Daily Market Updates: Gemini reports $108M Q2 net loss despite 37% revenue growth

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

Gemini said exchange revenue fell 38% and trading volume dropped by two-thirds in the quarter.

Reported · Written up by our desk · Results

Gemini posted a $108M net loss in the second quarter even as overall revenue rose 37%, according to Cointelegraph.

The outlet attributed services revenue growth to credit card and staking activity, while noting that exchange revenue declined 38% and trading volume fell by two-thirds.

As a result, the weaker trading performance outweighed strength in those other areas during the quarter.

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Sources

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

Earnings

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

More like this

Sources

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