Trading Volume Drops 73% YoY as Gemini's Q3 Revenue Falls to $40.9 Million

According to the financial report released by Gemini (GEMI), the company's total revenue for the third quarter was $40.9 million, down 19% year-over-year; platform trading volume fell from $16.4 billion in the same period last year to $4.5 billion, and exchange revenue dropped 47% year-over-year to $13.4 million. Net loss for the quarter narrowed 63% year-over-year to $58.6 million, and total operating expenses decreased 30% year-over-year to $119.9 million. Service revenue and interest income combined totaled $23.3 million, accounting for 59% of net revenue. (Globenewswire)