Oct 28 (Reuters) – Robinhood’s shares fell 8% in premarket trading on Wednesday after a prolonged chill in crypto markets dragged the trading platform’s third-quarter profit below Wall Street expectations.
Crypto markets have been under pressure this year due to shifting expectations for US interest rates, outflows from bitcoin exchange-traded funds and bouts of risk aversion that have unsettled investors and sparked waves of selling.
Here are more details:
• Robinhood’s cryptocurrencies revenue fell 55% in the third quarter to $120 million
• Rising oil prices and geopolitical tensions have added to market jitters, while heightened volatility has prompted retail…
