Over 40% of Robinhood’s Revenue in Q2 Came From Crypto Trading
Online trading company Robinhood made $565 million in revenue between April and June, a 8.2% more than in January-March, according to the company’s latest quarterly report.
Regarding crypto assets, their share in the indicator increased from 17% ($88 million) to 41% ($233 million).
60% of the company’s 22.5 million customers with non-zero account balances in the second quarter carried out transactions with cryptos. In terms of assets, 62% of digital asset-related revenue came from Dogecoin trading (34% Jan-Mar).
As a result, the company is concerned about what might happen if users decide to stop trading the altcoin:
“If trading activity or the price of Dogecoin falls, this could affect the financial results.”
At the moment, 7 digital assets can be traded on the platform: Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic and Litecoin.