) month-over-month
- 1,116 BTC pledged as collateral (~59% of 1,902 BTC), limiting free BTC availability
Key Figures
Market Reality Check
Peers on Argus
EXOD was up about 1.57% while most close peers in Software - Infrastructure showed negative moves (e.g., SABR -8.54%, PSFE -4.12%), pointing to more stock-specific dynamics.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Dec 01 | Advisory on W3C deal | Positive | -10.4% | Advisor highlighted $175M W3C sale and $60M term loan facility support. |
| Nov 24 | Major acquisition | Positive | +3.6% | Definitive agreement to acquire W3C to add end-to-end payments stack. |
| Nov 10 | Q3 2025 earnings | Positive | +1.1% | Strong revenue and net income growth with higher exchange activity. |
| Nov 10 | Grateful acquisition | Positive | +1.1% | Agreed to acquire Grateful to strengthen stablecoin-based payments. |
| Nov 06 | Treasury update | Neutral | -7.7% | Provided October treasury balances and monthly metrics with higher swap volume. |
Recent strategic and earnings updates have mostly seen positive price reactions, but two treasury/transaction-related updates drew notable negative moves, showing occasional selloffs on otherwise constructive news.
Over the last month, Exodus has reported several major developments. On November 6, 2025, it detailed October treasury balances and swap volume, followed by strong Q3 2025 results on November 10 with revenue of $30.3 million and net income of $17.0 million. The same day, Exodus announced the acquisition of Grateful to bolster stablecoin payments. On November 24–25, it agreed to acquire W3C Corp for about $175 million, and on December 1 an advisor highlighted the deal financing, including a $60 million term loan facility. Today’s treasury and user-metrics update fits this sequence of capital deployment and operating transparency.
Market Pulse Summary
This announcement details how Exodus’ treasury underpins its W3C acquisition plans while updating operating metrics. The company reported 1,902 BTC in treasury, with 1,116 BTC pledged as collateral, plus 2,802 ETH and 31,050 SOL. MAUs were 1.5 million, down from 1.6 million, and swap volume was $549 million versus $683 million. Investors may watch future treasury allocation, user trends, and exchange volume as indicators of strategic progress.
Key Terms
collateral financial
credit facility financial
monthly active users technical
AI-generated analysis. Not financial advice.
Digital asset holdings facilitate Exodus’ agreement to acquire W3C
OMAHA, Neb., Dec. 09, 2025 (GLOBE NEWSWIRE) -- Exodus Movement, Inc. (NYSE American: EXOD) ("Exodus" or “the company”), a leading self-custodial cryptocurrency platform, today announced an update to selected digital asset holdings of Exodus’ corporate treasury, as well as updated user and exchange provider processed volume metrics, as of November 30, 2025:
Selected Digital Asset Holdings (Unaudited)
Bitcoin (BTC): 1,902 BTC as of November 30, 2025, compared to 2,147 BTC as of October 31, 2025.
Of the 1,902 BTC held as of November 30, 2025, 1,116 BTC is pledged as collateral under the Company’s credit facility with Galaxy Digital.
Ethereum (ETH): 2,802 ETH as of November 30, 2025 compared to 2,784 as of October 31, 2025.
Solana (SOL): 31,050 SOL as of November 30, 2025 compared to 49,567 as of October 31, 2025.
Exodus CFO James Gernetzke remarked: “Our announcement of the acquisition of W3C highlights how we are putting our treasury to work. The transaction will have future cash needs as it goes through the closing process; Exodus retains financing optionality to meet these needs, including directly using operational proceeds in our treasury.”
“While Exodus holds digital assets, we have never been a ‘Digital Asset Treasury’ company as the majority of our treasury was earned through business operations. Pursuant to our stated M&A goals, Exodus remains ready and willing to use our treasury to facilitate strategic acquisitions.”
Users
Monthly Active Users (MAUs): 1.5 million as of November 30, 2025. That figure compares with the 1.6 million MAUs as of October 31, 2025.
Swap Volume
Exodus’ exchange provider processed volume was
About Exodus
Exodus is a financial technology leader empowering individuals and businesses with secure, user-friendly crypto software solutions. Since 2015, Exodus has made digital assets accessible to everyone through its multi-asset crypto wallets prioritizing design and ease of use.
With self-custodial wallets, Exodus puts customers in full control of their funds, enabling them to swap, buy, and sell crypto. Its business solutions include Passkeys Wallet and XO Swap, industry-leading tools for embedded crypto wallets and swap aggregation.
Exodus is committed to driving the future of accessible and secure finance. Learn more at exodus.com or follow us on X at x.com/exodus.
Investor Contact
investors@exodus.com
Media Contact
Aubrey Strobel/Elena Nisonoff, Halcyon Communications
exodus@halcyonpr.xyz
Disclosure Information
Beginning with the next release, the Company is transitioning to issuing its monthly selected digital asset holdings of Exodus’ corporate treasury, as well as updated user and exchange provider processed volume metrics solely by press release and does not plan to furnish corresponding Form 8-K filings going forward.
Exodus uses the following as means of disclosing material nonpublic information and for complying with disclosure obligations under Regulation FD: websites exodus.com/investors and exodus.com; press releases; public videos, calls, and webcasts; and social media: X (@exodus and JP Richardson's feed @jprichardson), Facebook, LinkedIn, and YouTube.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements are based on our beliefs and assumptions and on information currently available to us as of the date hereof. In some cases, you can identify forward-looking statements by the following words: “will,” “expect,” “would,” “should,” “intend,” “believe,” “expect,” “likely,” “believes,” “views”, “estimates”, or other comparable terminology.
Forward-looking statements in this document include, but are not limited to, management statements regarding management’s confidence in our products, services, business trajectory and plans, expectations regarding demand for our products, and volatility and trading volumes of digital asset markets. Such forward-looking statements involve a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Such factors include those set forth in “Item 1. Business” and “Item 1A. Risk Factors” of Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 6, 2025, as well as in our other reports filed with the SEC from time to time.
All forward-looking statements are expressly qualified in their entirety by such cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Except as required by law, we undertake no obligation to update or revise any forward-looking statements that have been made to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events.
FAQ
What did Exodus (EXOD) report for its Bitcoin holdings as of November 30, 2025?
How much of Exodus' Bitcoin treasury is pledged as collateral under its credit facility?
What change occurred in Exodus' Solana (SOL) holdings between Oct 31 and Nov 30, 2025?
