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Gemini shares fell to an all-time low after reporting a loss of $159.5 million in the third quarter, even as Cameron Winklevoss revealed a win for the company.We aim to build a “super app” for cryptocurrencies.
According to the company’s first financial report since going public in September, third-quarter sales more than doubled from the same period last year to $50.6 million, but large listing-related expenses wiped out those gains.
As a result, Gemini posted a net loss of $159.5 million, up from $90.1 million in the year-ago period. The move sent the company’s stock price down nearly 10% in premarket trading, extending its decline by 47% since it went public on the Nasdaq.
Highlights from the third quarter are here.
The third quarter of 2025 was our first quarter as a publicly traded company.
This quarter marked great strides in expanding our ecosystem, expanding our reach, and advancing a mission that began more than a decade ago. pic.twitter.com/Vf1tjia0s3
— Gemini (@Gemini) November 10, 2025
Gemini to develop cryptocurrency “super app”
The decline in Gemini’s stock price and profits came after the company announced plans to create a cryptocurrency “super app.”
“We’re really excited about building towards a super app,” president and co-founder Winklevoss said, adding that Gemini aims to allow users to hold tokenized dollars, stocks and digital goods “all within one app.”
“Our view is that the market is all on-chain,” he said. “Soon, you will be able to hold tokenized dollars via stablecoins, tokenized stocks, and digital instruments, all within one app.”
Winklevoss said Gemini plans to develop its own products rather than using solutions developed by third parties. He also said the exchange is “very excited” to add prediction markets to its platform.
Other tech companies are also moving to the Create Everything app
Gemini will be able to generate more revenue from fees by creating a single platform that provides a variety of services to the crypto retail and institutional markets. However, it is likely to face stiff competition from rivals.
One of them is Coinbase, which is also a major US cryptocurrency exchange. Coinbase, led by CEO Brian Armstrong, recently rebranded its product as Base App, which also describes itself as an “all apps.”
Coinbase also has its own layer 2 network called Base. It has become a popular network for token and decentralized app developers.
According to DefiLlama data, Base is ranked as one of the top chains by Total Value Locked (TVL). According to For the DeFi aggregator, the network’s TVL is over $4.9 billion.
Top 10 Chains by TVL (Source: Defilama)
Its TVL ranks as the sixth-largest chain overall, ahead of blockchains such as Avalanche, Polygon, and Hyperliquid.
Meanwhile, social media platform X has also indicated its intention to create an app for all. Although not necessarily a crypto-native platform or company, there is speculation that X may add crypto payment options.
X also recently announced that Polymarket will become its official prediction market partner.
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