Gemini Reports Q3 2026 Revenue Decline Amid Lower Trading Volumes
Gemini reported a decline in third-quarter revenue for 2026, totaling $40.9 million, which represents a 19% decrease year-over-year and a 10% sequential drop. The downturn was primarily driven by reduced retail trading activity and fewer large over-the-counter transactions, leading to a significant 47% year-over-year decline in exchange revenue as platform trading volume fell to $4.5 billion. Despite the top-line contraction, the company showed signs of improved fiscal discipline. Net loss narrowed by 63% compared to the previous year, reaching $58.6 million, aided by a 30% reduction in operating expenses following workforce reductions earlier in the year. While credit card revenue saw substantial growth, increased charge-offs related to a prior fraud event and declining custodial fee revenue remain key headwinds.
Tickers: $COIN
Topics: net loss narrowing operating expenses revenue decline trading volume