The American investment platform Robinhood released its financial results for the second quarter, revealing that crypto trading revenue plunged by 18% compared to the Q1 figures.
– Robinhood’s Q2 financial results show an 18% decrease in crypto trading revenue compared to Q1.
– The company delisted certain digital assets, including Solana, Cardano, and Polygon, which may have contributed to the decline.
– Despite the decline in crypto trading revenue, Robinhood reported solid overall profits in Q2.
– Currently, Robinhood supports 15 digital currencies, but Solana, Polygon, and Cardano were delisted following the SEC’s lawsuit against Coinbase.
– Robinhood’s CEO, Vlad Tenev, stated that the company will continue to invest in and provide digital asset services to customers.
Hot Take:
While Robinhood experienced a decline in crypto trading revenue in Q2, the company remains committed to providing digital asset services to its customers. Delisting certain digital assets may have impacted the revenue, but Robinhood’s CEO expressed confidence in the company’s future in the cryptocurrency sector.
By
By
By
By
By
By