PANews November 11th reported that according to The Block, cryptocurrency exchange Gemini announced its first quarterly financial report since its September listing. Driven by a rebound in trading and expanded revenue from new products, its revenue increased by 52% quarter-over-quarter. In the third quarter, net income rose to nearly $50 million, supported by over $26 million in trading fees and approximately $20 million in service income (including record-breaking credit card performance and expanded institutional staking business). However, the company still recorded a net loss of $159.5 million, mainly due to IPO-related stock compensation and marketing expenses. Adjusted EBITDA was negative $52.4 million. Trading volume reached $16.4 billion, up 45% quarter-over-quarter, with institutional trading increasing nearly 50%. Gemini credit card accounts exceeded 100,000, with spending surpassing $350 million, doubling quarter-over-quarter, and staking balances reaching $741 million. Currently, service income accounts for nearly 40% of total revenue, whereas a year ago