TREE NEWS update: Crypto exchange Gemini reported a $108 million net loss in Q2, despite a 37% revenue increase driven by credit card and staking services. Exchange revenue fell 38% and trading volume dropped by two-thirds, highlighting the challenging market conditions.
Gemini posts $108M Q2 net loss despite 37% revenue growth
AI take
The split matters more than the headline loss: Gemini's growth is coming from credit card and staking services, while its core exchange business is contracting sharply on both revenue and volume. That suggests the platform is increasingly leaning on non-trading products to offset a weak trading environment, a shift worth watching across other exchanges facing the same volume drought. Whether staking and card revenue can keep scaling fast enough to cover a shrinking exchange franchise is the open question.
Generated by AI for reference only.
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