Gemini Revenue Jumps 42% With Credit Cards and New Licenses
Other crypto exchanges have been eyeing business outside of digital assets. Coinbase has aggressively expanded into stock and ETF trading with a goal to become an “everything exchange,” while Kraken has made enabling it to expand into regulated derivatives markets. Total operating expenses increased Alongside revenue growth, Gemini also reported a 73% increase in total operating expenses to $144.5 million in the quarter. This was driven primarily by “compensation, marketing and credit card-related costs associated with the significant business expansion,” the company said. Gemini reported an adjusted EBITDA loss of just under $60 million. Gemini also disclosed Thursday that it closed a $100 million strategic investment from Winklevoss Capital in exchange for 7.1 million shares of common stock, with the investment funded in . Path to becoming a full-stack, end-to-end marketplace In April, the company received a Derivatives Clearing Organization license from the US Commodity Futures Trading Commission, making Gemini one of only a handful of crypto-native platforms in the country to hold both a Designated Contract Market and a DCO license in-house. “This all represents the next step towards Gemini becoming a full-stack, end-to-end marketplace for crypto trading, predictions, futures, options, and more,” the firm stated. Geminis (GEMI) gained 6.9% on Thursday to reach $4.92 in after-hours









