Gemini Reports Significant Q2 Net Loss Amidst Shifting Revenue Streams
Gemini Reports Significant Q2 Net Loss Amidst Shifting Revenue Streams
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Crypto exchange Gemini posted a net loss of $108 million in Q2, despite experiencing a 37% increase in overall revenue. This revenue growth was largely driven by its credit card and staking services, which helped to partially offset a substantial 38% decline in exchange revenue and a two-thirds drop in trading volume.
Credit card and staking revenue drove Gemini’s services growth in Q2 as exchange revenue fell 38% and trading volume dropped by two-thirds.