Gemini Suffers Fourth Consecutive Quarterly Net Loss Amid Crypto Market Volatility

Gemini's financial performance shows no signs of improvement as it posts yet another quarterly net loss. The crypto exchange lost $107.7 million in the second quarter, despite a 37% increase in revenue to $45.5 million.

The company has been trying to diversify its revenue streams and has recently expanded into prediction markets and stock trading. One of Gemini's newer businesses generated about $500,000 during the period.

Gemini also reduced spending from the previous quarter, with total operating expenses falling 15% sequentially to $122.4 million.