Gemini

Robinhood

Bitcoin

Investors sold off shares of the crypto exchange Gemini on Monday, sending the stock to an all-time low after the bell, as the company’s first quarterly results showed losses due to the expense of going public.Gemini released its third-quarter <a href="https://investors.gemini.com/node/7166/html" rel="noopener noreferrer nofollow">results</a> on Monday, its first after <a href="https://cointelegraph.com/news/gemini-ipo-nasdaq-crypto-stocks-surge-2025" rel="noopener noreferrer nofollow">going public in September</a>, and reported revenues of $50.6 million, more than doubling from $24.5 million the same time a year ago.The company, however, posted a net loss of $159.5 million, widening from $90.1 million a year ago, largely due to costs related to compensation and advertising ahead of its <a href="https://cointelegraph.com/learn/articles/what-is-an-ipo-a-beginners-guide-on-how-crypto-firms-can-go-public" rel="noopener noreferrer nofollow">initial public offering</a>.Shares in Gemini (GEMI) ended trading on Monday up 4% to $16.84, but plummeted to a low of $14.75 after the bell. The stock slightly recovered to finish the after-hours trading session down 6.2% to an all-time low of $15.80.<figure><img src="https://s3.cointelegraph.com/uploads/2025-11/019a711d-9a1c-723b-8759-52952ac86dc6" title="" alt="Gemini bets on ‘super app’ as stock sinks to record low on Q3 results"><figcaption>Shares in Gemini sharply dropped on the announcement of its Q3 results after-hours, but later recovered. Source: <a href="https://www.google.com/finance/quote/GEMI:NASDAQ" rel="noopener noreferrer nofollow">Google Finance</a></figcaption></figure>Gemini’s share price has dropped around 40% since going public at $28 a share on Sept. 12, as the crypto market failed to sustain a rally that hit its peak in early October.<h2 id="gemini-betting-on-super-app-ambition">Gemini betting on “super app” ambition</h2>The share price fall comes as Gemini president and co-founder Cameron Winklevoss signalled to investors on an earnings call that the exchange is betting on building a crypto “super app” to <a href="https://cointelegraph.com/news/coinbase-super-app-brian-armstrong-banking-vision" rel="noopener noreferrer nofollow">bring together multiple products</a>.“We’re really excited about building toward the super app,” he said. “It’s an onchain future. We’re an onchain company, and this is our wheelhouse.”<figure><img src="https://s3.cointelegraph.com/uploads/2025-11/019a711d-9e7b-7df7-b7c4-e6daf59d62a8" title="" alt="Gemini bets on ‘super app’ as stock sinks to record low on Q3 results"><figcaption>Cameron Winklevoss speaks onstage during a TechCrunch conference in 2015. Source: <a href="https://www.flickr.com/photos/techcrunch/17392701831/" rel="noopener noreferrer nofollow">TechCrunch</a></figcaption></figure>“Our view is that markets are all going onchain. Pretty soon, you will be able to hold a tokenized dollar via stablecoin, tokenized equity, and digital commodities, all within one app,”&nbsp; Winklevoss said. “We’re making very good progress there.”Related: <a href="https://cointelegraph.com/news/etoro-stock-q3-results-150m-buyback-plan" rel="noopener noreferrer nofollow">EToro stock jumps on Q3 results, $150M buyback plan</a>&nbsp;Winklevoss added that the company’s ambition is to create its own products, rather than partnering with or <a href="https://cointelegraph.com/news/the-secret-behind-coinbase-s-billion-dollar-m-a-strategy" rel="noopener noreferrer nofollow">buying other companies</a>.<h2 id="prediction-markets-are-like-bitcoin-in-2012-winklevoss">Prediction markets are like Bitcoin in 2012: Winklevoss</h2>Winklevoss added that he was “very excited” about the exchange adding <a href="https://cointelegraph.com/learn/articles/decentralized-prediction-markets-how-do-they-work" rel="noopener noreferrer nofollow">prediction markets</a>, which typically allow users to bet on the outcome for a range of events from sports to politics.“This idea that you can essentially build a market on anything, any kind of event, is fascinating and really a boundless opportunity,” he added. “We are working to bring those live globally.”<blockquote> “We think it’s very early days. It reminds us a lot of what Bitcoin felt like in 2012 when we first discovered it.”
</blockquote>Gemini said it filed to become a designated contract market with the Commodity Futures Trading Commission to offer prediction markets, confirming a report on Wednesday that it <a href="https://cointelegraph.com/news/gemini-plans-prediction-markets-offering-bloomberg" rel="noopener noreferrer nofollow">was eyeing entry</a> into the sector.“Once the government opens back up, we hope to continue pursuing that application and hopefully bring these products to market soon thereafter,” Winklevoss said.Magazine: <a href="https://cointelegraph.com/magazine/?p=46542&amp;preview=true&amp;_thumbnail_id=46743" rel="noopener noreferrer nofollow">Can Robinhood or Kraken’s tokenized stocks ever be truly decentralized?</a>&nbsp;

Gemini bets on ‘super app’ as stock sinks to record low on Q3 results

Table of Contents

Cointelegraph

Other articles published on Nov 11, 2025

Crypto VC Trends Shift as Community Funding Rises

U.S. Senate Bill Expands CFTC Oversight on Cryptocurrencies

Coinbase Introduces Savings Accounts in the UK, Offering 3.75% AER and £85K Deposit Coverage

Institutional Momentum Fuels HBAR Surge as Market Eyes Long-Term Growth

Upcoming Relaunch of WEMIX.Fi

Phone robbery: 4 UK-based Nigerians sentenced 22 years jail term

Join our free newsletter for daily crypto updates!