{"id":73835,"date":"2023-02-09T14:04:50","date_gmt":"2023-02-09T12:04:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=73835"},"modified":"2025-09-09T16:34:36","modified_gmt":"2025-09-09T13:34:36","slug":"robinhoods-cryptocurrency-revenue-fell-24-to-39-million","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhoods-cryptocurrency-revenue-fell-24-to-39-million\/","title":{"rendered":"Robinhood’s cryptocurrency revenue fell 24% to $39 million"},"content":{"rendered":"

In the fourth quarter of 2022, the online broker Robinhood’s revenue from cryptocurrency-related activities fell 24%, to $39 million. The company said so in the report<\/a>.<\/p>\n

Only in the fourth quarter of 2020 did the firm earn less from cryptocurrency transactions ($12 million). Since then, the figure has fluctuated from $48 million to $233 million.<\/p>\n

\n
\"image-106\"
Trend of Robinhood’s revenue from stock, options, and cryptocurrencies (marked in dark green). Data: Robinhood<\/a>.<\/figcaption><\/figure>\n<\/div>\n

Total quarterly revenue from operations fell 11%, to $186 million \u2014 the lowest in the last two years.<\/p>\n

Aggregate revenue rose 5%, to $380 million, helped by a 30% increase in net interest income to $167 million.<\/p>\n

Net loss was $166 million versus $175 million in the July\u2013September quarter.<\/p>\n

The decline in crypto-focused revenue at Robinhood was attributed to a drop in the number of executed orders (down 3% quarter over quarter) and the value of settled trades (down 22%).<\/p>\n

The amount of digital assets held in custody declined by 10%, to $8 billion.<\/p>\n

The company noted that the crypto-wallet waitlist had surpassed 1 million users<\/a>. In September 202210,000 people<\/a>, the first to sign upfor early access<\/a> to the iOS app, were able to test the beta version.<\/p>\n

By contrast, monthly active users stood at 11.4 million (down 0.8 million in the quarter), and the total number of funded accounts was 23 million.<\/p>\n

Ahead of the company’s IPO<\/a> in July 2021, co-founder and CEO Vlad Tenev described digital assetsthe foundation of Robinhood’s future development<\/a>.<\/p>\n

During a conference call with analysts, CFO Jason WarniK \u0432\u044b\u0440\u0430\u0437\u0438\u043b \u043e\u043f\u0442\u0438\u043c\u0438\u0437\u043c<\/a> regarding the development of the crypto-related business, noting January\u2013February trends.<\/p>\n

Simultaneously with the quarterly results, Robinhood announced plans to buy back 55 million shares held by Emergent Fidelity Technologies. The Sam Bankman-Fried-linked firmacquired<\/a> them in May 2022.<\/p>\n

Robinhood’s co-founders are canceling nearly $500 million in option-based compensation to reduce costs.<\/p>\n

After the results were released, the online broker’s shares rose about 7.9%. Pre-market data indicated a potential 5% gap up at the open.<\/p>\n

Since the start of the year, Robinhood’s stock has risen about 28.6%. Over the last year, the company’s market capitalization has fallen by nearly a quarter.<\/p>\n

In January, the U.S. Department of Justiceseized<\/a> 55.2 million Robinhood shares in thecase<\/a> involving FTX founder Sam Bankman-Fried.<\/p>\n

Earlier, FTXasked<\/a> the court to protect these Robinhood securities from creditors.<\/p>\n","protected":false},"excerpt":{"rendered":"

In Q4 2022, Robinhood’s revenue from cryptocurrency-related operations fell 24%, to $39 million. The company said so in the report.<\/p>\n","protected":false},"author":1,"featured_media":73836,"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":[1234,1211],"class_list":["post-73835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-robinhood","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73835","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=73835"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73835\/revisions"}],"predecessor-version":[{"id":73837,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/73835\/revisions\/73837"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/73836"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=73835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=73835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=73835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}