The crypto platform’s services revenue surged 122% year-over-year, offsetting a decline in trading volumes amid broader market weakness.
Gemini Space Station reported a 42% year-over-year increase in first-quarter revenue to $50.3 million, driven by expansion beyond crypto trading. The company’s services segment, including credit cards and OTC markets, grew 122% to $24.4 million, nearly half of total revenue.
Despite a sharp drop in crypto trading volumes compared to Q1 2025, Gemini’s diversification strategy helped sustain growth. The company narrowed losses and secured a $100 million investment from its founders, while also pursuing new regulatory licenses and product expansions.
Interim CFO Danijela Stojanovic highlighted the revenue growth as evidence of Gemini’s shift toward becoming a broader markets company, reducing reliance on crypto market cycles.