Cryptocurrency exchange Gemini's third-quarter trading volume fell 73 percent from a year earlier, and revenue also declined, The Block reported on Wednesday.
Losses narrowed on cost cuts.
Gemini posted third-quarter revenue of $40.9 million, the report said. That was down 19 percent from $50.6 million a year earlier and down 10 percent from the second quarter. Net loss was $58.6 million, down from about $160 million a year earlier and $107.7 million in the second quarter. Operating expenses were about $120 million, down 30 percent from a year earlier.
Gemini shares rose 6.5 percent in after-hours trading to $2.79. The stock has fallen about 75 percent so far this year.
Gemini CEO Tyler Winklevoss (타일러 윙클보스) said operating expenses fell for a third straight quarter. He said the company would strictly manage where it spends money while investing in growth.
Chi-gyu Hwang
delight@d-today.co.kr