Crypto Exchange Gemini Reports $108 Million Net Loss

Cryptocurrency exchange Gemini (NASDAQ: $GEMI) has reported a $107.7 million U.S. net loss for this year's second quarter as trading in digital assets slowed on its platform. 

The company, led by twin brothers Cameron and Tyler Winklevoss, said that the latest net loss narrowed 19% from a loss of $133.2 million U.S. in the same period last year.

At the same time, Gemini reported $45.5 million U.S. in total revenue, up 19% from $33.3 million U.S. a year earlier.

Despite signs of improvement, GEMI stock is down 5% on Aug. 14 after the company's latest print. In the earnings statement, Gemini CEO Tyler Winklevoss said "We still have work to do…"

Gemini, which went public in September 2025, has been diversifying its business, adding crypto-focused credit cards and launching a prediction market. 

Revenue from Gemini's credit cards rose 231% year-over-year to $16.2 million U.S., while staking revenue on the company's crypto holdings grew 50% to $4 million U.S.

However, revenue from trading in digital assets such as Bitcoin (CRYPTO: $BTC) fell 38% to $12.5 million U.S. amid a total trading volume drop to $3.8 billion U.S. from $11.3 billion U.S. a year ago.

Gemini's prediction market generated $500,000 U.S. in revenue during the latest quarter, up slightly from the $400,000 U.S. it disclosed following its launch in December 2025.

There has been speculation in recent months that Gemini might be a takeover target given the company's ongoing struggles. 

Since going public last September, GEMI stock has declined 87% to trade at $4.08 U.S. per share.