Exodus Wallet’s Q2 2023: Revenue Down, Costs Cut by 6% 🛑
#Exodus Wallet's Q2 2023 report reveals a 4% YoY revenue decline, totaling $12.4 million, while cost reductions of 6% amounted to $7.1 million.
The exchange aggregation business contributed the most to revenue, at $11.6 million, with a 220% rise in fiat onboarding revenue.
Despite a 12% decrease in exchange transactions, #bitcoin , Tether, and Ether remained top traded assets. Monthly active users dropped 6% to 772,839.
Exodus strategically cut costs via workforce reduction and lowered expenses. The firm holds $55M in cash, $46.2M in Bitcoin. Integrations with Robinhood and support for new tech were notable. CEO JP Richardson aims to offer #Wallet-as-a-Service to other firms.
