Gemini said first-quarter 2026 revenue rose 42% year over year as Winklevoss Capital Fund made a $100 million Bitcoin-funded share purchase, lifting the stock more than 20% in after-hours trading.
Gemini (NASDAQ: GEMI) reported first-quarter 2026 revenue of $50.3 million, up 42% from a year earlier, while disclosing a $100 million strategic investment paid in Bitcoin by Winklevoss Capital Fund, the founders’ fund of Cameron and Tyler Winklevoss. The fund bought 7.1 million shares at $14 each, and the announcement helped send the stock from a $5.26 close to $6.33 in after-hours trading, a gain of more than 20%. The company said services and interest income rose 122% to $24.5 million, credit card revenue increased 300% to $14.7 million, and net loss narrowed to $109 million from $141 million in the first quarter of 2025. The update came after a difficult period marked by lower trading volumes, layoffs, market exits, executive departures, and shareholder lawsuits tied to the company’s September 2025 IPO. In April, Gemini also received a Derivatives Clearing Organization license from the CFTC, supporting potential expansion into futures and options.