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Robinhood Crypto Revenue Falls Nearly 40% Despite Record Quarter

Crypto was one of Robinhood’s few weak spots last quarter, with revenue down nearly 40% as prediction markets and stock trading surged.

Robinhood’s crypto revenue fell 38% year over year to $100 million in Q2, making crypto one of the few weak spots in an otherwise record quarter, according to the company’s latest earnings report.

The figure implies Robinhood generated roughly $161 million from crypto during the same quarter last year. By comparison, its total revenue increased 32% to a record $1.3 billion, while transaction-based revenue rose 44% to $776 million.

Crypto also brought in less revenue than Robinhood’s rapidly growing prediction market business, which generated $156 million, more than 10 times last year’s figure, compared with $342 million from options and $129 million from stock trading. Read also: What Is APES Crypto?

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