The $81 million Robinhood made in crypto revenue was more than double made from equities in Q2.
Online brokerage platform Robinhood’s crypto transaction-based revenues increased 161% year-on-year to $81 million in the second quarter amid a rise in trading volume.
The $21.5 billion in trading volume was a 137% increase from Q2, 2023, but a 40% fall from the Q1, 2024, the trading firm revealed in its Q2 financial statement on Aug. 7.
Robinhood attributed this to a downward swing in monthly active users in Q2 as crypto prices fell.
