Exodus Movement's Q3 Surge: $314M Assets, Bitcoin-Driven Revenue

Exodus Movement, a NYSE-listed firm, reported a robust third-quarter performance, with revenue surging by 51% to $30.3 million, driven by increased swap activity and higher exchange provider volumes. Net income skyrocketed to $17 million, a stark contrast to the $800,000 reported last year. The company ended the quarter with a substantial digital asset portfolio, including over 2,100 Bitcoin and 2,700 Ethereum, along with $50.8 million in cash and other liquid assets, totaling $314.7 million. Exodus CFO, James Gernetzke, revealed that around 60-65% of their monthly revenue comes from Bitcoin payments by third-party providers. Recently, Exodus acquired Grateful, a Latin American stablecoin payments platform, to expand payment options and penetrate new markets.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.