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A net loss, which is the amount by which a company's total expenses exceeded its total revenue in a given period, hit $108 million at crypto exchange Gemini in the second quarter.
Revenue grew 37% over the year-earlier period. They say different things about the same business.
Where Gemini's revenue actually came from Gemini's services segment grew in the quarter, driven by credit card revenue and staking income.
Staking refers to the practice of locking up cryptocurrency to help a blockchain network validate and record transactions. In return, the holder earns periodic rewards.
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