{"id":82576,"date":"2023-08-03T15:26:18","date_gmt":"2023-08-03T12:26:18","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82576"},"modified":"2025-09-12T05:54:30","modified_gmt":"2025-09-12T02:54:30","slug":"robinhoods-crypto-revenue-slides-18","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/robinhoods-crypto-revenue-slides-18\/","title":{"rendered":"Robinhood’s crypto revenue slides 18%"},"content":{"rendered":"

In the second quarter of 2023, Robinhood’s revenue from digital-asset-related operations declined 18.5% year over year to $31 million. The company said in a report<\/a>.<\/p>\n

The figure was the lowest in the past two years. During this period, it ranged from $31 million to $233 million.<\/p>\n

\n
\"image-502\"
Robinhood revenue dynamics from trading stocks, options and cryptocurrencies (marked in dark green). Data: Robinhood.<\/figcaption><\/figure>\n<\/div>\n

Total operating revenue in the second quarter declined by 7% to $193 million \u2014 during the period, the figure was only lower in October\u2013December 2022 ($186 million).<\/p>\n

Total revenue rose 10% to $486 million, helped by a 13% rise in net interest income to $234 million.<\/p>\n

For the first time in the online broker’s history, net income of $25 million was recorded, versus a $511 million loss in the previous quarter. This was driven in part by a sharp reduction in operating expenses (down 24% year over year).<\/p>\n

The decline in revenue from its crypto-focused activity was attributed to a 6% quarterly drop in order executions and a 15% drop in funds in settled trades.<\/p>\n

The amount of digital assets held in custody remained at $12 billion.<\/p>\n

\n

\u201cDespite the challenging environment for the entire crypto ecosystem, Robinhood continues to develop in this space. In the second quarter, the company added a number of new coins to its listing,\u201d<\/em> \u2014 according to the press release.<\/p>\n<\/blockquote>\n

The company noted the release of a non-custodial wallet<\/a> and the associated fiat gateway<\/a>. A separate app is expected later this year.<\/p>\n

In June, media reported on the third wave of layoffs<\/a> at Robinhood.<\/p>\n

Since June 27, the online broker stopped supporting<\/a> cryptocurrencies Cardano<\/a>, Polygon<\/a> and Solana<\/a>.<\/p>\n

On June 5, the SEC<\/span> filed<\/a> suit against the Bitcoin exchange Binance, and the following day the regulator made allegations<\/a> against Coinbase. In both cases the agency classified ADA, MATIC and SOL as assets with the characteristics of securities.<\/p>\n","protected":false},"excerpt":{"rendered":"

In the second quarter of 2023, Robinhood’s revenue from digital-asset-related operations declined 18.5% year over year to $31 million, the company said in a report.<\/p>\n","protected":false},"author":1,"featured_media":82577,"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":[1252,1234],"class_list":["post-82576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-reports","tag-robinhood"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82576","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=82576"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82576\/revisions"}],"predecessor-version":[{"id":82578,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82576\/revisions\/82578"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/82577"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}