Gemini shares sink after reporting wider-than-expected loss in Q3: CNBC Crypto World

Market Trends & Crypto Performance - Major cryptocurrencies experienced declines, with Bitcoin dropping to $13,000, Ether falling by 1.04%, and Solana's SOL token decreasing by over 3% [2] - CleanSpark shares fell by 7.5% after the Bitcoin miner increased its convertible note offering to $1.15 billion [3][4] Company Performance & Initiatives - Gemini shares slumped after reporting a wider-than-expected loss of 6.67% per share in Q3, versus analysts' expectations of a $324 loss; IPO-related costs contributed to a $159.5 million net loss, despite revenue doubling year-over-year; shares plummeted more than 15.12% [4][5] - Coinbase is launching a platform for distributing new crypto tokens, aiming for balanced and transparent token sales, penalizing users who sell tokens less than 30 days after listing; Coinbase shares traded lower by more than 2% [6][7] - SoFi is debuting crypto trading on its platform, offering the ability to buy, sell, and hold cryptocurrencies like Bitcoin, Ethereum, and Solana, and plans to launch a stablecoin in January backed dollar for dollar by reserves [8][9][12] Market Outlook & Expert Opinions - Two Prime believes the four-year cycle is becoming less relevant due to changing market dynamics and institutional involvement, anticipating a strong end to the year and 2026 [16][17] - Geopolitical and economic instability, along with systemic risks in the digital asset industry, are potential concerns for 2026 [26][27] - Regulatory clarity, decreasing interest rates, and the proliferation of stablecoins are positive catalysts for the digital asset ecosystem in 2026 [31][32][33]