Episode Details

Gemini, the crypto exchange founded by the Winklevoss twins, reported a net loss of $109 million in Q1 2026, marking a significant improvement from the previous quarters loss of $283 million. Despite the loss, revenue surged 42% to $50.3 million, driven by increased marketing and operating costs. The companys losses have been mounting since last year, but investors remain optimistic due to Geminis efforts to streamline operations. Gemini cut 25% of its workforce and exited the U.K., EU, and Australia markets to focus on U.S. and prediction markets. The company also secured CFTC approval for a derivatives clearinghouse license, opening new revenue streams. The Winklevoss twins injected $100 million in bitcoin to fund operations and growth.

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