Written by Zoltan Vardaistaff writerReviewed by Yohan Yunstaff editor

Written by Zoltan Vardaistaff writer

Reviewed by Yohan Yunstaff editor

Gemini posts $108M Q2 net loss despite 37% revenue growth

Latest NewsPublishedAug 14, 2026

Credit card and staking revenue drove Gemini’s services growth in Q2 as exchange revenue fell 38% and trading volume dropped by two-thirds.

Cryptocurrency exchange Gemini reported a 37% year-over-year rise in second-quarter revenue to $45.5 million, while posting a $107.7 million net loss as exchange trading weakened.

Exchange revenue fell 38% to $12.5 million as trading volume dropped to $3.8 billion from $11.3 billion, the company stated Thursday.

Services revenue climbed 149% to $23.5 million, led by a 231% rise in credit card revenue to $16.2 million and a 50% rise in staking revenue to $4 million. Including interest income, services revenue and interest income totaled $26 million.

Meanwhile, transaction losses rose to $20.1 million from $3.6 million a year earlier, primarily due to a $16.1 million provision for credit losses tied to an identity fraud event involving the credit card portfolio. Gemini stated the elevated provision was concentrated among affected accounts and did not reflect broader deterioration in the portfolio.

Operating expenses rose 24% year-over-year to $122.4 million, though they fell 15% from the first quarter as the company continued cost-cutting measures revealed earlier this year.

Gemini’s stock price rose 3% during regular trading on Thursday, but fell nearly 5% in pre-market trading on Friday following the earnings release, as reported by Yahoo Finance data.  

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• Gemini
• Cryptocurrency Exchange
• Staking
• Credit Cards
• Financial Services
• Business
• Industry

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