Overview
- Q3 net revenue rose about 52% to roughly $50 million, helped by higher trading activity and stronger services such as credit cards, staking and custody.
- The company reported a $159.5 million net loss with operating expenses climbing to $171.4 million, and the loss came in wider than analysts expected.
- Shares fell more than 11% after hours to below $15 and slid further on Tuesday to an intraday low near $13.88, setting a new post-IPO trough.
- Trading volume reached $16.4 billion, services revenue hit about $19.9 million, the credit card surpassed 100,000 active accounts with $350 million in spend, and staking balances rose to $741 million.
- Gemini filed with the CFTC to enable prediction markets pending approval and advanced international expansion with a MiCA license in Europe and a launch in Australia.