Zcash

Gemini

Apex

<ul>
 <li>Retail trading fell to $600 million, its lowest quarterly level in three years.</li>
 <li>Credit cards generated $15.5 million, exceeding the exchange business by $2.1 million.</li>
 <li>Prediction market revenue rose 52% from Q2 but remained below $1 million.</li>
</ul>
Gemini reported a $58.6 million third-quarter net loss on November 12, down from $159.5 million a year earlier. Cost cuts helped narrow the loss even as spot trading volume fell 73% and total revenue dropped 19% to $40.9 million. Shares rose 6.5% to $2.79 in after-hours trading, though they remained down about 75% for the year.<a href="https://investors.gemini.com/news-releases/news-release-details/gemini-reports-third-quarter-2026-results?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
<h2 class="wp-block-heading" id="why-gemini-trading-volume-rose-from-q2-despite-a-retail-slump">Why Gemini trading volume rose from Q2 despite a retail slump</h2>
In its<a href="https://investors.gemini.com/news-releases/news-release-details/gemini-reports-third-quarter-2026-results?utm_source=chatgpt.com" rel="noopener noreferrer nofollow"> quarterly earnings release</a>, Gemini put spot trading volume at $4.5 billion, down from $16.4 billion a year earlier. Compared with the previous quarter, however, volume rose 18%. The company credited increased institutional trading in Zcash and greater activity by affiliated market makers.<a href="https://investors.gemini.com/news-releases/news-release-details/gemini-reports-third-quarter-2026-results?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
Institutions traded $3.9 billion, up 26% from Q2. Retail customers traded $600 million, down 14% and the lowest quarterly total since 2023. Retail customers still accounted for nearly three-quarters of exchange revenue despite representing only about 13% of volume.<a href="https://investors.gemini.com/news-releases/news-release-details/gemini-reports-third-quarter-2026-results?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
That gap helps explain why the rebound in trading produced a smaller increase in fees. Exchange revenue rose 7% from Q2 to $13.4 million as institutional revenue more than doubled. It remained 47% below the prior-year quarter.<a href="https://investors.gemini.com/news-releases/news-release-details/gemini-reports-third-quarter-2026-results?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
<h2 class="wp-block-heading" id="credit-cards-bring-in-more-revenue-than-the-crypto-exchange">Credit cards bring in more revenue than the crypto exchange</h2>
Gemini cut operating expenses 30% year over year to $119.9 million, primarily by spending less on marketing and employee compensation. It was the third consecutive quarter of lower spending. The net loss also narrowed from $107.7 million in Q2.<a href="https://www.globenewswire.com/news-release/2026/11/12/3402279/0/en/gemini-reports-third-quarter-2026-results.html?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
Credit card revenue <a href="https://www.globenewswire.com/news-release/2026/11/12/3402279/0/en/gemini-reports-third-quarter-2026-results.html?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">rose 82% year over year to $15.5 million</a>, overtaking exchange revenue despite a 4% dip from Q2. Card losses also grew: charge-offs reached $11.5 million, up from $3.4 million a year earlier, partly because of a previously disclosed fraud incident.<a href="https://www.globenewswire.com/news-release/2026/11/12/3402279/0/en/gemini-reports-third-quarter-2026-results.html?utm_source=chatgpt.com" rel="noopener noreferrer nofollow">&nbsp;</a>
Gemini earned $796,000 from prediction markets, up 52% from Q2. An August letter of intent with Apex Fintech Solutions could let brokerages offer its event contracts. The agreement remains nonbinding.
<pre class="wp-block-preformatted">Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.</pre>
&lt;p&gt;The post <a rel="noopener noreferrer nofollow" href="https://coincryptonewz.com/gemini-trading-volume-falls-73-as-quarterly-loss-narrows-to-59m/">Gemini Trading Volume Falls 73% as Quarterly Loss Narrows to $59M</a> first appeared on <a rel="noopener noreferrer nofollow" href="https://coincryptonewz.com">Coin Crypto Newz</a>.&lt;/p&gt;

Gemini Trading Volume Falls 73% as Quarterly Loss Narrows to $59M

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