{"id":47930,"date":"2021-08-19T11:04:22","date_gmt":"2021-08-19T08:04:22","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47930"},"modified":"2025-09-01T23:46:28","modified_gmt":"2025-09-01T20:46:28","slug":"crypto-trading-accounted-for-more-than-40-of-robinhoods-revenue-in-the-second-quarter","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/crypto-trading-accounted-for-more-than-40-of-robinhoods-revenue-in-the-second-quarter\/","title":{"rendered":"Crypto trading accounted for more than 40% of Robinhood\u2019s revenue in the second quarter"},"content":{"rendered":"

The online broker Robinhood for April\u2013Junegenerated<\/a> revenue of $565 million, up 8.2% from January\u2013March. The share of digital-asset trading in the figure rose from 17% ($88 million)<\/a> to 41% ($233 million).<\/p>\n

Sixty percent of the 22.5 million clients with non-zero account balances in the second quarter traded cryptocurrencies. Sixty-two percent of the digital-asset\u2013related revenue came from trading Dogecoin (34% in January\u2013March).<\/p>\n

This is the first quarterly report in which stock and options trading ceased to be the main driver of the business.<\/p>\n

\"\u041a\u0440\u0438\u043f\u0442\u043e\u0442\u043e\u0440\u0433\u043e\u0432\u043b\u044f
Data: Robinhood.<\/figcaption><\/figure>\n
\n

\u00abIf trading activity or the price of Dogecoin falls, this could affect financial results\u00bb<\/em>, the company noted.<\/p>\n<\/blockquote>\n

The platform supports seven digital assets \u2014 Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic and Litecoin.\u00a0<\/p>\n

Founder Vlad Tenev noted the crypto activity of clients together with access to a IPO<\/span> as among the factors that affected the financial results. In July he named<\/a> digital assets the cornerstone of the company\u2019s future development.<\/p>\n

Robinhood is working<\/a> on implementing crypto-wallet\u2013related features, as well as launching new products, including lending and savings accounts in digital assets. In addition, Bloomberg discovered<\/a> testing of a feature to shield crypto investors from volatility.<\/p>\n

Robinhood\u2019s net loss in the second quarter was $502 million, versus $1.45 billion in January\u2013March. The negative result was due to adverse revaluations of the company\u2019s notes and warrants.<\/p>\n

Client assets on the companies\u2019 balance sheets rose from $81 billion to $102 billion in the second quarter. The app\u2019s monthly active user base grew from 17.7 million to 21.3 million.<\/p>\n

In the forecast for the third quarter, Robinhood managers flagged a possible decline in trading activity due to seasonal factors. A similar warning was also included<\/a> in the revised S-1 filing for the IPO.<\/p>\n

Earlier this year, Robinhood\u2019s stock-market debut proved one of the worst in history. On the fifth day of trading, the company\u2019s shares jumped 80%. Nasdaq halted trading three times.<\/p>\n

Subscribe to ForkLog\u2019s news on Facebook<\/a>! <\/p>\n","protected":false},"excerpt":{"rendered":"

The online broker Robinhood for April\u2013June generated revenue of $565 million, up 8.2% from January\u2013March. The share of digital-asset trading in the figure rose from 17% ($88 million) to 41% ($233 million).<\/p>\n","protected":false},"author":1,"featured_media":47931,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,1234,1211],"class_list":["post-47930","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-robinhood","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47930","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=47930"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47930\/revisions"}],"predecessor-version":[{"id":47932,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/47930\/revisions\/47932"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/47931"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=47930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=47930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=47930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}