# Cryptocurrency firms report Q2 2026 losses

> Live situation record from CLSTR: https://clstr.news/situations/cryptocurrency-firms-report-q2-2026-losses
> Updated: 2026-08-14T02:58:28.000Z. Sources: 16. Developments: 2.

During the second quarter of 2026, major cryptocurrency-related firms reported significant net losses amid a contracting market. Galaxy Digital reported an $85 million loss, noting that declining cryptocurrency valuations reduced the value of its digital-asset holdings. The firm saw revenue fall 15% to $8.7 billion, down from $10.2 billion in the first quarter and below the $12.7 billion consensus estimate. Despite this, Galaxy Digital saw improved operating profitability, with adjusted EBITDA reaching $11 million. This was supported by AI data-center activity through a partnership with CoreWeave, which contributed $20 million in adjusted gross profit.

Similarly, Gemini reported a net loss of $107.7 million for the same period, marking its fourth consecutive quarterly loss since its Nasdaq listing. While Gemini experienced a 37% year-over-year increase in total revenue to $45.5 million, its exchange revenue fell 38% to $12.5 million due to a 66% drop in spot trading volume. The company saw growth in services revenue, which surged 149% to $23.5 million, driven largely by a 231% increase in credit card revenue and a 50% rise in staking revenue. However, results were impacted by a $16.1 million provision for credit card fraud and transaction losses. CEO Tyler Winklevoss noted that the results reflect efforts to reduce operating expenses while diversifying revenue streams.

## Timeline

### 2026-08-14: Gemini reports $107.7M Q2 loss despite 37% revenue growth

Gemini reported $45.5 million in Q2 revenue, up 37% year-over-year, but posted a $107.7 million net loss as exchange trading declined and services like credit cards grew.

14 sources. https://clstr.news/cluster/gemini-space-station-shares-fall-as-crypto-trading-volumes-decline

### 2026-08-05: Galaxy Digital posts $85 million Q2 loss as crypto market contracts

Galaxy Digital posted a $85 million Q2 2026 net loss, revenue fell 15% to $8.7 billion, while adjusted gross profit rose 34% and AI data‑center work added $20 million.

2 sources. https://clstr.news/cluster/galaxy-digital-posts-85-million-q2-loss-as-crypto-market-contracts

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Cite as: Cryptocurrency firms report Q2 2026 losses. CLSTR, https://clstr.news/situations/cryptocurrency-firms-report-q2-2026-losses