27 Oct 2021
Robinhood’s Crypto Revenue Declined from $233 million to $51 million
The Index Today
The difference in Robinhood Markets Inc.’s Crypto trading revenue is stumbling between the second and third quarters. According to the previous data, Crypto revenue totaled at $233 million in the second quarter and it is at $51 million in the third quarter.
As of the moment, there are so many options for buying and selling crypto now, actually even the payment companies like Venmo are doing it. The market for crypto wallets is growing. Crypto wallet could make Robinhood a one-stop-shop for retail traders who want to immerse in stocks and cryptocurrencies.
Another reason to the decline of Robinhood’s crypto trading activity is the large demand from retail traders for the company to list the Shiba Inu coin in its platform, but it hasn’t, Bloomberg news confirmed. According to its last filing, 64% of crypto revenue came from the Dogecoin.