Core Insights - Gemini Space Station Inc. reported a larger-than-expected loss in its first earnings report since going public, with Q3 revenue of $50.6 million exceeding analyst expectations of $46.2 million, but a loss per share of $6.67 compared to the expected $3.24 [1] - Following the earnings release, Gemini's stock price fell over 12% in after-hours trading and was down 7% at the time of reporting, attributed to increased expenses from IPO costs and marketing efforts [1] - The company aims to develop a "super app" that offers services beyond cryptocurrency trading, including plans to launch a regulated prediction market for betting on sports and political events [1][2] Financial Performance - Gemini's revenue doubled year-over-year, with approximately half of its income coming from cryptocurrency trading fees, alongside earnings from credit card projects and crypto staking [2] - Despite the growth, Gemini's revenue is only about 2% of its main competitor Coinbase's recent quarterly revenue, although its growth rate outpaces Coinbase's 55% year-over-year increase [2] - Analysts predict that Gemini may not achieve adjusted profitability until 2028, as its expense growth currently exceeds revenue growth [2] Strategic Developments - The company has begun offering blockchain tokenized U.S. stock trading services and is expanding its credit card business, which has become a significant driver for new user growth [3] - The Winklevoss brothers have increased their political engagement, supporting Donald Trump and donating $21 million to a political action committee that backs the Republican agenda on cryptocurrency [3]