Українська
Русский
English
Gemini Shares Surge Following Strong Q1 Earnings Report
- Gemini increased its total revenue by 42%.
- The exchange also reported surpassing 100 million contracts traded on its prediction market platform.
- In addition, the crypto platform is expanding into AI-powered trading using Anthropic Claude and OpenAI ChatGPT.
Cryptocurrency exchange Gemini, founded by the Winklevoss brothers, reported a 42% increase in total revenue for Q1 2026, reaching $50.3 million.
Following the report, the company’s shares surged 20% during after-hours trading.
Gemini Space Station Inc. stock price. Source: Yahoo! Finance.
Gemini Prediction Market Surpasses 100 Million Contracts
The company also disclosed operational metrics for its prediction platform Gemini Predictions for the first time.
Since launching in December 2025, the platform has surpassed 100 million traded contracts.
Tyler Winklevoss, CEO of Gemini, stated:
“Gemini has achieved several major product and regulatory milestones that allow us to evolve from a crypto company into a market company.”
The platform said more than 20,000 users have already traded contracts on Gemini Predictions.
The segment generated $400,000 in revenue during Q1, while April trading volume increased another 78% compared to the previous month.
Back in November 2025, Bloomberg reported that Gemini planned to enter the prediction market industry through a new derivatives exchange focused on sports and election contracts.
In December, the company received approval from the Commodity Futures Trading Commission (CFTC) to launch Gemini Titan as a DCM.
Gemini Expands Into Derivatives, AI, and Credit Services
In April 2026, Gemini also received a DCO license from the CFTC.
The license allows the company to independently manage clearing, collateral, and derivatives risk operations.
Gemini President Cameron Winklevoss stated:
“Gemini has now taken the next step toward building a fully integrated marketplace for predictions, futures, options, and other products.”
The company is increasingly diversifying beyond spot crypto trading.
Gemini’s exchange revenue declined 27% year-over-year to $17.2 million, while total trading volume dropped from $13.5 billion to $6.3 billion.
At the same time, the services and interest income segment became the fastest-growing business line:
- segment revenue increased 122% to $24.5 million;
- nearly half of the company’s total revenue came from its lending business;
- Gemini Credit Card revenue jumped nearly 300% to $14.7 million;
- the number of new cardholders exceeded 13,100 during Q1.
The company’s credit portfolio grew more than threefold year-over-year, rising from $69 million to $217 million.
Gemini Launches AI Trading Infrastructure
Gemini is also making a major push into artificial intelligence.
In April, the company launched Agentic Trading, a system that allows AI agents — including Claude and ChatGPT — to connect directly to the exchange’s API for autonomous trading, market monitoring, and risk management.
The service includes a Trading Skills toolkit featuring modular functions for accessing market data, spreads, and historical charts.
Gemini Remains Unprofitable Despite Revenue Growth
Despite strong revenue growth, Gemini finished the quarter with a net loss of $109 million.
Operating expenses rose 73% year-over-year to $144.5 million.
The increase was driven by:
- marketing expenses;
- expansion of lending operations;
- higher compensation costs;
- legal expenses;
- reserves for credit losses and fraud.
Transaction-related losses rose 169% to $11.1 million, including a $4.1 million reserve tied to fraudulent activity.
Gemini Reduced Staff Amid Financial Pressure
Amid growing financial pressure, Gemini reduced its workforce by approximately 30% in March 2026.
At the time, reports indicated that the company’s cumulative annual losses had reached $585 million, while total staff count had declined to roughly 445 employees.
In April, Winklevoss Capital also transferred 572 BTC to custodial addresses amid Gemini’s ongoing difficulties.
According to Arkham Intelligence, the Winklevoss brothers’ investment fund held assets valued at approximately $858 million.
Founders Continue Supporting the Platform
Despite the financial challenges, the company’s founders continue to support the platform.
On May 14, Winklevoss Capital invested $100 million in Bitcoin into Gemini at a share price of $14.
Tyler Winklevoss commented on the investment:
“We believe the market is significantly undervaluing Gemini, and this investment will help prepare the company for its next phase of growth.”
See also: "Coinbase Makes Major Announcement Regarding Hyperliquid (HYPE) and USDC"
