Robinhood Chain Couldn’t Save Crypto: Why Robinhood’s Crypto Revenue Plunged 38%
Robinhood Chain arrived with an ambitious promise: connect traditional finance, tokenized assets, decentralized lending, and crypto trading inside one financial network. Yet Robinhood’s crypto revenue fell 38% year-over-year in Q2 2026, dropping from $160 million to $100 million.
The apparent contradiction is less surprising than it looks. Robinhood Chain launched on July 1, one day after the quarter ended. It had no opportunity to improve the reported Q2 results.
More importantly, launching a blockchain does not automatically convince brokerage customers to trade Bitcoin, Ethereum, or altcoins. Robinhood’s broader business performed extremely well.
Total revenue reached a record $1.31 billion, while equities, options, and prediction markets generated strong growth. Crypto was the exception.
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