Gemini Q3 Loss Hits $159M as Exchange Bets on “Super App”

Gemini’s shares dropped to a record low of $15.80 after the exchange reported a $159 million net loss for the third quarter. The results show that even well-known crypto platforms can struggle when the market slows. As reported by Cointelegraph, the Gemini Q3 loss also surprised many investors. Revenue did not grow fast enough to cover the growing costs. 

⚡️ LATEST: Gemini shares hit record low at $15.80 after Q3 results showed $159M net loss.

The exchange is betting big on becoming a "super app" to turn things around. Will it work? pic.twitter.com/4hwMHB06PE

— Cointelegraph (@Cointelegraph) November 11, 2025

Why the Gemini Loss Happened

The crypto market has cooled down after previous booms. Competition among exchanges is fierce. Gemini is not alone in facing these challenges. Analysts say that when market activity drops, income from trading slows, but operational costs remain high. This combination is what caused Gemini’s huge quarterly loss.

Even though Gemini has been a popular name in crypto, the results show that big names are not immune to market swings. The exchange needs new strategies to stabilize its business.

The “Super App” Plan

To turn things around, Gemini is betting on a bold strategy. The company wants to become a “super app.” This means offering more than trading. Gemini plans to add features like wallets, payments, savings accounts, rewards and other services.

The idea is to make the platform a one-stop shop for crypto users. This could bring in new revenue and keep the users engaged but it also comes with some risks. Building new services costs a lot of money and takes time. Gemini will also compete with traditional fintech apps and not just crypto platforms.

What It Means for Users and Investors

For investors, the loss is a warning that crypto platforms can face some serious challenges. At the same time, the super app plan shows that companies are looking for new ways to grow beyond trading fees.

For users, the plan could mean more convenient services. But it also raises questions about reliability and safety, like will the new features work smoothly or can Gemini protect user data properly?

Gemini’s Next Steps

Gemini’s Q3 loss and share price show the difficulties of running a crypto exchange in a slow market. The super app approach is ambitious. If it works, Gemini could create a more stable business and attract more users. If it fails, the company may have to step back and refocus on core trading services.

But for now, investors and users will watch closely. Gemini’s next steps could influence not only its future, but the broader trend of crypto companies trying to expand beyond trading.