Exodus Projects Up to $13 Million in Annual Savings Following Workforce Cut; Benchmark Offers Support
Exodus expects to achieve $10 million to $13 million in annualized cost savings through a recent restructuring, which included a 25% reduction in its workforce. The company's strategic pivot towards stablecoins, identified as potentially overlooked by some, has received backing from venture capital firm Benchmark. This information was disclosed late Friday afternoon.
Exodus has announced projections of $10 million to $13 million in annualized cost savings as a result of its recent restructuring initiatives. The company's efforts involved a 25% reduction in its workforce.
Adding to the strategic shift, Exodus is also implementing a pivot towards stablecoins. This specific change in direction is reportedly being overlooked by some industry observers.
Venture capital firm Benchmark has expressed its support for Exodus following these changes. The announcement regarding the anticipated cost savings was made late on a Friday afternoon.
According to The Block Crypto, these developments mark a significant period for Exodus as it navigates its operational and strategic future.
