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.
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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.
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