Related Party Transactions |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Related Party Transactions Security Services In January 2026, the Company entered into a services agreement with Winklevoss Capital Management, LLC (“WCM”), a related party through common ownership, pursuant to which WCM provides executive protection, secure transportation and risk advisory services for our Chief Executive Officer, President, their family members, and, as appropriate, other individuals designated by Gemini from time to time. The agreement has an initial one-year term and renews automatically unless earlier terminated. Under the agreement, the Company pays WCM a fixed monthly rate of $400,000, plus reimbursement of certain other expenses. WCM has agreed to waive any fees, costs, or expenses that exceed $1,000,000 in the aggregate for the first year of this agreement. The Company incurred expenses of $0.4 million under this agreement during the three months ended March 31, 2026. These expenses were classified as General and administrative on the condensed consolidated statements of operations and comprehensive loss. There were no outstanding amounts related to WCM included in Accrued expenses as of March 31, 2026 on the condensed consolidated balance sheets. Computer services and storage facilities In 2017, the Company entered into an agreement with Elysian Networks, LLC (“Elysian”), a related party through common ownership, pursuant to which Elysian provided equipment leasing, cloud-based servers, data storage and computer processing services to the Company. The Company incurred expenses of $0 and $0.2 million under this agreement during the three months ended March 31, 2026 and 2025, respectively. These expenses were classified as Technology on the condensed consolidated statements of operations and comprehensive loss. Amounts outstanding of $0.1 million and $0 were included in Accrued expenses as of March 31, 2026 and December 31, 2025, respectively, on the condensed consolidated balance sheets. The agreement with Elysian was terminated in August 2025, and no further expenses have been incurred or payments made pursuant to the agreement thereafter. Related party revenue WCF, a related party through common ownership, accounted for $0.3 million and $0.6 million of the Company’s revenue during the three months ended March 31, 2026 and 2025, respectively. WCF accounted for $0.2 million and $0.1 million of the Company’s Accounts receivable, net, as of March 31, 2026 and December 31, 2025, respectively. Related party loans |