Robinhood’s 30% Crypto Revenue Plunge: Vlad Tenev Looking To Diversify, Wants Platform ‘Less Reliant’ On Transaction Volumes
Posted On May 1, 2025
Robinhood Markets Inc. (NASDAQ:HOOD) reported a marked decline in its cryptocurrency revenue in the first quarter as compressed prices hampered trading activity.
What happened: The commission-free trading platform released its quarterly financials after Wednesday’s market close and disclosed a cryptocurrency notional trading volume of $252 million, up 100% year-over-year but down 30% from the previous record quarter.
The cryptocurrency revenue was over 43% of Robinhood’s total transaction-based revenue for the quarter.
The firm also revealed a cryptocurrency notional trading of $46 billion, up 28% from the same quarter last year but down 35% from the fourth quarter of 2024.
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