“We believe the market has significantly undervalued Gemini, and that this investment will allow us to set up the company for its next phase of growth,” said Gemini CEO Tyler Winklevoss, in a statement. “Gemini has achieved several major product and regulatory milestones that position us well to evolve from a crypto company into a markets company. This investment will help fuel that ambition and set Gemini up for long-term success.”
The 42% year-over-year revenue growth reflected Gemini's accelerating shift beyond traditional crypto trading. Services revenue and interest income surged 122% to $24.5 million, now representing 49% of total revenue compared to 31% a year ago. Credit card revenue nearly quadrupled to $14.7 million.
Gemini's newest venture, prediction markets, generated $0.4 million in its first full quarter after launching in December 2025. The platform has processed over 100 million contracts across more than 20,000 traders since launch. Meanwhile, traditional exchange revenue fell 27% to $17.2 million as trading volume declined to $6.3 billion from $13.5 billion in Q1 2025.
"Today marks a major milestone in Gemini's marketplace expansion," said Gemini President Cameron Winklevoss, in a statement. "In addition to our crypto spot marketplace, Gemini now has a full-stack, end-to-end marketplace for predictions as well as futures, options, and more."
Gemini said that the strategic investment from Winklevoss Capital Fund, the venture capital vehicle operated by the exchange's founders, was paid entirely in Bitcoin.
