Gemini's revenue increased by 42% in the first quarter, and its stock price surged by 30% after hours Odaily Planet Daily News: Crypto exchange Gemini released its first quarter financial report, with revenue reaching $50.3 million, a 42% increase from $35.3 million in the same period last year, driving its stock price up 30% in after hours trading. The company stated that the growth mainly comes from its service business, OTC trading, and cryptocurrency related credit card businesses such as Gemini Credit Card. The revenue of the credit card sector increased by about 300% year-on-year, approaching half of the total revenue. Gemini also disclosed its forecast market business data for the first time. Since its launch in December last year, the business has attracted over 20000 users to trade contracts, with a total of over 100 million contracts traded and contributing approximately $400000 in revenue. The company stated that the trading volume in April increased by 78% compared to the previous month. Gemini CEO Tyler Winklevoss stated that the company is gradually transitioning from a cryptocurrency trading platform to a broader 'marketplace company'. Previously, Gemini had obtained a CFTC derivative clearing agency license to support its expansion into derivative and forecasting markets.