Crypto winter has settled over the market, and Robinhood is feeling the chill.

Robinhood’s stock took a nosedive on Wednesday after reporting fourth-quarter revenue that fell short of Wall Street’s expectations, with crypto a particularly weak spot.

Earnings beat consensus estimates, but revenue came in below projections. The company noted that a 38% decline in crypto was a drag on transaction revenues. All other revenue categories recorded growth, with prediction markets revenues quintupling.

Robinhood stock fell as much as 13% on Wednesday, extending its nearly 34% decline since the start of 2026.

Bitcoin was down over 3% on Wednesday, struggling to reverse its 23% year-to-date decline.

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