Gemini credit card revenue surged nearly 300% to $14.7 million in Q1, attributed to significant growth in its user base. Crypto company Gemini reported a 42% year-on-year increase in revenue in Q1 2026 as it continued its growth from a pure crypto exchange into a financial services company. Total revenue for the Winklevoss twins' company grew 42% year-on-year to $50.3 million in the first quarter, while transaction revenue remained stable at $24 million, the company reported Thursday. However, its crypto exchange revenue decreased 27% year-on-year to $17.2 million, “reflecting lower spot trading activity and a moderation in crypto market volumes,” while total trading volume declined to $6.3 billion from $13.5 billion in Q1 2025. Read more
Dune co-founder and CEO Fredrik Haga says the company’s staff cuts come as it shifts focus and is “all-in” on AI and institutional interest in crypto. Crypto data company Dune said it is laying off 25% of its workforce, citing a need to restructure its business to focus on its core products. “We’re restructuring Dune to sharpen our focus around the core data products thousands of customers across the crypto industry rely on,” Dune co-founder and CEO Fredrik Haga posted to X on Thursday. “That unfortunately means we’ve let 25% of the team go this week.” Haga did not share the number of staff who were laid off. The company’s LinkedIn shows about 150 employees. Haga said the company remained “well capitalized” and that Dune was “all-in” on artificial intelligence and growing institutional interest in crypto. Read more