Gemini’s Q3 Loss Shrinks, but Crypto Marks Did Much of the Work
By Unchained
AI summary of the source article
Gemini Space Station reduced its third-quarter net loss by 63% to $58.6 million as operating expenses dropped 30%. Total revenue declined 19% to $40.9 million, while trading volume fell 73% year-over-year to $4.5 billion.
Key facts
- Gemini reduced its Q3 net loss by 63% to $58.6 million from $159.5 million a year earlier.
- Total revenue fell 19% to $40.9 million, with exchange revenue falling 47% to $13.4 million.
- Operating expenses dropped 30% to $119.9 million, led by lower pay and a 75% reduction in sales and marketing.
Source excerpt · Unchained
The Winklevoss-founded exchange's revenue fell 19% to $40.9 million, and its trading volume, though up from the second quarter, was still down 73% from a year earlier. The post Gemini’s Q3 Loss Shrinks, but Crypto Marks Did Much of the Work appeared first on Unchained .