The cryptocurrency exchange Gemini, founded by the Winklevoss brothers, demonstrated significant growth in financial metrics in the first quarter of 2026. The company’s total revenue increased by 42% to $50.3 million, positively impacting its stock price — during after-hours trading, it rose by 20%.
This is reported by Finway
Development of the prediction market and implementation of artificial intelligence
For the first time, Gemini disclosed data regarding its prediction platform, Gemini Predictions. Since its launch in December 2025, over 100 million contracts have been executed in this market. The number of users who utilized the service exceeded 20,000, and revenue in the first quarter amounted to $400,000. In April, trading volume on the platform grew by another 78% compared to the previous month.
“Gemini has achieved several major product and regulatory milestones that allow us to evolve from a crypto company into a market company.”
In November 2025, Gemini announced plans to launch a derivatives exchange for trading contracts on sporting events and political elections. In December, the company received CFTC approval to launch Gemini Titan as a designated contract market (DCM). By April 2026, Gemini obtained a DCO license, enabling it to independently manage clearing, collateral, and risks for derivatives.
The company’s president, Cameron Winklevoss, emphasized:
“Gemini has now taken the next step towards creating a fully functional comprehensive marketplace for predictions, futures, options, and other products.”
Additionally, Gemini is actively implementing artificial intelligence technologies for trading. In April, the Agentic Trading platform was launched, allowing AI agents, including Claude and ChatGPT, to connect directly to the exchange’s API for autonomous trading, market analysis, and risk management. The service includes modular Trading Skills functions for obtaining market data, spreads, and analyzing historical charts.
Diversification of business and financial results
Gemini continues to expand its operations beyond spot cryptocurrency trading. In 2026, revenue from exchange trading decreased by 27% to $17.2 million, while total trading volume shrank from $13.5 billion to $6.3 billion. At the same time, services and interest income grew the most: this segment increased by 122% and generated $24.5 million. The credit business accounted for nearly half of the company’s total revenue, and revenue from the Gemini Credit Card nearly quadrupled to $14.7 million. The number of new cardholders in the first quarter exceeded 13,100, and the size of the credit portfolio grew more than threefold from $69 million to $217 million.
Despite the revenue growth, Gemini remains unprofitable. For the quarter, the net loss amounted to $109 million. Operating expenses increased by 73% to $144.5 million, attributed to marketing expenses, expansion of the credit line, increased compensation, legal costs, and reserves for credit losses and fraudulent transactions. Transaction losses surged by 169% to $11.1 million, of which $4.1 million was attributed to the fraud reserve.
In March 2026, Gemini cut about 30% of its staff, reducing the number of employees to 445. At that time, the company’s total annual losses reached $585 million. In April, Winklevoss Capital transferred 572 BTC to custodial addresses, and the value of the Winklevoss brothers’ fund assets approached $858 million.
Despite the challenges, the founders continue to support the platform. On May 14, Winklevoss Capital Fund invested $100 million in Gemini in Bitcoin at a price of $14 per share. Tyler Winklevoss noted:
“We believe the market significantly undervalues Gemini, and this investment will prepare the company for the next phase of growth.”