Gemini posts $108M Q2 net loss despite 37% revenue growth

Credit card and staking revenue drove Gemini’s services growth in Q2 as exchange revenue fell 38% and trading volume dropped by two-thirds. Cryptocurrency exchange Gemini reported a 37% year-over-year increase in second-quarter revenue to $45.5 million, while posting a $107.7 million net loss as exchange trading weakened. Exchange revenue fell 38% to $12.5 million as…

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Neutrl pauses NUSD redemptions over undisclosed reserve issue

BA Labs had previously classified a proposed NUSD integration as higher risk because of its counterparty, operational and liquidity exposure. Decentralized finance (DeFi) protocol Neutrl has suspended minting and redemptions for its NUSD synthetic dollar after unspecified circumstances affected protocol reserves, leaving the cause and scale of any potential impairment unclear.  On Thursday, Neutrl said…

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