Gemini's Trading Volume Craters 66%, But Non-Crypto Revenue Soars

Gemini's trading volume plummeted by 66% in the second quarter, falling from $11.3 billion to $3.8 billion.

The decline was largely attributed to lower customer activity and declining digital asset prices, which put pressure on Gemini's traditional revenue base.

Despite this downturn, Gemini reported a surge in non-trading revenue, particularly from credit cards, staking, over-the-counter services, and other financial products. This revenue increase rose by 231% and reached $12.5 million, reducing the company's reliance on crypto trading.