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XLM $0.1544 -5.80%
ZEC $515.84 -5.60%
BTC $79,114.59 -2.75%
ETH $2,222.08 -3.15%
BNB $673.49 -0.96%
XRP $1.44 -4.15%
SOL $89.32 -3.59%
TRX $0.3515 -0.73%
DOGE $0.1130 -2.28%
ADA $0.2609 -4.20%
BCH $425.46 -2.73%
LINK $10.05 -4.91%
HYPE $44.19 +0.71%
AAVE $92.67 -7.08%
SUI $1.09 -8.56%
XLM $0.1544 -5.80%
ZEC $515.84 -5.60%

increase

After receiving $100 million in funding, Gemini's pre-market increase exceeded 25%, but it still reported a loss of $109 million in Q1

According to CoinDesk, after the cryptocurrency trading platform Gemini, founded by the Winklevoss brothers, announced its Q1 2026 financial report, its stock price rose over 25% in pre-market trading. The financial report showed that the company's revenue for the quarter increased by 42% year-on-year to $50.3 million, while the net loss narrowed by 27% year-on-year to $109 million, but still exceeded market expectations of a loss of $0.61 per share.The report indicated that Gemini's operating expenses increased by 73% year-on-year to $144.5 million, with employee compensation costs rising by 91%, which included approximately $6.5 million in severance pay; sales and marketing expenses also doubled year-on-year to $19.1 million.The company stated that it is currently driving its business transformation through layoffs, business contraction, and a $100 million Bitcoin injection from Winklevoss Capital Fund, and is seeking to achieve profitability.In February of this year, Gemini closed its operations in the UK, EU, and Australia, laying off about 25% of its staff, and shifted its focus to the U.S. market and prediction market business. In April, the company received approval from the U.S. Commodity Futures Trading Commission for its Derivatives Clearing Organization (DCO) license, officially entering the cryptocurrency prediction market field. Boosted by these developments, the company's stock price has recently rebounded and is now above $6.6.

Forward Industries' revenue increased by 319% year-on-year, but the impairment of SOL holdings dragged down performance, resulting in an expanded quarterly loss

Forward Industries, a Solana treasury company, announced its quarterly financial report for the period ending March 31, 2026, showing a year-on-year revenue increase of 319% to $13 million. However, due to the decline in the fair value of crypto assets, net losses widened to $283.1 million.The company stated that the growth this quarter was mainly driven by increased staking rewards from Solana (SOL). However, during the same period, it recorded a digital asset loss of $201.7 million and an asset impairment of $85.1 million, primarily due to the price volatility of SOL leading to a decrease in the valuation of holdings.The financial report indicated that the company held approximately 7.04 million SOL during the quarter and earned about 201,200 SOL in rewards through staking, with nearly all SOL assets being staked. Solana fell approximately 33.7% during the reporting period, closing at $82.44. Price volatility is considered the core factor dragging down financial performance.Additionally, Forward Industries signed a loan agreement with Galaxy Digital in March and drew the first tranche of $40 million in financing, using fwdSOL as collateral, with a comprehensive annual interest rate of about 3.4%. The company stated that this financing is used to optimize its liquidity structure.Company management indicated that they have adjusted the balance sheet through cost reductions, debt instruments, and stock buybacks to cope with market volatility and enhance long-term value. Despite a significant widening of quarterly losses, the company's stock price slightly declined in after-hours trading following the financial report, but it still recorded a monthly increase recently.
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