{"id":15939,"date":"2024-08-08T16:03:01","date_gmt":"2024-08-08T13:03:01","guid":{"rendered":"https:\/\/forklog.com\/en\/robinhoods-cryptocurrency-trading-revenue-soars-161-in-q2\/"},"modified":"2024-08-08T16:03:01","modified_gmt":"2024-08-08T13:03:01","slug":"robinhoods-cryptocurrency-trading-revenue-soars-161-in-q2","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhoods-cryptocurrency-trading-revenue-soars-161-in-q2\/","title":{"rendered":"Robinhood&#8217;s Cryptocurrency Trading Revenue Soars 161% in Q2"},"content":{"rendered":"<p>The online broker Robinhood reported <a href=\"https:\/\/investors.robinhood.com\/financials\/quarterly-results\/\">$81 million<\/a> in revenue from cryptocurrency trading for the April-June period. This figure marks a 161% increase compared to the second quarter of the previous year and is double the revenue generated from stock-related metrics ($40 million).<\/p>\n<p>The largest source of revenue for the company remained options trading, which brought in $182 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1144.webp\" alt=\"1-1144\" class=\"wp-image-238556\"\/><figcaption class=\"wp-element-caption\">Data: Robinhood.<\/figcaption><\/figure>\n<p>Compared to the same period last year, the turnover of digital assets on the platform increased by 137%, reaching $21.5 billion.<\/p>\n<p>Relative to January-March, the indicator fell by 40%. The broker attributed the decline to a decrease in the number of monthly active users due to worsening market conditions in the cryptocurrency sector.<\/p>\n<p>This resulted in a quarter-on-quarter reduction in the total number of transactions (by 27%) and the average volume of assets involved in operations (by 18%).<\/p>\n<p>The cryptocurrency-related <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> grew by 57% over the year, reaching $20.6 billion. This was due to a net inflow of client funds and a positive revaluation of digital assets.<\/p>\n<p>In July, Robinhood announced the acquisition of the investment and research AI platform Pluto Capital. The deal promises to offer more features utilizing artificial intelligence.<\/p>\n<p>A month earlier, the broker agreed to acquire the oldest European bitcoin exchange, Bitstamp, for $200 million.<\/p>\n<p>Previously, the company <a href=\"https:\/\/u1f987.com\/en\/news\/sec-warns-robinhood-of-potential-lawsuit\">received<\/a> a warning from the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> about a potential lawsuit over securities law violations in its cryptocurrency business.<\/p>\n<p>In January, Robinhood <a href=\"https:\/\/u1f987.com\/en\/news\/robinhood-expands-to-include-spot-bitcoin-etfs-in-the-us\">opened up<\/a> BTC-ETF trading for its clients in the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The online broker Robinhood reported $81 million in revenue from cryptocurrency trading for the April-June period. This figure marks a 161% increase compared to the second quarter of the previous year and is double the revenue generated from stock-related metrics ($40 million). The largest source of revenue for the company remained options trading, which brought [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,1252,1234],"class_list":["post-15939","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-reports","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=15939"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/15939\/revisions"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=15939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=15939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=15939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}