Identified wallets only. Customer debts are not included.
Warning signs and trading health
Warning-sign score37.8/100Higher means more warning signs.
Health score43.5/100Higher means smoother trading.
Weak trading conditions; buy–sell gap 0.02%; 7-day trading change +30.4%
Trading data from 2026-09-08. Scores worked out on 2026-09-15. How much data we have: 69/100. These scores do not tell you the chance of failure, or whether the exchange can pay back its customers.
Gemini
How Gemini trades, how much money moves through its wallets, and what it publishes about itself.
Beyond the ten busiest pairs
See whether the quieter trading pairs still have orders behind their prices.
Other measured pairsOutside this venue’s ten busiest measured pairs36
Share of tradingTheir share of the measured 24-hour trading1.68%
Share of nearby ordersTheir share of orders within 2% on both sides13.12%
Typical support for sellingMiddle pair’s visible buy orders within 2% below price$9.92k
Typical support for buyingMiddle pair’s visible sell orders within 2% above price$8.01k
Typical price gapMiddle pair’s gap between the best buy and sell quote0.15%
Less than $10,000 on either side21 of 36 pairs have fewer nearby orders on at least one side58.33%
These are the covered pairs, not every listed coin. Less traded here does not mean a small market cap. Visible orders can change; they do not guarantee the price of a trade.
How much can this reading tell us?
Confidence in the evidence available for this page. It is not a safety rating or a chance of survival.
Data coverage · Tier 2 · 15 of 20 core questions have evidence (75%). This tier measures available information, not exchange health. Some evidence is partial or historical.
69/100
Evidence confidence
Evidence confidence
Where the evidence is strongest
Coverage is limited to 20 core questions. It does not cover every exchange risk, wallet behaviour or trading-quality check.
Money held, money moving.
Inflow minus outflow in the tracked wallet set.
Transfers can include custody changes as well as customer activity.
This window overlaps the seven-day reading; do not add them.
Over seven days, net transfers of $11.66m left the tracked wallets. That is 0.2% of the assets currently visible. This is movement in a labelled wallet set, not a count of customer withdrawals.
Net transfers outNet transfers in
24 hours
−$3.08m
7 days
−$11.66m
30 days
−$1.03m
These windows overlap. Their bars show direction and size; they should not be added together.
Trust center lists financial statements through December2025 and SOC1/SOC2 examination periods through September2025. Listing proves public disclosure references, not that the underlying reports were reviewed or that all liabilities are backed today. GUSD issuer reserves are a separate scope.
Company documents and useful links
These are company publications. A link establishes that material is published; it does not verify every claim in it.
Published reserve materialSecurityTrading feesTrading, and the orders waiting near the price
the price
$76.6m
$19.1m resting24.9% of a day's trading
Orders waiting near the price add up to $19.1m, equal to 24.9% of a day's trading.
Orange is a day's trading. Blue is the buy and sell orders waiting within 2% of the price, drawn to the same scale. We could read 98% of what Gemini reports, across its busiest 46 trading pairs.
How much it trades, and how many orders stand behind it
A day's trading, the orders waiting near the price, and how the two compare.
Across 46 trading pairs and 43 coins we could read.
Buy and sell orders together. Rank 66 of 122 among the exchanges we could read.
Rank 58 of 122. The typical exchange: 3.8x.
What this meansGemini does not show that problem: its price gap and its waiting orders tell the same story. Its average price gap is 0.015%, rank 11 of 122 from smallest. A small price gap does not mean many orders are waiting behind it.
All five trading checks together
This score combines five checks on how well the exchange trades. It knows nothing about what the exchange owes or holds for customers, so it is not a safety score.
Mixed market readings
The last seven days of trading against the seven days before, counted in bitcoin rather than dollars.
The last seven days of trading against the same seven days a month earlier, counted in bitcoin.
$6.3m, or 8% of the trading we could read.
Compared with exchanges its own size
Comparing a small exchange with Binance tells you little. These are the exchanges closest to it in daily trading ($65.2m to $78.5m), and how much each trades per $1 of waiting orders.
What this meansThe typical exchange of this size trades 0.4x per $1 of waiting orders. That is the fairer comparison.
What it leans on.
How much of its trading runs through one pair, whether its orders sit mostly on one side, and what is left without Bitcoin and Tether.
64% of its trading. Its top three pairs make up 82%.
0% means the orders are even on both sides. Higher means it is easier to buy than to sell, or the other way round.
of its trading is left, and 54% of its waiting orders.
In the news
Recent stories about Gemini. Use the numbers on this page to check them.
- Crypto exchange Gemini not at fault for collapse of Earn lending program, arbitrator saysCNBC · 31 Aug 2026
- Gemini Raises IPO Price Range, Targets $3 Billion ValuationYellow.com · 06 Sep 2026
- Gemini Space Station Hit By Multiple Securities Fraud Claims After IPOYellow.com · 06 Sep 2026
- Citi Slashes Gemini Stock To Sell - And Cuts Bitcoin Forecast TooYellow.com · 05 Sep 2026
What it publishes, and what we cannot tell you
Official financial statement and controls examination directory, Not established.
Trading pairs with stale or odd prices, left out of every number here.
Nothing here says what this exchange owes or holds for customers. Trading data cannot answer that.
More about Gemini
Company records, how it operates, and what we still do not know.
What supports this company view
Available evidenceTrading size, Depth, Price gap, Book balance, Largest pair, Bitcoin share, Market breadth, Pair coverage, Seven-day history, Thirty-day history, Tracked assets, One-day flow, Seven-day flow, Thirty-day flow, Direct reserve material15 of 20 questions
Customer balances and company debtsNot established here as a per-asset reserve ratioRead the scope
Questions still openDisclosure frequency, Customer balance scope, Dated per-asset reserve ratios, Measured withdrawal completion, Measured service interruptionsExcluded from conclusions
What could change the reading?A deeper book can disappear; transfers can be custody changes; a reserve report covers its stated date and scope. Repeated measurements and matched company reports strengthen the evidence.Follow the change