Robinhood’s crypto trading business had its weakest quarter in years. Its blockchain had its best month, because it was its only month. The brokerage reported record second-quarter revenue of
Robinhood’s crypto trading business had its weakest quarter in years. Its blockchain had its best month, because it was its only month.
The brokerage reported record second-quarter revenue of $1.31 billion on Wednesday, up 32% year over year and ahead of a $1.26 billion estimate, with net income of $573 million or $0.62 per share against $386 million and $0.42 a year earlier. Inside those numbers, crypto transaction revenue fell 38% to $100 million while Robinhood Chain, the company’s Ethereum layer-2 network for tokenized real-world assets, posted first-month figures that would be striking for an established chain.
