Gemini Q3 Revenue Falls to $40.9M as Trading Volume Drops 73% YoY

Cointime reports: Gemini (GEMI) reported third-quarter total revenue of $40.9 million, down 19% year over year, with platform trading volume falling to $4.5 billion from $16.4 billion a year earlier. Exchange revenue dropped 47% to $13.4 million, while net loss narrowed 63% to $58.6 million and total operating expenses fell 30% to $119.9 million. Services and interest income combined reached $23.3 million, representing 59% of net revenue.