Gemini Platform Assets Rise Nearly 60% as Credit Cards Lead Q3 Revenue

Gemini’s platform assets rose nearly 60% in the third quarter of 2026, while its credit card business generated the company’s largest reported revenue segment. Assets on the platform reached $13.4 billion, up from $8.4 billion in the second quarter. Credit card revenue totaled $15.5 million, down 4% sequentially. The figures add detail to Gemini’s third-quarter earnings.

Credit card revenue represented about 38% of Gemini’s $40.9 million in total third-quarter revenue. Total revenue fell 19% from a year earlier and 10% from the second quarter.

Exchange revenue was $13.4 million, down 47% year over year but up 7% from the second quarter as institutional revenue more than doubled. Spot volume reached $4.5 billion, an 18% increase from the prior quarter, but remained 73% below the $16.4 billion recorded a year earlier. Trading improved sequentially while staying well below year-ago levels.

Gemini reported a company-wide net loss of $58.6 million, compared with $159.5 million a year earlier and $107.7 million in the second quarter. Operating expenses fell 30% year over year to $119.9 million, accompanying the narrower loss.

Prediction-market revenue was about $800,000, up 52% from the second quarter and roughly 2% of total revenue. That business remained much smaller than the credit card and exchange segments in the quarter.