💰 Robinhood Hits Record $1.4 Billion Revenue Amid Crypto Recovery
Robinhood reported record net revenue of $1.4 billion for Q3, a 12% year-over-year increase. Despite the revenue milestone, net income fell 14% to $476 million, impacted by $67 million in unrealized losses from its venture fund.
Crypto transaction revenue rose to $120 million, up 20% from the previous quarter. Total crypto trading volume reached $50 billion, with Bitstamp contributing $29 billion while the main Robinhood app handled $21 billion in retail activity.
The Robinhood Chain saw massive adoption in its first mainnet quarter, generating over $80 billion in decentralized exchange (DEX) volume and $50 million in fees. The company now ranks the network as a top-five chain by revenue and volume.
#Robinhood #CryptoNews #Bitstamp #Blockchain
Robinhood reported record net revenue of $1.4 billion for Q3, a 12% year-over-year increase. Despite the revenue milestone, net income fell 14% to $476 million, impacted by $67 million in unrealized losses from its venture fund.
Crypto transaction revenue rose to $120 million, up 20% from the previous quarter. Total crypto trading volume reached $50 billion, with Bitstamp contributing $29 billion while the main Robinhood app handled $21 billion in retail activity.
The Robinhood Chain saw massive adoption in its first mainnet quarter, generating over $80 billion in decentralized exchange (DEX) volume and $50 million in fees. The company now ranks the network as a top-five chain by revenue and volume.
#Robinhood #CryptoNews #Bitstamp #Blockchain