According to CoinMeta, the financial report released by Gemini exchange shows that in the second quarter of 2026, it incurred a net loss of $108 million, despite revenue increasing by 37% year-on-year to $45.5 million. Exchange revenue decreased by 38% to $12.5 million, and trading volume fell from $1.13 billion to $3.8 billion. Service revenue, however, increased by 149% to $23.5 million, mainly due to the growth in credit card revenue and margin trading revenue. Gemini indicates that operating expenses rose by 24% year-on-year to $122.4 million.