Gemini's Q1 2026 Earnings Call: Progress Towards Becoming a Markets Company

The Gemini first quarter 2026 earnings conference call highlighted significant progress towards the company's vision of becoming a markets company, building on its experience in the crypto space. During the call, co-founders Cameron and Tyler Winklevoss, as well as interim CFO Danijela Stojanovic, discussed key highlights from the quarter.

"We believe we have made meaningful progress towards our goal of building Gemini into a markets company," said Cameron Winklevoss, President and Co-founder. "This quarter, we grew revenue 42% and transaction revenue held steady year-over-year, even as trading volume declined more than 50% due to softness in the broader crypto market."

While the company acknowledges its share price is impacted by the decline in Bitcoin prices since its IPO, Cameron emphasized that Gemini has evolved significantly. "When we went public in September, we did not have a predictions marketplace," he said. "We do now. We were a crypto company. Today, we are building the foundation for so much more."

One key highlight from the quarter was the acquisition of a derivatives clearing organization (DCO) license from the CFTC, discussed by Tyler Winklevoss. This license allows Gemini to act as a clearinghouse for derivatives contracts, prediction market contracts, and other types of financial instruments.

"A DCO is critical in enabling us to fully own the customer experience and deliver a best-in-class predictions marketplace," said Tyler. "This license will help us bring our vision of building the super app for the markets economy to life."

As part of its strategic efforts, Gemini has made a significant investment of $100 million into itself via Winklevoss Capital at a price of $14 per share of Class A common stock. This move reflects the company's confidence in its future growth prospects.

Gemini's product and regulatory milestones achieved this quarter will help set the stage for success going forward, said Tyler. "This DCO license, combined with our experience building marketplaces, will enable us to fully own the customer experience and deliver a best-in-class predictions marketplace."

With these developments, Gemini is positioning itself as a major player in the broader markets economy, expanding beyond its crypto roots. The company believes that by offering more options to customers across multiple asset classes, it can build a business indexed to markets broadly, rather than just tied to a single cycle.
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