Gemini Trading Volume Plunges 73% as Third-Quarter Revenue…
By Abdelaziz Fathi
AI summary of the source article
Gemini Space Station reported a 19% drop in third-quarter revenue to $40.9 million as trading volume plunged 73% year-over-year. Reduced operating expenses helped narrow its net loss to $58.6 million from $159.5 million a year earlier.
Why it matters
The results illustrate Gemini's continuing dependence on cryptocurrency trading conditions even as management reduces costs and expands into credit cards, prediction markets and institutional trading infrastructure.
Key facts
- Q3 revenue fell 19% year-over-year to $40.9 million, and trading volume dropped 73% to $4.5 billion.
- Operating expenses fell 30% year-over-year to $119.9 million, helping narrow the net loss to $58.6 million.
- Platform assets increased to $13.4 billion from $8.4 billion in June, while monthly transacting users declined 2% to 577,000.
Source excerpt · FinanceFeeds
Gemini Space Station reported a 19% decline in third-quarter revenue as cryptocurrency trading activity fell sharply, although lower operating expenses helped the exchange narrow its net loss to $58.6 million from $159.5 million a year earlier.The Winklevoss-founded company generated $40.9 million in revenue for the quarter ended September 30, 2026, compared with $50.6 million a year earlier and $…