Crypto Exchanges
By Evie Vavasseur
1 / 15
Workforce Cuts and a $100 Million Lifeline. Gemini's been through a rough stretch internally. The company cut roughly a third of its workforce…
2 / 15
Prediction Markets: Big Ambitions, Tiny Numbers. Cameron Winklevoss, Gemini's president, has been vocal about prediction markets as the company's…
3 / 15
What the Next Quarter Has to Prove. The next quarterly report is going to matter. A lot.
4 / 15
Gemini lost $107.7 million in the second quarter of 2026. That's four straight quarterly losses since the exchange went public on Nasdaq in September 2025.
5 / 15
Assets on the platform dropped 54% to $8.4 billion. Declining crypto valuations hit hard, and institutional money walked out the door. The stock, which opened at $45.
6 / 15
Gemini's been through a rough stretch internally. The company cut roughly a third of its workforce over the past year and lost key executives along the way.
7 / 15
The broader exchange business isn't exactly thriving across the industry right now. Platforms like eToro, Robinhood, and Coinbase all reported declining crypto revenues in the…
8 / 15
Prediction markets brought in $500,000 last quarter. That's roughly 1% of Gemini's total revenue.
9 / 15
The regulatory groundwork took years. Gemini spent five years securing a Designated Contract Market license from the CFTC, which came through in December 2025.
10 / 15
More context: Gemini Credit Card Pulls In $16.2M as Exchange Volume Craters 66%
11 / 15
And it's not just prediction markets. Gemini's been rebuilding its product lineup for the better part of nine months, pushing toward what management calls a "super app for the…
12 / 15
Whether a crypto exchange can successfully become a super app is genuinely unclear. It's a crowded space, and Gemini's brand took hits during the bear market years.
13 / 15
The next quarterly report is going to matter. A lot. Prediction markets need to show they can grow past a rounding error in the revenue column. Credit cards need to find traction.
14 / 15
Winklevoss's forecast that prediction markets could rival traditional capital markets isn't crazy as a long-term thesis.
15 / 15
See also: Gemini Bleeds $108M in Q2 as Trading Volume Crashes by Two-Thirds
The Currency Analytics
Want the full story?