Robinhood Crypto Revenue Drops 55%, Still Beats Forecasts
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Robinhood's crypto revenue fell 55% year over year but exceeded Wall Street forecasts, while its broader blockchain business gained traction.
Robinhood reported a 55% year-over-year decline in revenue from cryptocurrency trading, though the result came in above Wall Street expectations, according to CoinDesk.
Crypto trading volume was also lower, falling 38% from a year earlier. The revenue decline was steeper than the drop in trading activity.
Despite the weaker trading figures, Robinhood's broader blockchain business gained traction, showing a mixed picture for its crypto-related operations.
Source: CoinDesk
