Robinhood’s crypto revenue falls 36% as online brokerage misses historic rally – DL News
- Robinhood reported $160 million in crypto trading revenue.
- Crypto trading accounted for only 16% of the company’s net revenue last quarter.
- Vlad Tenev called tokenisation the industry’s biggest innovation.
Bucking the momentum in the crypto industry, Robinhood’s digital assets trading revenue dropped 36% in the second quarter, the online brokerage said Wednesday.
The fintech company reported $160 million in crypto revenue, a significant drop from the $252 million recorded in the previous quarter.
The performance was a blemish on an otherwise a strong second quarter for the fintech company, with its net revenue rising 6.5%, to $989 million.
Robinhood’s crypto results appeared to stem from the market’s struggles in the early part of…
