Robinhood posts record quarter, but crypto revenue slides 38%
CoinTelegraph·
60-second summary
Robinhood reports a record quarter, driven by its expanding brokerage services, but cryptocurrency revenue takes a significant hit, sliding 38% due to decreased transaction volumes and volatile market conditions. This decline in crypto revenue contrasts with the company's overall growth, highlighting the evolving nature of the digital asset market and its impact on traditional brokerage services.
The online brokerage continued expanding its digital asset business with Robinhood Chain, tokenized stocks and decentralized lending even as cryptocurrency transaction revenue declined.