Gemini Q1 revenue rises 42% to $50.3M

Cryptocurrency exchange Gemini's first-quarter revenue rose 42% year-over-year to $50.3 million, Cointelegraph reported. The increase was attributed to the rapid expansion of its credit card-focused financial services division. While revenue from trading fees remained stable at $24 million, the exchange division's revenue fell 27% year-over-year to $17.2 million. The company explained that this was a result of decreased spot trading activity and a slowdown in overall market volume.