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Gemini Surges Over 25% Premarket After Q1 Earnings and $100M Bitcoin Investment

GateNews
StocksPrice Volatility
BTC-3.29%
According to CoinDesk, Gemini reported first-quarter results and surged over 25% in premarket trading following a $100 million Bitcoin investment from Winklevoss Capital Fund. The cryptocurrency exchange posted Q1 revenue of $50.3 million, up 42% year-over-year, but recorded a net loss of $109 million—narrower than the prior year's loss yet exceeding market expectations of $0.61 loss per share. Operating expenses jumped 73% to $144.5 million. The company is pursuing profitability through staff reductions, business restructuring, and the strategic capital injection.
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