Cryptocurrency exchange Gemini reported Q1 2026 revenue of $50.3 million, up 42% year-over-year, and secured a $100 million strategic investment from Winklevoss Capital Fund, paid entirely in Bitcoin at $14 per share. Shares of Gemini (GEMI) surged over 16% in pre-market trading to $6.11, after closing at $5.26 on Friday, though they remain down 51% over the past six months.
Gemini's revenue growth was driven by a shift beyond traditional crypto trading. Services revenue and interest income jumped 122% to $24.5 million, now accounting for 49% of total revenue. Credit card revenue nearly quadrupled to $14.7 million. Meanwhile, traditional exchange revenue fell 27% to $17.2 million as trading volume declined to $6.3 billion.
In addition to financial milestones, Gemini's regulatory wins accelerated. Its Olympus subsidiary obtained a Derivatives Clearing Organization license from the CFTC on April 30, complementing its December designation as a Designated Contract Market. This positions Gemini among a select group of crypto platforms with full-stack derivatives infrastructure. The company's new prediction markets business generated $0.4 million in its first full quarter, processing over 100 million contracts.