Gemini **Q1 Revenue Surges Beyond Expectations, Stock Price Soars in After-Hours Trading**

BlockBeats News, May 15th, cryptocurrency exchange Gemini released its first-quarter financial report, with revenue reaching $50.3 million, a 42% increase from the same period last year's $35.3 million, driving its stock price to surge 30% in after-hours trading.

The company stated that the growth mainly came from its custody business, OTC trading, and Gemini Credit Card, and other cryptocurrency-related credit card services. The credit card sector's revenue increased by about 300% year-on-year, approaching half of the total revenue.

Gemini also disclosed its forecast market business data for the first time. Since its launch in December last year, the business has attracted over 20,000 users to trade contracts, with a total contract volume exceeding 100 million and contributing approximately $400,000 in revenue. The company stated that the trading volume in April further increased by 78% compared to the previous month.

Gemini CEO Tyler Winklevoss indicated that the company is gradually transitioning from a cryptocurrency exchange platform to a more comprehensive "market company." Previously, Gemini has obtained a CFTC Derivatives Clearing Organization (DCO) license to support its expansion into derivatives and forecast market business.