According to The Block, StoneX has maintained its "Buy" rating and $12 price target for Exodus Movement, citing that expansion in the payments business and declining costs are helping offset weakness in its legacy crypto wallet business. In the third quarter, Exodus reported revenue of $32.5 million, with the payments business contributing approximately $10.9 million, while wallet-related revenue dropped 29% year-over-year to $21.6 million. Adjusted EBITDA loss narrowed from $6.7 million in the second quarter to $3.9 million, with a net loss of $8.3 million as the company remains unprofitable. The company has resumed card issuance in the U.S., while European card issuance is still pending approval in Latvia. The rating and price target reflect StoneX's analytical assessment.