We sat down with Patrick Liou from Gemini Crypto at Bitcoin Conference 2025 in Las Vegas to discuss key takeaways from Gemini’s State of Crypto report, the exchange’s major crypto credit card push, and why institutional and retail adoption may be set to accelerate again.

From the narrowing gender gap in crypto to the impact of Trump-era policies, here’s what Gemini sees shaping the next phase of the digital asset industry.

Alright, Patrick, something’s off. The energy is much more pro-builder and less ‘get rich quick.’ What’s going on under the surface?

“The energy’s more optimistic. Prices help, but there’s also a more grounded tone with people who are still building, but without the irrational exuberance of past cycles.

Gemini came in strong this year with a bold product push: a Bitcoin credit card. It’s bright orange, hard to miss, and offers crypto rewards instead of points or miles.

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There’s also a big sweepstakes component, including two upgraded Cybertrucks and free BTC for heavy spenders. So while this is still a building year, Gemini’s clearly looking to re-engage everyday users.”

Sounds fun! But what separates this card from earlier ones like Crypto.com’s cool metal ones?

“Unlike platforms that pushed their own token, Gemini lets users earn rewards in real assets like BTC, ETH, Solana, you name it. That flexibility, plus the ability to switch assets on the fly, gives people more control.

And instead of speculative token rewards, it leans into long-term accumulation.”

One finding in your State of Crypto report is the narrowing gender gap. What’s driving that shift?

“Crypto is still male-dominated, but the gap is closing. Gemini’s report shows growing comfort among women investors.”

Patrick pointed to broader industry efforts to demystify crypto and bring it into the mainstream. He stressed that digital assets shouldn’t be a partisan issue.

It might sound noble, if not for the Bitcoin booths drowning in Trump swag and the unmistakable whiff of campaign trail energy in the air.

What impact has the Trump administration had so far?

“The contrast with the last administration is stark. The previous approach was defined by lawsuits and regulatory uncertainty. Now, there’s at least a willingness to define rules.

Bills like the Genius Act and new legislation from Sen. Lummis are positive signals.”

What’s next for Gemini?

“The goal is simple: onboard the next million users. That means more than just trading. Gemini offers OTC services, custody, staking, and more, all aimed at helping people enter the crypto ecosystem safely and confidently.

It’s still early days, and Gemini wants to be the front door.”

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Isaiah Mccall
Isaiah Mccall
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Isaiah McCall is an ultramarathon runner and journalist for 99Bitcoins. He started at USAToday in 2019 and now has a Medium blog following of 30k+ and millions of views. Follow him at @AfroReporter Read More

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